Blog
NCLT and NCLAT: A Paradigm shift to new legislation
The Ministry of Corporate Affairs, vide Notification dated July 21, 2016, has notified the National Company Law Tribunal Rules, 2016 (NCLT Rules, 2016), which has replaced the Company Law Board. Further, the rules for the National Company Law Appellate Tribunal have also been notified by the Corporate Affairs Ministry. The Tribunal and its Appellate Authority are...Continue Reading
Corporate Mailer
UNDERSTANDING GST: Goods and Service Tax (GST), as we all know has been in consideration for years now and the basic concept is also clear to many. Yet there are a few technical concepts that may need broad deliberations to reduce the ambiguities upon its implementation. We list down few of these for simple understanding....Continue Reading
ANNUAL COMPLIANCES AS PER COMPANIES ACT, 2013
For Private Companies and Unlisted Public Companies: Closure of financial year Preparation of Balance Sheet and finalisation in the Board Meeting Preparation and approval of Board Report Calling of Annual General Meeting Sending notice of Annual General Meeting Disclosure of interest of Directors in other entities Obtaining certificate of non-disqualification from Directors Filing of...Continue Reading
FINANCIAL REPORTING AS PER COMPANIES ACT, 2013
Uniform Financial Year: Every Company shall follow a uniform financial year, from 01st April to 31st Companies following a different financial year need to align with the new requirement of law within two years of implementation of Act, ie 31st March 2016. A Company or Body Corporate which is holding or subsidiary of a Company...Continue Reading
BIG RELAXATION TO STAKEHOLDERS THROUGH COMPANIES (AMENDMENT) ACT, 2015
KEY AMENDMENTS TO COMPANIES ACT, 2015: No requirement of Common Seal: Not mandatory to have common seal in the company In such a case, documents shall either be signed by 2 Directors, or 1 Director and Company Secretary, jointly No need of Certificate of Commencement of business: No need of Certificate of Commencement of...Continue Reading
IMMEDIATE CHANGES IN SERVICE TAX
New Rate of Service Tax @14% (including all cess) will be effective from 01st June, 2015 IMPORTANT TO NOTE: Additional 2% “Swachh Bharat Cess” is not notified yet, hence not leviable/chargeable. EFFECTIVE RATES IN CASE OF ABATEMENT (AS APPLICABLE) WILL BE: SN Service Provided Effective Dates Effective Service Tax Rates New Abatement...Continue Reading
EVENTS TRIGGERING SECRETARIAL COMPLIANCE
Due to implementation of Companies Act, 2013, effective 01st April, 2014, the companies have been entrusted with increased number of compliances and reporting. The Management is now required to keep the Company Secretary (internal or external) informed for certain business events, so that such transactions can be ratified/ approved through valid secretarial interventions. We have...Continue Reading
HIGHLIGHTS – UNION BUDGET 2015-16
The Union budget 2015-16 presented on 28th February, 2015 encompasses the fact that Government of the day is focused on consolidating the growth factors with achievable plan of actions. We have tried to bring out certain critical changes that this budget proposes, and that may impact the business decisions or individuals tax planning. Following are...Continue Reading