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NON – FILING OF ANNUAL REPORTS AND IT’S IMPACT ON DIRECTORS & COMPANIES

October 4, 2017 admin Comments 0 Comment

BACKGROUND Recently, the Ministry of Corporate Affairs (MCA), through various ROC offices, has de-registered approx 209,000 companies from its record due to “Non-filing of Annual Reports for consecutive 2 years or more” in accordance with provision of Section 248 of Indian Companies Act, 2013. As a follow-up measure, the MCA has notified a list of approx. 100,000 directors of said deregistered companies, who stand disqualified as per provision of 164(2) of the Indian Companies Act, 2013. In this background, provisions…

Myths of GST

September 18, 2017 admin Comments 0 Comment

It was 1st July 2017 when Government of India introduced GST all over the country and made it applicable to all trade, big and small. It appeared like the entire country went into a state of shock at the sudden GST announcement and denoted its enactment as a whimsical attack on the savings potential of common Indians. However, if you take an in-depth look into the matter, you can settle down the myths with logic and ease. Let us see…

Goodies of GST for Industries

August 14, 2017 admin Comments 0 Comment

GST (Goods and Services Tax) – the most talked about “one nation, one tax” initiative by the Indian Government is a unified Indian taxation system. The very initial impact of GST was on our mobile phones as they were loaded with funny messages, viral images and jokes about the same. In due course, the vendors, the Chartered Accountants, the start-up owners, the Government, the industries and the common men were busy in understanding its impact on their respective accounts. The…