Author: Nitika Bansal

I will regularly provide update on direct tax and indirect tax

Clarification for OEM owned moulds and dies sent on FOC basis

June 10, 2018

Circular No. 47/21/2018-GST 08th June, 2018 Important clarification for OEM owned moulds and dies sent on FOC basis Issue:-Whether moulds and dies owned by Original Equipment Manufacturers (OEM) that are sent free of cost (FOC) to a component manufacturer is leviable to tax and whether OEMs are required to reverse input tax credit in this […]

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CBIDT made easy filing of LUT for Exporters

April 6, 2018

F. No. 349/82/2017-GST Government of India Ministry of Finance Department of Revenue Central Board of Indirect Taxes and Customs (GST Policy Wing) *** New Delhi, April 6, 2018 To, The Principal Chief Commissioners / Chief Commissioners / Principal Commissioners/ Commissioners of Central Tax (All) / The Principal Director Generals / Director Generals (All) Madam/Sir, Subject: […]

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Clarification issued on GST refund issues

March 17, 2018

Board vide Circular No. 17/17/2017 – GST dated 15th November 2017 and Circular No. 24/24/2017 – GST dated 21st December 2017 clarified various issues in relation to processing of claims for refund. Since then, several representations have been received seeking further clarifications on issues relating to refund. In order to clarify these issues and with […]

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Exemption of Accounting standards to Companies engaged in defence production

March 9, 2018

rTO BE PUBLISHED IN THE GMETTE OF INDIA, EXTM-ORDINARY, PART II, SECilON 3, suB-sEcTroN (ii)l GOVERNMENT OF INDIA MINISTRY OF CORPOMTE AFFAIRS NOTIFICATION New Delhi, 23 february, 2018 S,O, _ (E). – In exercise of the powers conferred by clauses (a) and (b) of sub-section (1) and sub-section (2) of section 462 of the Companies […]

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Companies (Removal of Difficulties) Order, 2018

February 25, 2018

S.O. _ (E).- Whereas, sub-section (2) of section 152 of the Companies Act, 2013 (18 of 2013) (hereinafter referred to as the said Act) provides that every director (including an independent director) shall be appointed by the company in general meeting; And whereas, sub-section (10) of section 149 of the said Act provides that subject […]

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MCA REVISED AUDITORS APPOINTMENT FORMS

February 25, 2018

published in the Gazette of India, Extraordinary, part II, section 3, sub-section (i)l GOVERNMENT OF INDIA MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, the l6th February, 2O1g G’S.R-(E)- In exercise of the powers conferred by sub-sections (1) and (2) of section 469 of the companies Act, 2013 (1B of 2013), the central Government hereby makes […]

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Medium Enterprises Development Act, 2006 to change the criteria of classification and to withdraw the MSMED (Amendment) Bill, 2015

February 18, 2018

Medium Enterprises Development Act, 2006 to change the criteria of classification and to withdraw the MSMED (Amendment) Bill, 2015 – pending in Lok Sabha The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has approved change in the basis of classifying Micro, Small and Medium enterprises from ‘investment in plant & machinery/equipment’ to […]

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Tax Rates for Individuals – Budget 2018

January 30, 2018

There are only few hours left to come out the budget 2018 a realty. We have made a most reliable expectations from this budget for Income tax rates applicability on Individuals. Mr Jaitly as committed in his first budget to increase the exemption limit to Rs. 5 lacs. This limit will be enhanced in balanced […]

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Companies (Incorporation) Amendment Rules, 2018 – Easy Formation

January 25, 2018

MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, the 20th January 2018 G.S.R… (E)- In exercise of the powers conferred by sub-sections (1) and (2) of section 469 of the Companies Act, 2013 (18 of 2013), the Central Government hereby makes the following rules further to amend the Companies (Incorporation) Rules, 2014, namely: – 1. (1) […]

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Relaxation of additional fees and extension of last date of filing of Form CRA.4 under the Companies Act

December 13, 2017

Generaf Circular no.l5/2017 F. No.52/28/CAB/2O17 Government of lndia Ministry of Corporate Affairs 5th Floor, ‘A’Wing, Shastri Bhawan, Dr. Rajendra Prasad Road, New Delhi-1 Dated the 04th December, 2017 To All Regional Directors, All Registrar of Companies, All Stakeholders. Subject: Relaxation of additional fees and extension of last date of filing of Form CRA.4 under the […]

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