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PROFESSIONAL UPDATE FOR 29th OCTOBER 2015

PROFESSIONAL UPDATE FOR 29th OCTOBER 2015

 INCOME TAX UPDATE:

Government of India makes changes in indirect tax rates, effective from yesterday Government has made the following changes in indirect tax rates, effective from today, that is 19th October, 2015:

  • In view of the continued fall in international prices of wheat and the anticipated adverse impact of increased imports during the first half of this financial year, basic customs duty on wheat has been increased from 10% to 25% for a period upto 31.03.2016. Notification No.51/2015-Customs, dated 19.10.2015 may be referred to in this regard.
  • Specified biodiesel is exempt from central excise duty. However, its inputs namely, RBD Palm Stearin, Methanol and Sodium Methoxide are chargeable to central excise duty leading to CENVAT credit accumulation. Central excise duty has been exempted on RBD Palm Stearin, Methanol and Sodium Methoxide used in the manufacture of such biodiesel subject to actual user condition for a period upto 31.03.2016. Notification No.42/2015-Central Excise, dated 19.10.2015 may be referred to in this regard.

MCA UPDATE:

Versions of Forms 2A LLP , 4A LLP are modified w.e.f 19th Oct 2015. Form 14 LLP have been withdrawn. Stakeholders are requested to plan accordingly.

LLP (amendment) Rules, 2015

  • Concept of intimation to ROC regarding conversion of Company into LLP withdrawn. e-form 14 discontinued.  In case of conversion of firm, intimation to Registrar of firms to be given in form 14.2. LLP forms 2A, 4A are modified w.e.f. 19 Oct 2015.

MCA PORTAL UPDATE:

  • Segregation of LLP services from Company; a new page made for LLP services,(same ROC login ID will work here also)
  • New tab my workspace introduced; It contains
  • View public and certified true copies requests
    b. Uploading of linked e-forms for LLP together.
    * Tracing of IP addresses has been started.
  • Downloading of e-form submitted for resubmission. ( as of now only for LLP)
  • Requesting scanned copy of documents ( Only for LLP, free of cost)
  • Advanced Search option (only for LLP)

You can search LLP with following parameters now:-

LLPIN (starts /ends with/contains); or

LLP name (starts /ends with/contains); or/and

Country and state of incorporation.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances; Hope the information will assist you in your Professional endeavors. For query or help, contact:info@caindelhiindia.com or call at 011-23343333

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