Dormant Company Meaning of Dormant Company The word “Dormant” means inactive or inoperative. A dormant company is an excellent opportunity to start a company for a future project or hold an asset/intellectual property without having significant accounting transactions. On the other hand if a company has not filed its annual returns for two consecutive years …
Initiation of Liquidation under the IBC Who can order for Liquidation? “Adjudicating Authority”, for the purposes of Insolvency and Bankruptcy Code, means National Company Law Tribunal constituted under section 408 of the Companies Act, 2013. When can be liquidation order can be pass by NCLT ? Initiation of Liquidation ( Section 33 on IBC) The …
Tribunal allowed a refund of the Countervailing Duty, Cess & Special additional Duty: In case, we have to pay Basic Customs Duty (BCD), Cess Special Additional Duty (SAD), and Countervailing Duty (CVD) on our imports made before the implementation of GST in order to regularise a bona fide default under an advance authorization. After implementation of GST, GST Law restrictions …
The Union Budget of India 2022 was presented by the Finance Minister As on 1st February 2022. Now, herein, the changes that were proposed in the Budget, shall come into effect from the date, when the Central Board of Excise and Customs shall come up with a notification. Amendments in the provisions in GST law …
One person Company and its registration process One person company was introduced by the company’s Act 2013. There is a requirement of a minimum number of Two members and Two directors in a private company as well as a minimum No of 3 directors along with Seven members in a public company. Earlier a company …
How to close LLP in India LLP Strike Off (Closure) First we need to understand LLP then we will understand closer of LLP: Limited Liability Partnership is a sought of an alternative corporate business, which strives to provide the benefits of limited liability of a company and the flexibility of a partnership. Change in partners …
Growing Concerns about FCRA renewals. “How long should we wait before getting agitated about this delay in FCRA renewal?” a nonprofit leader recently asked. We will be unable to pay our employees unless we have a valid FCRA certificate.” The FCRA act 2010 governs the inflow of foreign contributions to Indian nonprofit organisations. The Ministry …
Annual Return (FC-4) under FCRA 2010 FCRA Return Filling: The Foreign Contribution Regulation Act (FCRA) of 2010 is implemented by the government to make it legal for individuals and organizations registered in India to receive unauthorized grants and contributions from foreign businesses that are adverse for the country’s interests. Each entity receiving any contribution or …
Recommend that the GST rate on Diethylcarbmazine (DEC) pills be reduced from 12 percent to 5%. Clarified that services provided to government entities in the form of rope-way construction are subject to the 18% GST rate. Know about relaxation in filing of GSTR 3B for the month from Mar’2021 to May’2021 SN Tax Period Turnover …
Introduction to Types of NBFC Nowadays NBFC has become an integral part of the financial sector in India. RBI has mandated various types of NBFC carrying of different types of businesses based on their principal object. For carrying on different types of financial lending activities, the NBFC must fulfill the required criteria as provided by …