business commencement before year financial
An Indian Pvt Ltd co. engaged in certain services classified under export of services under GST.
The company received advance worth 2cr from an overseas customer in March 2020 in USD in their bank account as advance against the travel-based services to be provided. From March 2020 the international travel ceased so, the company has not provided any services for last two years to the said client.
The issue : How will the above advance be treated under section 73 and Deposit rules.
-Whether it falls under Public Deposit/Loan
-Whereas it's simply a business advance against services to be provided in future but outstanding for more than 365 days.
-What options the company has to not the same be treated as deposit/loan.
Please give resolutions
under services export classified certain Procedure to be followed for shifting of registered office within the same Special Economic Zone area. it will be within state compliances or what ?
Click here to view / answer Share it onoffice registered shifting Share the procedure for registration and other compliances if any needs to be done.
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Required drafts formats for First Board Meeting Agenda, Notes of Agenda and Minutes Format.
Please share as per SS-1 & SS-2 Applicability
Company will be considered as Public company since where a company being a private company alters its articles in such a manner that they no longer include the restrictions and limitations which are required to be included in the articles of a private company under this Act, the company shall, as from the date of such alteration, cease to be a private company.
Name Change will be effective from the date of COI or EGM ?
Company incorporated in 2019, company does not file INC-20A within 6 months of incorporation and failed to commence its business. MCA Strike Off the company , but my question is directors will be considered as disqualified ?
Presently directors DIN is active and they want to incorporate a new Company , so is it possible ? Please give light on my query
filing struck case disqualification directors
Which sections of the Companies Act applicable or having exemption for NBFC Companies in regard to loan, investment and borrowings ?
nbfc compliances
share procedure for Conversion of Nidhi company to Private Limited
Dear Folk,
First you have to make payment of subscription money within 180 days from the Incorporation as its mandatory compliances for filing INC-20A.
Filing of Form INC-20A (Declaration for Commencement of Business) that is to be filed within 180 days from the date of incorporation, Therefore if money still pending and 180 days lapsed then you are supposed to apply closure of the Company on the ground :
248(1)(d) the subscribers to the memorandum have not paid the subscription which they had undertaken to pay at the time of incorporation of a company and a declaration to this effect has not been filed within one hundred and eighty days of its incorporation under sub-section (1) of section 10A;
For any further query you mat write to me at csshiriti@gmail.com