Dear members,
Can we utilize previous month ITC of reverse charge to discharge the liability of the current month under reverse charge?
Kindly advice
charge
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Respected Members,
Greetings for the day!!
A listed company has availed vehicle loan from a Nationalised Bank/NBFC. The said vehicle has been offered to the Bank as security for due repayment and discharge of the loan facility. The company has executed requisite documents with the bank at the time of availing the loan facility.
I request you to kindly clarify whether it is mandatory for the company to file Form CHG-1 with ROC / MCA for creating necessary charge in favour of the bank in connection with availing of vehicle loan facility.
The bank officials are not insisting for creation of such charge.
Some of my friends say creating charge is mandatory under the new act. Some say it is not mandatory, thus creating a confusion in my minds.
In view of the above I request the members of this forum to kindly clarify my above said doubt.
With regards
Sudarshan Kahaliya
If a company is having a charge which is created on May, 2018 n CHG 1 has not been filed..
Then as per the ordinance it can file CHG 1 within 6 months from the date of commencement of such ordinance after filing condonation of delay for the same or directly by filing CHG 1 Form??
And if a charge is created on Aug, 2017 n no CHG 1 is filed then what will be the procedure for creation of charge ?
Dear Members,
Please assist me to know If GST paid on reverse charge basis would it be considered as input tax?
Dear Professionals,
If it is required to create a charge in case of car loan taken by the company. And the same car is hypothecated for the loan.
Hi All,
Please assist me knowing
Is it mandatory to file the particulars of charge created, with the ROC if a property is situated outside India ?
We have issued Bank Guarantee of MoC, GoI and now the bank is asking to create a charge on that.
As per my understanding need not create a charge on Bank Guarantee.
Need specific reference of MCA, RBI that no need to create a charge on Bank Guarantee.
Can we Utilise previous Month ITC of Reverse Charge to Discharge the liability of Current Month .
Click here to view / answer Share it onDear All Can multiple vehicle loan agreements can be filed under one CHG-1 form? The charge holder is stating on the same as there are more than 25 loan agreements with 10 vehicle loans....so they are requesting to file one CHG-1 form with master loan agreement. Kindly clarify
Click here to view / answer Share it onIn E-form CHG -1 what is the meaning of "Extent and operation of the charge" Q. Curtsy: CS Umesh Kumar
Click here to view / answer Share it onDear All 1) There is one Small pvt company who had availed CC on 22.09.2016 which is closed on 06.01.2018 and on the same date Company availed Hypothecation loan which was closed on 21.04.2018 and both charge created on the same date and charge Id of both the loan is same so now which date should be taken as date of satisfaction of charge?? 2) Secondly, the charge was created and sanctioned on 09.09.2016 but in NOC it is menioned 22.09.2016, so in this case, May I have to ask the bank to the change the date in NOC?? 3) In CHG-4, there is one point in declaration of chargeholder which is "I/we am/are a multilateral/International financial institution who has/have been exempted from payment of income tax in India under the UN Privileges and Immunities Act." what is that...whether we have to check that box or not??? Kindly share your views asap. Thanks in advance.
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satisfaction
Is the reverse charge mechanism applies only to services?
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