Is composition dealer liable to pay Reverse charge in addition to fixed percentage of normal GST that he has to pay ?Click here to view / answer Share it on
Can an advocate be held liable under the Consumer Protection Act,1986 for the deficiency in services?
A company for the financial year 2008-09 declared the dividend on 19th sep.2009 and fail to distribute the same within the prescribed period.A non executive director who was resigned on July 2009 was also implicated in a court of law along with the company and other directors.The que. is whether a resigned non executive director can be vicariously liable for the failure on the part of the company to declare dividend?
Please confirm its right ?
1. Could you please suggest if MD is not liable to retire by rotation? - Yes, as per S. 152(6) of the Companies Act, 2013, unless the articles provide for the retirement of all Directors at every annual general meeting, not less than two-thirds of the total number of Directors of a public company shall be liable to retire by rotation.
2. Also, for calculating 2/3rd of the total directors, 1.33 will be rounded off to 2 or 1? - I would like to recite the above provisions again stretching more on "not less than two-thirds of the total number of directors" - I would suggest you to round it off to 2 complying with the requirements of not less than 2/3rd.
The applicant is an unregistered person. It has filed an application for advance ruling to determine whether salary received as director from a private limited company shall be considered for aggregate turnover for registration.
The Authority for Advance Ruling observed that as per the provisions of CGST Act, the aggregate turnover is equal to the sum of value of all taxable supplies, exempt supplies, export of goods or services or both and inter-State supplies of persons having same PAN to be computed on all India basis. It excludes the value of inward supplies on which tax is payable by a person on reverse charge basis and CGST, SGST, UTGST, IGST and cess.
In the given case, the applicant receives salary as director of private limited company. If the applicant is an Executive director of such company, he will be treated as employee of the company. In that case, the services of the applicant as an employee to the employer are neither supply of goods nor supply of services in accordance with Schedule III of the CGST Act. If the applicant is Non-Executive director, the remuneration paid by the company is liable to GST in the hands of company under reverse charge mechanism. The applicant has not submitted any documentary evidence to support whether the salary received by him is towards his services as Executive director or Non-Executive director.
In view of the above, in case remuneration is received by the applicant as Executive director then it is not includable in aggregate turnover, as it is the services given by the applicant as an employee. However, if the applicant receives remuneration as Non-Executive director, then the company is required to pay tax on reverse charge basis. Thus, the services of the applicant as a Non-Executive director are includable in the aggregate turnover, as it is the taxable services supplied by the applicant, even though the tax is discharged by the company.
Please Suggest me Whether Individuals and HUF are liable to deduct tax if the payment made to a contractor is for personal use.
How long will the director be liable for the offences occurred during his tenure?Click here to view / answer Share it on
Supreme Court has held that for purposes of Negotiable Instruments Act (dishonour of cheque), a Trust can be held as a juristic person and can be proceeded against. However, is there any judgment by which it has been categorically declared that a Public Charitable Trust is a juristic person who is liable for punishment? If anyone here has come across any judgment or order of IT Tribunal etc on these lines, kindly post.Click here to view / answer Share it on
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