Has anybody taken loan (create charge) under ECLGS schemes given by the bank to the companies???
Click here to view / answer Share it onAny idea whether the company may claim ITC with respect to GST paid under RCM for services provided by Non- Executive Director to the company?
Also, what will be the applicable rate of GST in such a case?
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Dear all
Want to file MGT14 for an EGM held in march 20,(couldnot file because of lockdown)
but MCA shows penalty also. how to benefit from CFSS. please guide if anyone as dealt.
Please confirm whether LLP can be registered under MSME?
Hi All,
The Agile pro form on the MCA portal is not showing the attachment under 'Proof of identity of authorised sigantory' even after it has been uploaded successfully. After uploading the attachment, we have pre-scrutinited and submitted the form without errors. However, when we download the form, we are unable to the see the attachment in the PDF and even the attachment path box in the attachments is blank.
Please let us know if anyone else has faced the same issue.
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Kindly confirm that :
MGT 14 is not required to be filed in case of EGM held for Special Resolution for an increase in borrowing powers exceeding Share capital & free reserves
EGM can be held at any place than Regd Office of the Company
Mr. A who was carrying on business in proprietary firm M/s A & CO expired in June 2015. His son Mr. B carried on the business in the same proprietary name and was allotted another TIN. The assessments of the proprietary firm up to June 2015 and the balance period were finalized separately. The assessment dues of the firm up to June 2015 were wrongly paid under the TIN of the new firm. Subsequently, the dues were again paid in the correct TIN to settle the dues.
However, the commercial Officer is refusing to refund the amount wrongly paid under the new TIN under the pretext that the firm is already assessed to tax and the same cannot be reopened. is there a way out.
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.
What is the Late Submission Fee (LSF) under FEMA?
Condoning Reporting Delays by LSF
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The board meeting of a private limited company held on 04.04.2019. Mr. A attended the meeting on that day. The second meeting held on 03.05.2019. Mr.A absent from the meeting from May 2019. Now due to COVID 19, the meeting gets delayed. He has to present at the meeting to be held before 03.05.2020 or he is disqualified from directorship? Please clarify.
Click here to view / answer Share it onWhat kind of company is the IFSC under the Companies Act of 2013?
Click here to view / answer Share it oncan a CA become a partner in an audit firm in India and at the same time can hold the proprietorship of Audit Firm in Nepal Under ICAN Act (Nepal). Any obligation for continuing as a member of ICAI & ICAN at the same time, whether possible or not?
How will the CPE obligation be fulfilled in such a case ?
