The government has always been under the lens of the taxpayers for seamlessly granting the refund. Currently, the taxpayers are facing delays in the grant of refunds due to stringent rules and regulations for processing refunds. The majority of the taxpayers are not aware of the frequent changes that are made in the rules relating…
In continuation to the previous blog, there are certainly more important changes in CGST Act,2017 which commence on such date as the Central Government may, through a notification in the Official Gazette, appoint. Section 74 of CGST Act,2017 From Section 74, recovery of tax, overrunning and confiscation of conveyances and goods in transit are now…
There were certain important amendments in the financial proposal of the Central Government for the financial year 2021-2022 regarding GST which emphasized collecting taxes, overruling all previous supreme court judgments or high courts judgments. An Act to give effect to such financial proposals received the assent of the President on the 28th of March 2021…
Cyber security is the body of technologies and practice of defending computers and servers, mobile devices, electronic systems, networks, and data from malicious attacks and illegal activity like harassment and extortion, hacktivist protests, unauthorized access, and many more. A computer is either targeted or used for Cybercrime or Cyber Security, respectively. Cybercrime may threaten a…
The way companies act has prescribed the process for the incorporation of the company in the same way companies act has prescribed the process, conditions, and method for the closure of the company. As of date, the company act has prescribed two ways/methods to close the company: Strike of company Winding up of company As…
Shares:Section 2(84) of Companies Act, 2013 Share means share capital of a Company and it includes stocks also. Share and Debentures are movable property, and they are freely transferable in the manner provided in the AOA of the Company. Share Certificate: Share Certificate is a document issued by a company indicating that the person named…
“Members right to inspect”Under Section 171 of The Companies Act 2013 The register kept under section 170 (1), – (a) the register shall be open for inspection during business hours (9 AM TO 6 PM) and the members shall have a right to take extracts therefrom and copies thereof, and on a request by the…
“Private company” are those firms that are having a minimum paid-up share capital which may be endorsed or prescribed by its articles and which,— (i) limit the rights to transfer its shares (ii) except in the case of OPC, limits the number of its members to 200: Given that, persons will be treated as a…
Disqualification of Director: Section 164 contains the conditions in which a director can be disqualified as a director. Determining the condition by which a person cannot be appointed as a director or restricting him from becoming a director of the company covered under Disqualification of a director. Reason of disqualification can be two As per…
The Indian Government recently introduced Companies (Corporate Social Responsibility Policy) Amendment Rules, 2021 amending the previous rules. The same became effective from 22nd January 2021. CSR Defined Exclusively In New Rule: In Companies (Corporate Social Responsibility Policy) Amendment Rules, 2021 the definition of CSR is exclusive definition and according to it the following activities will…
