CS Lalit Rajput

Company Secretary

Company Secretary

Company Secretary, Advisor, Law Expert, Startup Expert, Content Writer, Blogger

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About Me

Company Secretary having 6+ years of post qualification experience in the Compliance Management Services industry by serving Corporates including Listed Companies, Corporate Secretarial Firms and LLP. Have a keen interest in the Corporate Governance and Compliance Management and the soaring craving to learn everyday. Aim is to dive d...
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Industries Expertise
Construction Industry
Energy Industry
Hotel Industry
Manufacturing Industry
Steel Industry
Tourist Industry
Areas of practice
Accounting
Bankruptcy
Company Audit
Company Registration
Copyright Registration
Due Diligance
FDI Matters
FEMA Matters
IBC Matters
Intellectual Property Law
LLP Services
Management Consulting
Mergers & Acquisition
NCLT Matters
NRI Taxation
Professional Certification
RD Matters
ROC Matters
Search Report
AutoBiography

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Soft skills
Management Skill
90%
Communication Skill
70%
Liaisoning Skill
80%
Favourite Books
Zero to One
80%
Chartered Secretary
100%
Companies Act
80%
Taxmann
100%
Story Books
100%
Hobbies
Reading
100%
Time spending with Family & Friends
100%
Writing
100%
Surfing on internet
100%
Knowledge Updation
100%
Language Skills
Hindi
100%
English
80%
Punjabi
70%
Marathi
50%
Miscellaneous Skills
Photography
100%
Travel
100%
Blogging
100%
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Experience
  • Company Secretary 04-08-2021 - Present
    Company Secretary

    Corporate Laws


Education
  • Company Secretary 25-08-2011 - 25-08-2014
    ICSI

    Completed in 2014 (First Attempt)

  • B. Com 01-05-2011 - 30-10-2014
    Delhi University

    Graduate from Delhi University


Awards
  • Best Presenter - ICSI MSOP 2017
    ICSI

    Group Presentation Award

  • Certificate of Appreciation 2020
    Cabiznet

    Certificate of Appreciation for knowledge sharing initiative


CS Lalit Rajput: Know more about my achievements

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CS Lalit Rajput: Read My 343 Published Articles


Government of India, Ministry of Finance, Department of Revenue, Central Board of Direct Taxes (TPL Division) File No. F. No. 370142/29/2022-TPL (Part-I) vide Income Tax Circular No. 13 of 2022 dated 22nd June, 2022 has released “Circular regarding Guidelines for removal of difficulties under sub-section (6) of section 194S of the Income-tax Act, 1961”. Finance Act 2022 inserted a new......

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In order to protect the interests of investors in securities and to promote the development of, and to regulate the securities market, Securities and Exchange Board of India (SEBI) vide Circular No. SEBI/HO/IMD/IMD-I/DOF2/P/CIR/2022/81 dated 09th June, 2022 has issued notification related to Modification in Cyber Security and Cyber Resilience Framework of Mutual Funds/ Asset Management Companies (......

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In order to bring uniformity in practices across all constituents in securities market, protect the interests of investors in securities and to promote the development of, and to regulate the securities market Securities and Exchange Board of India (SEBI) vide Circular No. SEBI/HO/IMD/IMD-II DOF3/P/CIR/2022/82 dated 15th June, 2022 has issued notification related to Nomination for Mutual Fund Unit......

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Important Questions on Filing of DIR-3 KYC Q1. What is the due date for filing DIR-3 KYC? Ans.: Due date for filing the KYC form is 30th September of every year. Q2. Who is required to File DIR-3 KYC / Web KYC? Ans: Every Director / Designated Partner (having DIN / DPIN) who has been allotted DIN / DPIN on or before the end of the financial year, and whose DIN / DPIN status is ‘Approved&......

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Reserve Bank of India (RBI) vide Circular No. RBI/2022-23/60 DOR.STR. REC.39/04.02. 001/2022-23 dated 31st May, 2022 has issued notification related to “Interest Equalization Scheme (IES) on Pre and Post Shipment Rupee Export Credit - Extension.   Key Highlights: This extension has been provided with an objective of boosting outbound shipments. Exporters get subsidy unde......

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Ministry of Corporate Affairs (MCA) vide Gazette Id no. CG-DL-E-01062022-236214 & F.No.1/22/2013-CL-V dated 01st June, 2022 has issued “the Companies (Appointment and Qualification of Directors) Amendment Rules, 2022” further to amend the Companies (Appointment and Qualification of Directors) Rules, 2014, in exercise of the powers conferred under second proviso to Section 149(1), 1......

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About Article: This article contains various Compliance requirements for the Month of June, 2022 under various Statutory Laws. Compliance means “adhering to rules and regulations.” Compliance is a continuous process of following laws, policies, and regulations, rules to meet all the necessary governance requirements without any failure. If you think compliance is expensive, try non? ......

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Reserve Bank of India (RBI) vide Circular No. RBI/2022-23/52 FIDD. MSME & NFS.BC.No.7/06.02.31/2022-23 dated 19th May, 2022 has issued notification related to “New Definition of Micro, Small and Medium Enterprises - Clarification”. New Definitions – Enterprises-  (effective from 01.07.2020): Type (s) of Entity Criteria Micro enterprises wher......

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In order to protect the interests of investors in securities and to promote the development of, and to regulate the securities market, Securities and Exchange Board of India (SEBI) vide Circular No. SEBI/HO/MIRSD/DOS3/P/CIR/2022/78 dated 03rd June, 2022 has issued notification related to “Investor Redressal Grievance Mechanism” in exercise of the powers conferred under   Sect......

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In order to protect the interests of investors in securities market and to promote the development of, and to regulate the securities market, Securities and Exchange Board of India (SEBI) vide Circular No. SEBI/HO/IMD-I/DOF1/P/CIR/2022/77 dated 02nd June, 2022 has issued notification related to “Procedure for seeking prior approval for change in control of Portfolio Managers” in exerci......

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In order to protect the interests of investors in securities and to promote the development of, and to regulate the securities market, Securities and Exchange Board of India (SEBI) vide Circular No. SEBI/HO/MIRSD/MIRSD_RTAMB/P/CIR/2022/73 dated 27th May, 2022 has issued notification related to Modification in Cyber Security and Cyber resilience framework of Qualified Registrars to an Issue and Sha......

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1. Compliance requirement under Income Tax act, 1961 Sl. Compliance Particulars Due Dates 1 Due date of depositing TDS/TCS liabilities under Income Tax Act, 1961 for previous month (May, 2022). 07.06.2022 2. ?Due date for issue of TDS Certificate for tax deducted under section 194-IB in the month of April, 2022 14.06.2022   3 ......

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Government of India, Ministry of Finance, Department of Revenue, Central Board of Direct Taxes (TPL Division) vide Income Tax Circular No. 10 of 2022 dated 17th May, 2022 has released “Circular regarding use of functionality under section 206AB and 206CCA of the Income-tax Act, 1961, which were inserted into the act by the Finance Act, 2021. The deadline to file the original ITR for FY 2020......

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The Goods and Service Tax Network (GSTN) vide a notification dated 02nd May, 2022 has enabled the functionality of Annual Aggregate Turnover (AATO) for the FY 2021-22 on taxpayers' dashboards. Turnover, in common parlance, is the total volume of a business. The term ‘aggregate turnover’ has been defined in GST law as under: “aggregate turnover” means the aggregate value o......

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In order to to protect the interests of investors in securities and to promote the development of, and to regulate the securities market, Securities and Exchange Board of India (SEBI) on notification no. SEBI/HO/MIRSD/MIRSD_RTAMB/P/CIR/2022/70 dated 25th May, 2022 has released issued a circular after reviewed the process followed by the Registrars to an Issue and Share Transfer Agents (“RTAs......

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Securities and Exchange Board of India (SEBI) on 20th May,2022 has released Consultation paper on introducing framework of Schemes of Arrangement for entities that have listed only debt securities/ NCRPS’, The term, ‘arrangements’ has been defined as amalgamation, merger, demerger, etc. which are different from those filed under the Insolvency and bankruptcy code inasmuch that t......

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Securities and Exchange Board of India (SEBI) vide Circular No. SEBI/HO/DDHS/P/CIR/2022/0063 dated 13th May, 2022 has issued notification related to Relaxation from compliance with certain provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 – for entities with listed non-convertible securities in exercise of the powers conferred under Section 11(1) of t......

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Securities and Exchange Board of India (SEBI) on 25th March, 2022 has released Report for Public Comments regarding Review of determination of Offer Price in case of disinvestment of PSU Companies to seek comments from the public on the proposal to relax certain provision with regard to determination of open offer price in case of divestment of Public Sector Undertaking companies (PSUs) by the Cen......

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Cost audit applicability provisions are contained under rule 4 of the Companies (Cost Records and Audit) Rules, 2014. Section 148 of the Companies Act, 2013 contains provisions relating to the cost records and cost audit applicability under the Companies Act. The primary goal of cost audit is to ensure that the cost relating to production and sales encompass only those factors which are imperative......

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About Article: This article contains various Compliance requirements for the Month of May, 2022 under various Statutory Laws. Compliance means “adhering to rules and regulations.” Compliance is a continuous process of following laws, policies, and regulations, rules to meet all the necessary governance requirements without any failure. If you think compliance is expensive, try non? c......

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1. Compliance requirement under Income Tax act, 1961 Sl. Compliance Particulars Due Dates 1 Due date of depositing TDS/TCS liabilities under Income Tax Act, 1961 for previous month. 07.05.2022 2. Due date for issue of TDS Certificate for tax deducted under section 194-IA, 194-IB, and 194M in the month of March 2022. 15.05.2022 3 ......

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Upcoming UAE Tax Reforms 2022 - 23 The Ministry of Finance in the United Arab Emirates has taken several taxation measures. They announced that federal corporate tax will be implemented on business profits for financial years, which start on or after 1 June 2023, meaning that the first profits to be taxed will be for financial years ending on or after 31 May 2024. With the announcement of a new c......

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The Central Government had launched Employees’ Pension Scheme, 1995 in exercise of the powers conferred by Section 6A of the Employees’ Provident Funds and Miscellaneous Provisions Act, 1952 (19 of 1952).  The EPS’95 scheme applies to all the employees of factories and other establishments to which the Employees Provident Funds and Miscellaneous Provisions Act, 1952 applies.......

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About Article / Compliance Tracker: This article contains various Compliance requirements for the Month of April, 2022 under various Statutory Laws. Compliance means “adhering to rules and regulations.” Compliance is a continuous process of following laws, policies, and regulations, rules to meet all the necessary governance requirements without any failure. Compliance Requirement Un......

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E-Invoice under GST regime refers to a system in which B2B invoices are authenticated electronically by GSTN for further use on the common GST portal. Under the electronic invoicing system, an identification number will be issued against every invoice by the Invoice Registration Portal (IRP) to be managed by the GST Network (GSTN). E-invoicing is a technique under which invoices are electronicall......

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Shri Bhupender Yadav, Hon’ble Minister (L&E), The Ministry of Labour & Employment, has launched e-SHRAM portal on 26th August 2021. Ministry is continuously working on improving life and dignity of Labour force of country by protecting & safeguarding the interest of workers, promotion of welfare and providing social security to the Labour force both in Organized and Unorganized S......

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About Article: This article contains various Compliance requirements for the Month of March, 2022 under various Statutory Laws. Compliance means “adhering to rules and regulations.” Compliance is a continuous process of following laws, policies, and regulations, rules to meet all the necessary governance requirements without any failure. If you think compliance is expensive, try non?......

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EPF is the main scheme, under which retirement benefits are accumulated, launched under the Employees' Provident Funds and Miscellaneous Provisions Act, 1952 and which is managed under the aegis of Employees' Provident Fund Organisation (EPFO). Applicability: EPF covers every establishment in which 20 or more people are employed and certain organisations are covered, subject to certain condit......

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Finance Minister, Smt Nirmala Sitharaman, has announced the introduction of Digital Rupee to be issued by the Reserve Bank of India starting 2022-23 while presenting the Union Budget 2022-23 in the Parliament. The Reserve Bank of India will launch the CBDC from the upcoming financial year that will be backed by blockchain technology. Key Highlights: RBI to introduce Digital Rupee using Bloc......

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About ARTICLE: This article contains various Compliance requirements for the Month of February, 2022 under various Statutory Laws. Compliance means “adhering to rules and regulations.” Compliance is a continuous process of following laws, policies, and regulations, rules to meet all the necessary governance requirements without any failure. If you think compliance is expensive, try n......

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Employee having valid UAN, need to make sure that his or her date of birth (DOB) details are true and correct in Employees’ Provident Fund (EPF) records and also similar as mentioned in the Aadhaar database. In case of mismatch, the UAN holder may face delay in EPF withdrawal claims. According to EPFO: EPF members can update the date of Birth online by submitting Aadhaar or e-Aadhaar ......

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The Insurance Regulatory and Development Authority of India (“IRDAI”) vide Ref. No: IRDAI/NL/GDL/SIC/01/01/2022 dated 03.01.2022, in exercise of the powers conferred under section 14 (2) (i) of IRDA Act, 1999, has issued the IRDAI (Surety Insurance Contracts) Guidelines, 2022 (“Guidelines”) to regulate the business of surety insurance (“Business”) in v......

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Key Highlight: RBI has issued this framework allowing offline payments up to Rs 200 per transaction, subject to an overall limit of Rs 2,000. The Reserve Bank of India (RBI) vide Notification no. RBI/2021-22/146, CO.DPSS.POLC.No.S1264/02-14-003/2021-2022, dated 03.01.2022 has issued a framework for facilitating small-value digital payments in offline mode using cards, wallets, mobile devices, etc......

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Securities and Exchange Board of India (SEBI) vide notification no. SEBI/HO/MIRSD/MIRSD_RTAMB/P/CIR/2022/8 dated 25th January, 2022, in exercise of powers conferred under Section 11 (1) of the Securities and Exchange Board of India Act, 1992 to protect the interests of investors in securities and to promote the development of, and to regulate the securities market read with Regulation 101 of SEBI ......

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Key Highlight: The manner of filing of particulars of transactions by a TReDS on behalf of Factors prescribed by RBI.   The RBI vide Notification no. No. DOR.FIN.081/CGM (JPS)–2022, dated 14.01.2022 has notified the Registration of Assignment of Receivables (Reserve Bank) Regulations, 2022. On January 17, 2022, the Reserve Bank of India (RBI) has issued and published the Registration o......

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Securities and Exchange Board of India (SEBI) on 19th January, 2022 has launched “Saa?thi”, a mobile app on investor education which aims to empower investors with accurate knowledge about the securities market. This application will create awareness among investors about basic concepts of the securities market, KYC (Know Your Customer) process, mutual funds, trading and settlement, r......

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The government has notified the amendment in EPF scheme rules regarding withdrawal of funds from the EPF account to deal with coronavirus-related financial exigencies. The government had allowed employees to withdraw from their provident fund account in case they needed emergency funds due to financial stress caused by the covid-19 pandemic. According to the amended rules, Under the provision, a ......

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RBI notifies market making plan to promote retail participation in G-Secs. The Reserve Bank of India (RBI) vide notification no. RBI/2021-22/147 IDMD. PDRD. No. S1617/03.64.023/2021-22 on 04th day of January, 2022 has introduced the market making scheme to with an objective to promote retail participation in government securities by providing prices/quotes to retail direct gilt (RDG) account hold......

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The Government of India (GoI) imposes a tax liability on taxable income of all persons as defined under the Income Tax Act, 1961, who are individuals, Hindu Undivided Families (HUF's), companies, firms, LLP, association of persons, body of individuals, local authority and any other artificial juridical person. An Income tax return (ITR) is a form used to file information about your income and tax......

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ITR and Audit Reports Due Date Further Extended on 11.01.2022 by CBDT The Central Board of Direct Taxes (Income Tax Department) vide F. No. 225/49/2021/ITA-II  dated 09.09.2021 {CBDT Circular No.01/2022 dated 11.01.2022} has decided to further extend the due dates for filing of Income Tax Returns (ITR) and various reports of audit for the Assessment Year 2021-22. CBDT has considered r......

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Sovereign Gold Bond scheme 2021-22: Online bidders applying for the bond will get a rebate of 50 as issue price of the new series for digital applicants has been fixed at 4,736 per gram. The Government of India (GoI) has announced that 5-day subscription of the new series (Series IX) will open on 10th January, 2022 and it will remain open for bidding till 14th January 2022. Further, the Settleme......

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About Article: This article contains various Compliance requirements for the Month of January, 2022 under various Statutory Laws. Compliance Requirement Under 1. Income Tax Act, 1961 2. Goods & Services Tax Act, 2017 (GST) and Important Updates / Circulars 3 Foreign Exchange Management Act, 1999 (FEMA) and Important Notifications 4. Companies Act, 2013 (MCA/ROC Compliance) and Notificat......

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EPFO members should file e-nomination for EPS to provide Social Security to their families. The scheme is provided by the Employees’ Provident Fund Organisation (EPFO) and ensures that employees receive a pension once they attain the age of 58 years old. Latest Update: EPFOin a tweet has said that the account holders will be able to add nominees through the e-nomination facility even afte......

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The Ministry of Micro, Small and Medium Enterprises (MSME) has implemented various programmes / MSME schemes, policies for the development and promotion of MSMEs Industry across the country. To provide immediate relief to the MSME sector, various announcements (in addition to the various MSME schemes) have been made under the Atmanirbahar Bharat Package. Policy Initiatives: a) Udyam Registratio......

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The Central Government had launched Employees’ Pension Scheme, 1995 in exercise of the powers conferred by Section 6A of the Employees’ Provident Funds and Miscellaneous Provisions Act, 1952 (19 of 1952).  The EPS'95 scheme applies to all the employees of factories and other establishments to which the Employees Provident Funds and Miscellaneous Provisions Act, 1952 applies. Emplo......

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ESOP: Employee Stock Ownership Plan (ESOP) An employee stock ownership plan (ESOP) refers to an employee benefit plan which is intended to encourage employees to acquire stocks or ownership in the company. It offers employees an ownership interest in the organization. Under ESOP, an employee gets the benefit of acquiring the shares of the company at the nominal rate, and sell them (after a define......

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♦ Director’s / Board Report As a move towards greater corporate transparency, a Directors / Board’ report is a financial document that is required to file at end of the financial year by the Companies. It is a financial disclosure made by director to the shareholders of the company in order to maintain transparency in the company to help stakeholders of the company to understand......

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The Ministry of Micro, Small and Medium Enterprises (MSME) has implemented various programmes / MSME schemes for the development and promotion of MSMEs Industry across the country. One of the pressing issues that is impeding the growth of MSMEs in India is the lack of modern technology and equipment. To provide immediate relief to the MSME sector, various announcements (in addition to the various ......

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⇒ Overview The Insolvency and Bankruptcy Board of India (IBBI) vide Facilitation / 001 / 2020 dated 08th May, 2020 has issued circular on “Role of Resolution Professional / Liquidator in respect of Avoidance Transactions for educating the IPs and other stakeholders. of corporate insolvency resolution and liquidation processes The Circular was issued to: All Registered Insolvenc......

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About Article: This article contains various Compliance requirements for the Month of December, 2021 under various Statutory Laws. Compliance Requirement Under Income Tax Act, 1961 Goods & Services Tax Act, 2017 (GST) and Important Updates / Circulars 3 Foreign Exchange Management Act, 1999 (FEMA) and Important Notifications Other Statutory Laws and Updates SEBI (Li......

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“Worth Rs 15, 000 crore incentives for Pharma Industry” A Production-Linked Incentive, or PLI scheme, provides incentives in the form of tax rebates, import and export duty concessions, or maybe easier land-acquisition terms etc. to companies in order to boost domestic manufacturing. This is done by the government in an effort to make products more competitively priced, reduce a count......

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Ministry of Corporate Affairs has further simplified claim settlement process through rationalization of various requirements under Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Rules, 2016 with the mission and vision of Government of India of Ease of Living and Ease of Doing Business. Companies Act, 2013 and rules made thereunder, as amended from time ......

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The Board of Direct Taxes (Income Tax Department) vide Notification No. 129/2021/ F.No. 370142/52/2021-TPL (Part IV) dated 01.11.2021, in exercise of its power under section 245D (11) & 245D (12) of the Income-tax Act, 1961 (hereinafter referred to as “the Act”) has issued a Scheme may be called the e-Settlement Scheme, 2021 to settle pending income-tax settlement applications tran......

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About ARTICLE: This article contains various Compliance requirements for the Month of November, 2021 under various Statutory Laws. Compliance Requirement Under Income Tax Act, 1961 Goods & Services Tax Act, 2017 (GST) and Important Updates / Circulars Companies Act, 2013 & LLP Compliance (MCA/ROC Compliance) and Notifications Foreign Exchange Management Act, 1999 (FE......

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Q1. Can an existing partnership firm be converted to LLP? Yes, an existing partnership firm can be converted into LLP by complying with the Provisions of clause 58 and Schedule II of the LLP Act. ROC – Filings: Form 17 needs to be filed along with Form 2 for such conversion and incorporation of LLP. Q 2. Can an existing company be converted to LLP? Yes, any existing p......

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The Government of India on Friday, i.e. 22.10.2021 has notified Indian Telegraph Right of Way (Amendment) Rules, 2021 to incorporate the provisions related to nominal one-time compensation and uniform procedure for establishment of overground telegraph line in the Indian Telegraph Right of Way Rules, 2016, and it has fixed a cap of 1,000 per km. In earlier notifications it was 1,000 only per km, ......

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Securities and Exchange Board of India (SEBI) vide notification / Circular No. SEBI/HO/OIAE/IGRD/CIR/P/2021/642 issued and publishes dated 14th October, 2021, “Streamlining issuance of SCORES Authentication for companies intending to list their securities on SEBI recognized stock exchanges” in exercise of powers conferred by Section 11(1) of the Securities and Exchange Board of India A......

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The Department of Posts has launched the digital version of the Postal Life Insurance policy bonds, also termed as “e-PLI bond”. Launched in collaboration with Digi-locker, e-PLI bond is expected to facilitate citizens in a meaningful way by providing ease of access and quick claim settlements. Now, all old and new Postal Life Insurance subscribers would be able to download the digital......

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CBDT clarification regarding carry forward of losses in case of change in shareholding due to strategic disinvestment Aims to make disinvestment deals more attractive for strategic investors In order to make disinvestment deals of ailing state-owned firms more attractive for strategic investors, the government allowed erstwhile public sector companies to carry forward losses to be set off agains......

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About ARTICLE: This article contains various Compliance requirements for the Month of October, 2021 under various Statutory Laws. Compliance Requirement Under Income Tax Act, 1961 Goods & Services Tax Act, 2017 (GST) and Important Updates / Circulars Companies Act, 2013 & LLP Compliance (MCA/ROC Compliance) and Notifications Foreign Exchange Management Act, 1999 (FEM......

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Ministry of Finance vide press release 1759251 dated 29th September, 2021 has extended the scope of ECLGS’ and scheme extended till 31.03.2022 or till guarantees for an  amount of Rs. 4.5 lakh crore are issued under the scheme, whichever is earlier. Further, the last date of disbursement under the scheme has also been extended to 30.06.2022 to support various businesses impacted by the ......

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Under the Company Law provisions, the concept of Section 8 companies permitted companies with charitable objects etc. to be registered without the words ‘Limited’ or ‘Private Limited’. Section 8 continues to provide for restriction on application of profits and permits the same only for the purpose for which the company is promoted, prohibits declaration of dividend, conti......

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Indian Prime Minister, Shri Narendra Modi on Friday, 5th March 2021, while addressing a webinar on the Production Linked Incentives scheme through video conferencing, highlighted the need for reducing compliances burden and said it is the effort of the government to reduce 6,000 compliances burden at the state and Central level this year.  He emphasized the need to make Indian companies and ......

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Highlight: As per the new orders, Aadhaar-based e-KYC process has been reintroduced for issuing new mobile connections. Telecom service providers will be charged Re 1 per customer authentication by the UIDAI. Customer consent has been made compulsory in case the Aadhaar is being used and demographic details are being obtained electronically from UIDAI. Telecon reforms include ......

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IBC refers to Insolvency and Bankruptcy Code, 2016, the Bankruptcy Law of India which seeks to consolidate the existing framework by creating a single law for insolvency and bankruptcy. Certain provisions on Insolvency Law deals with Micro, Small and Medium Enterprises (MSME’s) which are reproduce below for reference. 1. Section 29A of IBC, 2016: Insolvency and Bankruptcy Code (Second Ame......

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The concept of Annual General Meeting (AGM) has been defined under Section 96 of the Companies Act, 2013. It can be considered as an annual gathering of Directors and Shareholders / members of the Company to discuss the future of the Company and also company’s overall performance is analyzed. ⇒ Provisions of Section 96 of Companies Act, 2013 – AGM Related In case of firs......

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The Account Aggregator (AA) network is a financial data-sharing system that could revolutionize investing and credit, giving millions of consumers’ greater access and control over their financial records and expanding the potential pool of customers for lenders and fintech companies. Account Aggregator empowers the individual with control over their personal financial data, which otherwise r......

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"Transport and Marketing Assistance"- “TMA” Key Highlights: Centre Revises "Transport and Marketing Assistance" (TMA) scheme for Specified Agriculture Products’ Dairy products, which were not covered under the earlier scheme, will be eligible for assistance Rates of assistance have been increased, by 50% for exports by sea and by 100% for exports by air In F......

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  • 6345 Views
  • 18 Sep 2021
  • CS Lalit Rajput
  • GST,  Updates,  CBIC,  

The 45th GST Council meeting was held today i.e. on September 17, 2021 under the Chairmanship of Union Finance & Corporate Affairs Minister Smt. Nirmala Sitharaman at Lucknow. The meeting is the first in-person meeting of the GST Council in nearly two years. The previous Council meeting was held via videoconferencing on 12.06.2021. Tthe minister also announced that concessional GST rates on Co......

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The 45th GST Council meeting is scheduled to be held on September 17, 2021 at Lucknow. This will be a significant meeting. This is the first physical meeting after a long time. The previous Council meeting was held via video conferencing on 12.06.2021. ♦ Key matters may be discussed in the upcoming GST Council Meeting: The Constitution (101st) Amendment Act 2016 provides for compensati......

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The central Govt., today, i.e. 15.09.2021, approved approved the Production-Linked Incentive (PLI) scheme for dronesand drone components. It is step towards realising our collective vision of an Aatmanirbhar Bharat. The PLI scheme comes as a follow-through of the liberalised Drone Rules, 2021 released by the Central Government on 25 August 2021.  The PLI scheme and new drone rules are intend......

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The central Govt., today, i.e. 15.09.2021, approved approved the Production-Linked Incentive (PLI) scheme for dronesand drone components. It is step towards realising our collective vision of an Aatmanirbhar Bharat. The PLI scheme comes as a follow-through of the liberalised Drone Rules, 2021 released by the Central Government on 25 August 2021.  The PLI scheme and new drone rules are intend......

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Employees' Provident Fund Organization (EPFO), India Ministry of Labour & Employment, Government of India has issued Instructions for transfer online EPF during this Pandemic situation (COVID-19)" If you do not link your EPF account to Aadhaar by 31st December 2021, the contribution from the company can be stopped. The deadline for linking the EPA account to the Aadhaar card has been extende......

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Employees' Provident Fund Organization (EPFO), India Ministry of Labour & Employment, Government of India has issued Instructions for transfer online EPF during this Pandemic situation (COVID-19)". Members with authenticated Aadhaar and Bank details seeded against their UAN can now submit their PF Withdrawal/Settlement/Transfer claims online. The deadline for linking the EPA account to the Aa......

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♦ One Person Company Sec 2(62) "One Person Company" means a company which has only one person as a member.  For OPC: Return Filing Provisions & AGM ♦ Section 137 of the Companies Act, 2013 One Person Company shall file a copy of the financial statements duly adopted by its member, along with all the documents which are required to be attached to such financial stateme......

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The Central Board of Direct Taxes (Income Tax Department) vide Press Release ID: 1753603 dated 09.09.2021 {CBDT Circular No.17/2021 in F.No.225/49/2021/ITA-II dated 09.09.2021} has decided to further extend the due dates for filing of Income Tax Returns (ITR) and various reports of audit for the Assessment Year 2021-22. CBDT has considered representation w.r.t. difficulties reported by the taxpay......

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About ARTICLE: This article contains various Compliance requirements for the Month of September, 2021 under various Statutory Laws. Compliance Requirement Under Income Tax Act, 1961 Goods & Services Tax Act, 2017 (GST) and Important Updates / Circulars Companies Act, 2013 & LLP Compliance (MCA/ROC Compliance) and Notifications Foreign Exchange Management Act, 1999 (F......

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Income Tax Return (ITR) is a form which a person is supposed to submit to the Income Tax Department of India. It contains information about the person's income and the taxes to be paid on it during the year. Various forms are ITR 1, ITR 2, ITR 3, ITR 4, ITR 5, ITR 6 and ITR 7. When you file a belated return, you are not allowed to carry forward certain losses. ♦ Importance of Income Tax Ret......

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RBI to impose Penalty Rs. 10,000 soon, for non-replenishment of ATMs with cash Key Highlights: Banks to be fined for non-availability of cash in ATMs. The RBI will start imposing penalties on banks in case the ATMs remain out-of-cash for a total period of 10 hours in a month from October 1, 2021, onwards. Banks will have to submit a system generated statement on downtime of ATMs du......

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Income Tax (CBDT) Due Date Further Extended on 29.08.2021 The Board of Direct Taxes (Income Tax Department) vide circular No. 16/2021 dated 29.08.2021, in exercise of its power under section 119 of the Income-tax Act, 1961 (hereinafter referred to as “the Act”) has issued circular w.r.t. Extension of time lines for electronic filing of various Forms under the Income-tax Act, 1961: Ex......

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Ministry of Corporate Affairs made an announcement vide General Circular no. 14/2021 and E-file no.CSR-05/01/2021-CSR-MCA dated 25th August, 2021 with an aim to bring in greater transparency and clarity. The Ministry has notified the amendments in Section 135 of the Act as well in the CSR Rules on 22nd January 2021 with an aim to strengthen the CSR ecosystem, by improving disclosures and by simpli......

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Key Highlights: Cabinet approves continuation of Centrally Sponsored Scheme for Fast Track Special Courts for further 2 years Continuation of 1023 Fast Track Special Court (FTSCs) including 389 exclusive POCSO Courts Outlay of Rs. 1572.86 crore, Rs.971.70 crore as Central Share and Rs.601.16 crore as State share Central Share is to be funded from Nirbhaya Fund Fast Track S......

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Ministry of Commerce and Industry, Minister Sh. Piyush Goyal on 17.08.2021 has announced to provide 80 % fee reduction to all recognized educational institutions applying for patents, whether in India or abroad. Earlier this scheme was available to all recognized educational institutions which are owned by the government of India only but now further extended. Define Patent: A patent is the gra......

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Securities and Exchange Board of India (SEBI) vide notification / Circular SEBI/HO/CFD/CMD1/P/CIR/2021/602 dated 23rd July, 2021, has introduced and published “Extension of time for holding the Annual General Meeting (AGM) by top 100 listed entities by market capitalization” in exercise of the powers conferred under Section 11(1) of the Securities and Exchange Board of India Act, 1992 ......

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Securities and Exchange Board of India (SEBI) vide notification / Circular No. SEBI/HO/CFD/DIL/CIR/P/2021/614 issued and publishes dated 13th August, 2021, has introduced “Guidelines on issuance of non-convertible debt instruments along with warrants (‘NCDs with Warrants’) in terms of Chapter VI – Qualified Institutions Placement of SEBI (Issue of Capital and Disclosure Req......

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Securities and Exchange Board of India (SEBI) vide notification / Circular No. SEBI/HO/CDMRD/DRMP/CIR/P/2021/619 issued and publishes dated 17th August, 2021, has introduced “Penalty for Repeated Delivery Default” in exercise of the powers conferred under Section 11(1) of the Securities and Exchange Board of India Act 1992, read with Section 10 of the Securities Contracts (Regulation) ......

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Highlights: Scheme to boost our exports & competitiveness Sectors like Marine, Agriculture, Leather, Gems & Jewellery, Automobile, Plastics, Electrical / Electronics, Machinery get the benefits of Scheme. Rates of RoDTEP to cover 8555 tariff lines Union Government on August 17, 2021, notified Remission of Duties and Taxes on Exported Products- (RoDTEP) Scheme Guideline......

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The Micro, Small and Medium Enterprises (“MSMEs”) are an extremely critical sector for India’s economic growth. This has been highlighted during the tough times of COVID-19, where special financial stimulus packages have been showered on this sector by the Central Government. Section 18(3) of the Micro, Small and Medium Enterprises Development (MSMED) Act, 2006 provides that whe......

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Prime Minister Shri Narendra Modi  on August 2nd launched digital payment solution e-RUPI, a cashless and contactless instrument for digital payment. Prime Minister said that the eRUPI voucher is going to play a huge role in making Direct Benefit Transfer (DBT) more effective in digital transactions in the country and will give a new dimension to digital governance.   He said e-RUPI......

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Parliament Okays amendment to 2008 law on limited liability partnerships. The Limited Liability Partnership (Amendment) Bill, 2021 has been passed by the Lok Sabha today. i.e. 09.08.2021. It was passed by the Rajya Sabha on 4th August, 2021. Key features of the Bill De-criminalization of procedural & technical defaults under LLP Act, 2008 will incentivize compliance and reduce burden on NC......

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BSE vide notice no. 20210709-9 dated 09 July 2021 has issued a circular w.r.t. Guidance note for companies undergoing Corporate Insolvency Resolution Process.     SEBI (Listing Obligations and Disclosure Requirements) Regulation, 2015 (“LODR Regulations”) was amended in the year 2018 vide SEBI (Listing Obligations and Disclosure Requirements) (Third Amendment) Regu......

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Levies late fee for filing ITR despite the deadline extended The tax department extended the return filing deadline for individual taxpayers for the financial year 2020-21 (assessment year 2021-22) to September 30, 2021, in light of the COVID-19 second wave. The government had given multiple such extensions to taxpayers last year also, considering the hardship caused by covid-19. However, many ta......

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The Board of Direct Taxes (Income Tax Department) vide circular No. 15/2021 dated 03.08.2021, in exercise of its power under section 119 of the Income-tax Act, 1961 (hereinafter referred to as “the Act”) has issued circular w.r.t. Extension of time lines for electronic filing of various Forms under the Income-tax Act, 1961 to provide relief to taxpayers in view of the severe pandemic a......

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Compliance Requirement Under Income Tax Act, 1961 Goods & Services Tax Act, 2017 (GST) and Important Updates / Circulars Foreign Exchange Management Act, 1999 (FEMA) and Important Notifications Other Statutory Laws and Updates SEBI (Listing Obligations & Disclosure Requirements) (LODR) Regulations, 2015 SEBI Takeover Regulations 2011 SEBI (Prohibition of......

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MSME and Small scale industries (SSI) are very important plays vital role in the economic growth of the Company because it helps in increasing employment and economic development of the country. These enterprises account for more than 40% of the total production of goods and services in India. They are one of the main reasons for the growth and strengthening of the economy. the Ministry of Micro, ......

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Limited Liability Partnership Amendment Bill, 2021 The Cabinet on 28th day of July, 2021, Wednesday, approved amendments to the Limited Liability Partnership (LLP) Act for decriminalising offences under the law as the government looks to improve ease of doing business and encourage start-ups. LLPs are becoming popular among start-ups. Currently, there are 24 penal provisions in the LLP Act, 21 c......

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Key Highlights Government taking steps to make India a hub for aircraft leasing and financing Leasing Units exempted from corporate tax for a block period of 10 years Unified Regulator for IFSC announced World Class Fin-Tech hub to be developed at the GIFT-IFSC to promote domestic aircraft manufacturing Government has taken a number initiatives for to make India a hub for ......

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The Insolvency and Bankruptcy Board of India (IBBI) vide circular no. No. IBBI/IPA/43/2021 dated 28th day of July 2021, has issued circular on the topic “Monetary Penalties to be imposed by an Insolvency Professional Agency” in exercise of powers under section 196 of the Insolvency and Bankruptcy Code, 2016. IBBI move seeks to ensure insolvency professionals remain compliant with the ......

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Government has taken a number initiatives for providing financial assistance to the Micro, Small and Medium Enterprises (MSMEs) to cope with the financial impact of the COVID-19 pandemic which inter-alia include measures such as : 20,000 crore Subordinate Debt for MSMEs, 4.5 lakh crore Collateral free Automatic Loans under Emergency Credit Line Guarantee Scheme (ECLGS) for businesses, ......

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Securities and Exchange Board of India (SEBI) vide notification / Circular No. SEBI/HO/MIRSD/DOP/P/CIR/2021/595 issued and publishes dated 16th July, 2021, has introduced “Block Mechanism in demat account of clients undertaking sale transactions” Section 11(1) of the Securities and Exchange Board of India Act, 1992, and Section 19 of the Depositories Act, 1996. The mechanism would do ......

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Securities and Exchange Board of India (SEBI) vide notification / Circular dated 05th May, 2021, has introduced amendments to SEBI (LODR) Regulations, 2015 and published “Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) (Second Amendment) Regulations, 2021”. New Provision (effective immediately unless otherwise prescribed) Link of the circular:......

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Government tenders to attract GST, deemed a service Maharashtra Authority for Advance Ruling (AAR): any tendering should attract GST on the processing fee and that 18% GST should apply wherever such forms are bought online or offline. Both online and offline tendering would be considered as “supply of service. Case Details: Case Name: Maharashtra State Dental Council (GST AAR Maharashtra......

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Securities and Exchange Board of India (SEBI) vide notification / Circular No. SEBI/HO/IMD/DF3/CIR/P/2021/014 issued and publishes dated 29th January, 2021, has published “Circular on Revision of Monthly Cumulative Report” in exercise of the powers conferred under Section 11 (1)  of  the  Securities  and  Exchange  Board  of  India  Act,&nbs......

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Employees' Provident Fund Organization (EPFO), India Ministry of Labor & Employment, Government of India has issued and launches electronic facility for PRINCIPAL EMPLOYERS to view EPF compliances of their contractors". EPFO has introduced a facility for interlinking of Principal Employers with respective contract employers for effective compliance. ♦  Principal Employer: In a fa......

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Including Covid-19 relaxations / updates Goods and Services Tax is an indirect tax used in India on the supply of goods and services. The Goods and Service Tax Act was passed in the Parliament on 29th March 2017 and came into effect on 1st July 2017. It is a comprehensive, multistage, destination-based tax: comprehensive because it has subsumed almost all the indirect taxes except a few state ta......

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On the occasion of World Population Day 2021, Uttar Pradesh CM, Yogi Adityanath, inaugurated the state’s population policy 2021-30. He further stated that rising population is the root cause of major problems including inequality. He unveiled the state's new population policy, which aims to incentivize people to help in population control. The unveiling coincided with the World Population Da......

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MCA21 is an e-Governance initiative of Ministry of Corporate Affairs (MCA), Government of India that enables an easy and secure access of the MCA services to the corporate entities, professionals and citizens of India. ♦ Key MCA / ROC Circulars in brief: 1. New MCA E-form Introduced: CSR related Compliance CSR -1 : Filing of Form CSR-1 with the Registrar of Companies (MCA) for registratio......

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Insolvency and Bankruptcy Board of India (IBBI) has issued a circular on “Retention of records relating to Corporate Insolvency Resolution Process (CIRP) by an Insolvency Professional” vide circular no. No.: IBBI/CIRP/38/2021 dated 06th January, 2021 in exercise of the powers under clauses (aa) and (g) of sub-section (1) of section 196 of the Code read with regulation 39A of the CIRP R......

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This article contains various Compliance requirements for the Month of July, 2021 under various Statutory Laws. Compliance Requirement Under Income Tax Act, 1961 Goods & Services Tax Act, 2017 (GST) and Important Updates / Circulars Other Statutory Laws and Updates Foreign Exchange Management Act, 1999 (FEMA) and Important Notifications SEBI (Listing Obligations &......

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♦ Overview Securities and Exchange Board of India (SEBI) vide report dated 27th January, 2021 has issued and publishes Consultation Paper for public comments on “Consultation Paper on introduction of provisions relating to appointment or re-appointment of persons who fail to get elected as Whole-time directors or Managing Directors at the general meeting of a listed entity”......

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♦ Relaxations to the FBOs due to Covid-19 Pandemic Regulatory Compliance Division of Food Safety and Standards Authority of India (FSSAI) vide circular No. 15(6)2020/FLRS/RCD/FSSAI dated 23.06.2021 has decided to facilitate the FBOs and ensure ease of doing business by providing following extension in relaxations provided earlier vide FSSAI circular dated 2004.2021 due to spike in the cases......

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The Institute of Chartered Accountants (CA) of India, with the approval of the Central Government, vide notification no. No. 1-CA(7)/196/2021 dated 22.06.2021 & Gazette Id No. CG-DL-E-23062021-227811, made amendment to the Chartered Accountants Regulations, 1988 ♦ Applicability: With effect from the date of their publication in the Official Gazette i.e. 22.06.2021. ♦ Key Highlig......

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Ministry of Micro, Small and Medium Enterprises Extends Validity of Udyog Aadhaar Memorandum from 31st March, 2021 to 31st December, 2021. Ministry of Micro, Small and Medium Enterprises vide notification no. 2347(E) dated 16.06.2021 & F. No. PY-10024/6/2021-P and G-DCMSME, made amendment to the original notification No. S.O. 2119 (E) dated 26.06.2020 and provides the extension of the validit......

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The 44th GST Council met under the Chairmanship of Union Finance & Corporate Affairs Minister Smt. Nirmala Sitharaman via video conferencing today i.e. 12th day of June, 2021, Saturday, via video conferencing in New Delhi. Union minister of state (MoS) for finance Anurag Thakur and finance ministers of states and Union territories (UTs) are also attending the virtual meeting, which is being h......

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Highlights: Companies (Incorporation) 4th Amendment Rules 2021 Ministry of Corporate Affairs (MCA) notification dated 07th June, 2021 has notified the Companies (Incorporation) 4th Amendment Rules 2021 in exercise of the powers conferred under Section 469 (1) & 469 (2) of the Companies Act, 2013, further to amend the Companies (Incorporation) Rules, 2014. Applicability: from the date of publ......

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This article contains various Compliance requirements for the Month of June, 2021 under various Statutory Laws. Compliance Requirement Under                    Foreign Exchange Management Act, 1999 (FEMA) and Important Notifications Income Tax Act, 1961 Goods & Services Tax Act, 2017 (GST......

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The 43rd GST Council met under the Chairmanship of Union Finance & Corporate Affairs Minister Smt. Nirmala Sitharaman via video conferencing on Friday, 28th day of May, 2021 via video conferencing in New Delhi to discuss various matters which includes, GST Amnesty Scheme, Relaxation in Returns Filings, exemption on GST for hand sanitisers, face masks, gloves, PPE Kits, temperature scanners and......

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The 43rd GST Council met under the Chairmanship of Union Finance & Corporate Affairs Minister Smt. Nirmala Sitharaman via video conferencing today i.e. 28th day of May, 2021 via video conferencing in New Delhi. Union minister of state (MoS) for finance Anurag Thakur and finance ministers of states and Union territories (UTs) are also attending the virtual meeting, which is being held to final......

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Keeping in view the resurgence of the COVID-19 pandemic and the representations received from various bank and non-bank entities, it has been decided to extend the timeline of certain compliance Norms with respect to the Various Payment System Requirements. The Reserve Bank of India (RBI) vide circular No. RBI/2021-22/41  -- CO.DPSS.POLC.No.S-106/02-14-003/2021-2022 dated 22.05.2021, in exer......

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The Board of Direct Taxes (Income Tax Department) vide circular No. 09/2021, (F. NO.225/49/2021-ITA-1I dated 20.05.2021, in exercise of its power under section 119 of the Income-tax Act, 1961 (hereinafter referred to as “the Act”) has issued circular w.r.t. Extension of time limits of certain compliances to provide relief to taxpayers in view of the severe pandemic and spike in Covid-1......

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(The Food Safety and Standards (Labelling and Display) Regulations, 2020) MINISTRY OF HEALTH AND FAMILY WELFARE, Food Safety and Standards Authority of India (FSSAI) vide Gazette ID CG-DL-E-19122020-223813 issued dated 18th November, 2020 and published in Gazette on 10.12.2020, has come up with The Food Safety and Standards (Labelling and Display) Regulations, 2020 in exercise of the powers confe......

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About Article : This article contains various Compliance requirements for the Month of May, 2021 under various Statutory Laws. Compliance means “adhering to rules and regulations.” Compliance is a continuous process of following laws, policies, and regulations, rules to meet all the necessary governance requirements without any failure. If you think compliance is expensive, try non? ......

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Delhi, CM, on 25th day of April, 2021 has announced and extended the Lockdown in Delhi for further period of one week, till 03rd May, 2021 (till 5 am) which now again has been extended by one further week time. Earlier, lockdown was imposed last week, from April 19, 2021, to April 26, 2021. Only the essential services will be allowed during the lockdown and the movement of the individuals, howeve......

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ICSI Clarification dated 24th April, 2021: In view of the Covid-19 Pandemic, it has been decided by the Institute to award structured CPE Credits to the members attending the programmes organized by HQs, ROS, Chapters, CCGRT and CoE through electronic mode during May 1, 2021 till June 30, 2021. The structured CPE Credit will be considered for the year 2020-21 only. That means physical attendance......

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The Council of the Institute of Company Secretaries of India (ICSI) has notified ICSI (Continuous Professional Education) Guidelines, 2019 [‘ICSI (CPE) Guidelines, 2019’] for every member of the ICSI. Extension of CPE Timeline for the year 2020-21 Kindly note that ICSI on 27th March, 2021 has given notification stating EXTENSION OF TIME FOR OBTAINING THE MANDATORY CPE CREDITS UPTO 30......

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 About Article : This article contains various Compliance requirements for the Month of April, 2021 under various Statutory Laws. Compliance means “adhering to rules and regulations.” Compliance is a continuous process of following laws, policies, and regulations, rules to meet all the necessary governance requirements without any failure. If you think compliance is expensive, t......

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1. EPF Contribution- From April 1, 2021, interest on employee contributions to provident fund above Rs 2.5 lakh per annum will be taxable. The changeover was made with the intention of taxing high-income earners who contribute towards the Employees' Provident Fund (EPF), but the government has argued that it will affect less than 1% of contributors. The EPF is for the benefit of employees, and t......

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ABOUT ARTICLE: This article contains various Compliance requirements for the Month of March, 2021 under various Statutory Laws. If you think compliance is expensive, try non? compliance” Compliance Requirement Under 1. Income Tax Act, 1961 2. Goods & Services Tax Act, 2017 (GST) and Important Updates / Circulars 3. Other Statutory Lawsand Updates 4. Foreign Exchang......

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Central Board of Direct Taxes (CBIC), Ministry of Finance, (Department of Revenue), vide Gazette ID CG-DL-E-27022021-225559 and Notification No. 10/2021/F. No. 370142/35/2020-TPLdated 27thFebruary, 2021has come up with the notification in partial modification of the notification of the Government of India in the Ministry of Finance, (Department of Revenue) No.93/2020 dated the 31st December, 2020,......

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Central Board of Indirect Taxes and Customs (CBIC), GST Policy Wing vide Circular no. 146/02/2021-GST and F.No.CBEC-20/16/38/2020-GST dated 23rd February, 2021 has issued Clarification in respect of applicability of Dynamic Quick Response (QR) Code on B2C invoices and compliance of notification 14/2020- Central Tax dated 21st March, 2020 - Reg. The Circular was issued to: The Principal Chie......

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What is GST Audit? Audit under GST is the process of examination of records, returns and other documents maintained by a taxable person. The purpose is to verify the correctness of turnover declared, taxes paid, refund claimed and input tax credit availed, and to assess the compliance with the provisions of GST. Key Objective: 1. To ensure and promote the correctness of turnover declared, tax......

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FSSAI notifies Alcoholic Beverage Standards’ amendment Regulations The Food Safety and Standards (Alcoholic Beverages) First Amendment Regulations, 2020 MINISTRY OF HEALTH AND FAMILY WELFARE, Food Safety and Standards Authority of India (FSSAI) vide Gazette ID CG-DL-E-19122020-223813 dated 18th December, 2020 has come up with the Food Safety and Standards (Alcoholic Beverages) First Amendm......

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Q1: What is QRMP scheme and what are its benefit? A: Quarterly Return, Monthly Payment of Taxes (QRMP) Scheme is a scheme to simplify compliance for small taxpayers. Under this scheme, taxpayers having an aggregate turnover at PAN level up to Rs. 5 crore can opt for quarterly GSTR-1 and GSTR-3B filing. Payment can be made in the first two months by a simple challan in FORM GST PMT-06. For th......

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Ministry of Corporate Affairs (MCA) vide Gazette ID No.  CG-DL-E-11022021-225116 and F. No. 5 /1 /2020-CL.I  dated 11th day of February, 2021 has released the the Producer Companies Rules, 2021 in section 378H (4) and section 378ZL (1) read with section 469 (1) & (2) of the Companies Act, 2013, and in supersession of the Producer Companies (General Reserve) Rules, 2003, exc......

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MCA21 Version 3.0 to be launched in Fiscal 2021-22 Ministry of Corporate Affairs vide Press Release no. 1695473, dated 05th February, 2021 has come out with MCA Version 3.0 outline and key features. This Version will have additional modules for e-Adjudication, e-Consultation and Compliance Management. MCA Version 3.0 MCA21 V3 Project is a technology-driven forward looking project, envisioned to......

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About Article : This article contains various Compliance requirements for the Month of February, 2021 under Statutory Laws. Compliance means “adhering to rules and regulations.” Compliance is a continuous process of following laws, policies, and regulations, rules to meet all the necessary governance requirements without any failure. If you think compliance is expensive, try non-comp......

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One Person Company: Sec 2(62) "One Person Company" means a company which has only one person as a member. For OPC: Return Filing Provisions & AGMSection 137 of the Companies Act, 2013 One Person Company shall file a copy of the financial statements duly adopted by its member, along with all the documents which are required to be attached to such financial statements, within one hundre......

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For those opting for Aadhaar authentication, new GST registration will be issued within three working days and would not need to wait for physical verification. However, those not opting for Aadhaar authentication for GST registration would be granted it only after physical verification of the place of business or documentary verification which may take up to 21 working days or more if notice is i......

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About Article : This article contains various Compliance requirements for the Month of December, 2020 under Statutory Laws. Compliance means “adhering to rules and regulations.” Compliance is a continuous process of following laws, policies, and regulations, rules to meet all the necessary governance requirements without any failure. If you think compliance is expensive, try non? com......

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NEFT - National Electronic Funds Transfer What is NEFT? NEFT is a nation-wide payment system that allows transfer of funds from one bank account to another. Individuals, firms and corporates can transfer the money from one bank branch to any other bank account held by individual, firm or corporate in the country. 24X7 Availability: NEFT allows individuals, firms, corporate to transfer money from......

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About Article This article contains various Compliance requirements for the Month of December, 2020 under Statutory Laws. Compliance means “adhering to rules and regulations.” Compliance is a continuous process of following laws, policies, and regulations, rules to meet all the necessary governance requirements without any failure.If you think compliance is expensive, try non? complia......

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Listed Companies – Be Alert !!!!! NSE and BSE both vied Circular Ref No: NSE/CML/2020/53 and notice no. 20201106-39 dated 06.11.2020, respectively has issued circular stating Action(s) to be initiated against listed companies for non-payment of outstanding Annual Listing Fees (“ALF”) for Financial Year 2020-21. This Circular has been issued to: The Company Secretary / Complian......

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Introduction: GST Council in its 42nd meeting held on 05.10.2020, had recommended that registered person having aggregate turnover up to five (5) crore rupees may be allowed to furnish return on quarterly basis along with monthly payment of tax, with effect from 01.01.2021. Eligibility for the QRMP Scheme: In terms of notification No. 84/2020- Central Tax, dated 10.11.2020, a registered person......

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“Discontinuation of Returns Reports under FEMA, 1999” Overview Reserve Bank of India (RBI) vide notification / Circular No. RBI/2020-21/66 A.P. (DIR Series) Circular No. 05 dated 13th November, 2020, has published Discontinuation of Returns/ Reports under Foreign Exchange Management Act, 1999 ” in exercise of the powers conferred under sections Section 10(4) and 11(2) of the Fo......

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OverviewSecurities and Exchange Board of India (SEBI) vide notification / Circular No. SEBI/HO/DDHS/DDHS/CIR/P/2020/231 issued and publishes dated 13th November, 2020, has published Non-compliance with provisions related to continuous disclosures” in exercise of the powers conferred under sections 11(1) and 11A(2) of the SEBI Act, 1992 read with Section 9 and 21 of Securities Contracts (Regu......

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About Article : This article contains various Compliance requirements for the Month of November, 2020 under Statutory Laws. Compliance means “adhering to rules and regulations.” Compliance is a continuous process of following laws, policies, and regulations, rules to meet all the necessary governance requirements without any failure. Compliance Requirement Under Income Tax Act, 196......

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The National Medical Commission (NMC),  with an of aim affordable medical education has notified its first major regulation titled as 'Minimum Requirements for Annual MBBS Admissions Regulations 2020 to replace the Minimum Standard Requirements for Medical Colleges, 1999 of the erstwhile Medical Council of India (MCI). Applicability: applicable to all new medical colleges proposing to be es......

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Key highlights: MSME Ministry introduces Artificial Intelligence (AI) and Machine Learning (ML) strengthening its Single Window System Portal ‘Champions’ to assist MSMEs of the country. Ministry implements AI & ML tools to get insights into MSME related issues and grievances for their quick and effective resolution. AI & ML analytics can be seen at the “AI ......

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This article contains various Compliance requirements for the Month of October, 2020 under Statutory Laws. Compliance means “adhering to rules and regulations.” Compliance is a continuous process of following laws, policies, and regulations, rules to meet all the necessary governance requirements without any failure.If you think compliance is expensive, try non? compliance” Comp......

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The 42nd GST Council met under the Chairmanship of Union Finance & Corporate Affairs Minister Smt. Nirmala Sitharaman via video conferencing today i.e. 05th day of October, 2020 via video conferencing in New Delhi. Union minister of state (MoS) for finance Anurag Thakur and finance ministers of states and Union territories (UTs) are also attending the virtual meeting, which is being held to f......

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Government has announced several measures to promote growth, investment and create new employment opportunities through the amendments in the Income-tax Act, 1961 and the Finance Act (No. 2), 2019. Following measures has been measures taken by Ministry of Finance: reduction in the corporate tax rate from 30% to 22% provided the company did not avail any exemption or incentive. an option......