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CA CS Nilay Shah
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MCA: DIR-3KYC for all Directors
MCA has updated following Important Notice on its website: As part of updating its registry, MCA would be conducting KYC of all Directors of all companies annually through a new eform viz. DIR-3 KYC to be notified and deployed shortly. Accordingly, every Di...
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MAJOR AMENDMENTS IN INCOME TAX APPLICABLE FOR A.Y. 2018-19 wef 1.4.2018
1. Limit for payment of expenses by cash (Both capital and revenue expenditure) reduced from RS. 20,000 to RS. 10,000 per day in aggregate per person.  2. No Person shall receive an amount of two lakh rupees or more, by cash (Sec 269ST).  3. For below Rs. 2...
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GST : TRADERS WITHIN REVENUE THRESHOLD OF 1.5 CR WILL UNDER EXCLUSIVE CONTROL OF THE STATE
GST Council says states will get exclusive control over all dealers up to a revenue of Rs1.5 crore—addressing the issue of dual control over small traders In a big step towards the implementation of the goods and services tax (GST), the centre and the state...
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Perks Gifts to Employees May Come Under GST
Cos could however claim input tax credit on intra-company transactions. India Inc may have to deal with another avatar of GST — the tax may be applicable on senior executives’ big-ticket perquisites over and above those mentioned in the employment contract ...
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GST: Directors face higher risks for tax default
The goods and services tax (GST), India’s new indirect tax regime, makes directors of private limited companies liable for recovery of unpaid taxes, interest or penalties pertaining to supply of goods or services. To complicate matters, the GST Acts do not ...
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Arun Jaitley: System geared up for GST from July 1
The government has notified the implementation of the central goods and services tax (C-GST) from July 1, making it clear that the roll out of the new indirect tax regime is on course. “I don’t see much of a problem. Small issues will always arise whenever ...
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