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Updates found with '500 km'

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Updates found with '500 km'

GST UPDATE:What is the penalty of non-filling of E-way Bill ? Is it editable ?Ans.: The penalty of non-filling of E-way Bill is 200% of GST value of invoice. And please note that there is no editing in E-way bill after final submission.What is the validity of E-way Bill?Ans.: The validity of E-way Bill is:#00 to 100 Km. : 01 Days#100 to 300 Km.: 03 Days#300 to 500 Km. : 05 Days#500 to 1000 Km. : 10 Days#More than 10000 km.: 15 DaysWhat is Consolidated E-way Bill?Ans.: consolidated E-way bill is generated when the transporter is carrying multiple consignments in a single vehicle. Consolidated E-Way allows the transporter to carry a single document , instead of a separate document for each consignment in a conveyance.Any Printout of E-way bill need with the Invoice of Goods?Ans.: No Printout need with the Invoice of Goods, show only number of E-way bill in front of InvoiceWhat is the Identity of Goods in E-way Bill?Ans.: The Goods will be identified with the HSN Code shown in E-way BillWhat is the limit of fill Part B in E-way Bill?Ans.: If the material Dispatch less than 10Km. through by hand or Rickshaw part B will not be requiredHow Many part file in E-way Bill?Ans.: There are 2 part of E-way bill, it’s A and B. Part A, we have to mention the detail of Goods receiver , items detail and Value of Goods. Part B is a Column of Transporter details such as Transport name, vehicle number, and GR numberWhat Amount is cover under E-Way Bill?Ans.: Material valued up to Rs. 50000/= are not covered under E-way Bill, if the total Value of material who load in a single vehicle more than 50000/= E-way bill will be generated by the Transporterwhat type of supply is cover under E-Way Bill?Ans.: There are all type of movements of Goods Cover under E-Way Bill. Which Include Rejection, Sale Return, Repair and Maintance and Job Work or material send for Job Work with a Delivery Challan. A approx Value will be there on Delivery Challan of Job work and make a E-way Bill for this ChallanWho is responsible for E-way Bill ?Ans.: The responsibility for E-way Bill is of:Ist – The SupplierIInd – The receiverIIIrd – the Registered person if Purchase or sale from a Un-Registered Person/dealerE-Way bill will be implementing from 01-02-2018 in all over India. Some important FAQ of E-Way Bill:
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*Key take-outs from the 17th Meeting of GST Council held on 18th July*1. *GST Council categorically decided to implement GST from 1st July*. There will be a special launch of GST in Delhi on the mid-night of 30th June and 1st July.2. *Relaxation in Return filing time-line for first 2 months*:A summary return form in GSTR-3B will required to be filed on self-declaration basis for first 2 month i.e. July and August by 20th day of next month. I.e. for the month of July, a summary return needs to be filed by 20th august after paying appropriate taxes, and for the month of August, the same needs to filed by 20th September.3. GSTR-1 with invoice level details needs to be filed for the month of July by 5th September, and for the month of August by 20th September. GSTR-2 and GSTR-3 for these 2 months will be filed thereafter.4. *Reduced tax rate for hotels with tariff between 5000-7500*: Reduced tax rate of 18% will apply on the hotels with tariff between Rs. 5000 to Rs. 7500. Restaurants in these hotels will also be taxable at 18%.5. *Tax rate on Lotteries*State-run lotteries will be taxed at 12%Private lotteries will be taxed at 18*6. *Negative List of Composition Scheme*Only 3 products have been added in negative list of Composition Scheme, which means for following 3 products composition scheme will not be available.• Ice cream• Pan masala• Tobacco7. *E-way bill* will be deferred and will be implemented later on once the rules for same will finalized. Till that time, an alternate e-way bill will be introduced to allow the state with their current system. 8. IGST rate of 5% on Ship with full ITC will be applicable.9. GST Council also approved anti-profiteering rule.10. *New Registration in GST will be commenced from 25th June.*
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MCA UPDATE 22.01.2019Highlights of Companies (Amendment) Ordinance 20191. *Commencement Certificate* is mandatory now to be obtain within 6 months of Incorporation without which, it can not comment its business activity or borrow money.2. The ROC can strike off a company if the address of Regd Office is *bogus* or incomplete/improper address. 3. Conversion of public Ltd to Pvt Ltd matters shifted from NCLT to Regional Directorate. 4. Company cannot issue shares at discount, - heavy penalty imposed on violation. 5. Alteration of Authorised Capital to be intimated within 30 days, default - penalty 1000 every day or 5 Lac whichever is less.6. Creation of charge filing with ROC- time limit *reduced* from 300 days to 60 days. 7. Wrong statement/ information in filing Charge forms with ROC may lead to misrepresentation and *jail*8. *Annual Return* should be filed within 60 days from AGM, failure to this, penalty of 100 per day to Company + directors max 5 Lakh apart from ROC delay charges is applicable. 9. Penalty of 5 lakh to Company secretary certifying wrong Annual Return. 10. Explanatory statement to be given with Notice of General Meeting must contain all details as required by Law, if no detail/short detail/misleading - penalty for Company + Directors + KMP - 50K11. *filing of Resolutions* with ROC- delay will be *very costly* now. Penalty for defaulter increased substantially. 500 every day max 25 Lakh12.Filing of Balance sheet with ROC within time limit- failure is costly for Company + Directors both. Penalty of 100 per day + 1 lakh to Company + Director each. 13. *Resignation of Auditor* must be filed by the resigning Auditor within 30 days, failure to which the resigning Auditor is liable for penalty of 50, 000 + 500 per day. 14. A director can not become director in morethan 20 companies. If he continues, he becomes disqualified now. 15. Appointment of CS on payroll (Pvt Co having paid-up capital 5 cr & above) is mandatory. Default is now very costly- penalty increased substantially. 16. ROC may strike off a company if subscribers have not paid initial share capital after incorporation of a Company within 6 months.
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