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Updates found with 'certificate'

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Updates found with 'certificate'

GSTIN display on sign boards must for businesses!!!!!!!Government makes it mandatory for traders and businesses to display GSTIN on their business sign boards and the registration certificate on their premisesAlso, composition dealers will have to mention that they are availing the composite scheme and are not entitled to collect taxes from people. “Every taxable person is required to display his Goods and Services Taxpayer Identification Number (GSTIN) on name board or sign board of business and is also required to display his registration certificate in business premises so that a citizen can easily find out whether a person is registered or not, ” a tax official said.The composition dealer is required to mention in the business premises along with registration certificate that he is not entitled to collect tax from taxpayers. “That is the legal requirement. So that the citizen can find out whether the person from whom he is buying is entitled to collect tax from him or not, ” the official added.The GSTIN is a 15-digit number which taxpayers get after registering with the GST Network portal. Initially, a business is given a provisional ID on logging into the portal and within 3 months the business has to complete the registration process by giving details of business. This provisional ID is then converted to GSTIN.Revenue secretary Hasmukh Adhia said that if a business entity does not generate certificate of registration within 90 days then the provisional ID will stand cancelled. The GST, which subsumes service tax, excise and VAT, has been implemented from 1 July.
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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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