FINANZAMANAGEMENT 592282e3a958ff0a889431c4 False 104 1
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*MCA extends Condonation of Delay Scheme 2018 (CODS 2018) to 30.04.2018* MCA has extended the much desirous Condonation of Delay Scheme 2018 (CODS 2018) till 30.04.2018 vide General Circular No. 02/2018 dated 28th March 2018.. This was much needed as many of the companies were not able to opt for the scheme as the formalities for new director addition (in case of other directors being disqualified), Changing Efiling Status to Active from Under Process of Striking Off etc were not completed even till today.
*MCA files Prosecution against 780 listed Companies for Non-Filing of Financial Statements and Annual Returns* The Government has taken any steps against listed companies which are not functioning. Ministry of Corporate Affairs (MCA) has filed prosecution against 780 listed companies under various sections of Companies Act, 2013 due to non-filing of Financial Statements and Annual Returns. As on 31st December 2015, there were 15.19 lakh registered companies in India. Of these, 10.7 lakh companies were active in which 7, 269 were listed companies. There were only 7, 270 active listed companies out of 17.21 lakh registered companies as on December 2017 whereas in December 2014 there were 7, 261 active listed companies out of 14.39 lakh registered companies in India. This was stated by Union Minister of State for Law & Justice and Corporate Affairs P.P. Chaudhary in Lok Sabha today.
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Goods And Service tax
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Major Data Gaps between Self-declared Liability in FORM GSTR-1 and FORM GSTR-3B: GST Council recommends Adequate Action In the 26th meeting held here today, the GST Council has been apprised of the fact that CBEC and GSTN have started detailed data analytics across a number of data sets available with them. The outcome of preliminary data analysis has revealed interesting insights: It has emerged that there is variance between the amount of IGST & Compensation Cess paid by importers at Customs ports and input tax credit of the same claimed in GSTR-3B. There are major data gaps between self-declared liability in FORM GSTR-1 and FORM GSTR-3B. It was deliberated that this information may be further analysed and adequate action may be initiated accordingly.
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FM @arunjaitley after 26th GST Council Meeting said that existing system of filing returns has been extended for another 3months and meanwhile, GOM on the IT will look into it & consult tax experts among others.