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Highlights of Limited Liability Partnership Amendment Bill 2021

Continuing with the efforts to boost ease of doing business as well as to encourage startups ecosystem, the government on 28th July 2021 approved amendments to the Limited Liability Partnership (LLP) Act, including decriminalising 12 offences under the law. The Finance Minister said that they are bridging this gap. And making LLPs far more attractive and […]

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ROC Compliance Calendar for the month of Oct 2021 & Recent updates

1. MCA extends due date for AGMs by two months  Companies get till end November to hold AGM for financial year 2020-21 In what could come as some respite for companies, especially small and medium ones, the Ministry of Corporate Affairs (MCA) has extended the due date for holding annual general meetings (AGMs) for the

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Procedure of Enrollment of GST and Getting Provisional ID

The first step towards getting a GST license involves obtaining a provisional identification number. All eligible businesses that are yet to complete their registration must start the enrollment process as soon as possible. To kickstart the GST registration process, businesses have to file an enrolment form and provide some necessary supporting documents.   What are

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INPUT TAX CREDIT CANNOT BE CLAIMED ON INDIRECT EXPENSES

The Maharashtra Authority of Advance Ruling (AAR) ruled that Input Tax Credit cannot be claimed on Indirect Expenses like rent, commission, professional fees, telephone incurred for purpose of business. The applicant, Deccan Wheels purchases second-hand cars (goods) and after minor processing on it such as change of tires, change of battery, painting, denting, repairs, servicing,

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