Government

GSTPAM Request Union Finance minister To Extend last Date For GST Filing & Audit

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On 13th August, the Goods & Services Tax Practitioners Association of Maharashtra (GSTPAM) officially requested Smt. Nirmala Sitharaman, Union Minister of Finance (GOI) to extend the due date for filing GSTR-9 & GSTR-9C for FY2017-18 & other due dates falling in August and September 2019. Established in 1951, the GSTPAM has over 3,200 members including …

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Not Yet Filed BEN-2 Form? Last Date of Filing Extended To 30th September with Relaxation of Additional Fees

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In a previous article Companies to file Form BEN-2 to ROC to Declare Significant Beneficial Owners (SBO) [Read Here], we provided information about how the Ministry of Corporate Affairs (MCA) amended Companies Significant Beneficial Owners (SBO) Rules, 2018 in February 2019. The goal of this amendment is to simplify the identification of a company’s SBOs. …

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Name Change Applications In Maharashtra: Nightmare Or Windfall ?

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In the 14-month period between April 2018 and June 2019, the Government of Maharashtra received almost one lakh change-of-name applications. This massive number translates into a healthy financial windfall of nearly 5 crore rupees or about 500 rupees per application! Reasons given for desiring a name change include: The ‘standard’: marriage, divorce, change of religion …

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Government Plans To Amend LLP act 2008 to Standardise LLPs and ***** Down Nefarious Activities !!!

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The government of India is planning to amend Section 67 of Limited Liability Partnership (LLP) Act 2008 along the lines of The Companies Act. The main push for this amendment comes after a realisation that the laws governing Indian LLPs are less stringent compared to the laws governing companies. At the moment, LLPs are not …

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Companies to file Form BEN-2 to ROC to Declare Significant Beneficial Owners (SBO)

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On 8th February 2019, the Ministry of Corporate Affairs (MCA) amended Companies (Significant Beneficial Owners) Rules, 2018 to make it easier for the MCA to identify the key owners of a company. The new rules are meant to provide clarity to determine individuals or entities that are Significant Beneficial Owners (SBO) of a company.  They …

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2.1 million Company directors may get another chance to adhere to KYC rules

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The government is considering giving another opportunity to 2.1 million company directors who have failed to comply with the ‘know your customer’ (KYC) norms, according to a senior official. The government could give another 15 days for meeting the compliance norms or reduce the penalty for late filing, the official said, requesting not to be …

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