Tuesday, 16 January, 2018 - Wednesday, 31 January, 2018

Vistra India Update 344

January 16 - January 31, 2017

COMPANY LAW

Companies (Registration office and fees) Amendment Rules 2018

Ministry of Corporate Affairs has amended Companies (Registration office and fees) Rules, 2014 to provide that the option available to Registrar to allow fifteen days’ time to the person or company which has filed the application or e-Form or document for furnishing further information or for rectification of the defects or incompleteness or for re-submission of such application or e-form or document shall not be available in respect of the application for  reservation of a name through web service – RUN. Further the MCA has also updated table of fees

Click to view the circular

Companies (Incorporation) Amendment Rules 2018

Ministry of Corporate Affairs (MCA) has amended Companies (Incorporation) Rules, 2014 to enable making of an application for reservation of name through the web service available at www.mca.gov.in by using RUN (Reserve Unique Name) along with fee. The amended rules also introduces new Form No.INC-32 (SPICe) for incorporations, RUN (Reserve Unique name). Other amendments include:

Application for the incorporation of a company having more than seven subscribers or where any of the subscriber to the MOA/AOA is signing at a place outside India, MOA/AOA shall be filed with INC-32 (SPICe) in the respective formats as specified in Table A to J in Schedule I without filing form INC-33 and INC-34

Companies to be incorporated with a nominal capital of less than or equal to Rs. 10 lakhs or in respect of companies not having a share capital whose number of members as stated in the articles of association does not exceed twenty, fee on INC-32 (SPICe) shall not be applicable

Click to view the circular

Companies (Appointment and Qualification of Directors) Amendment Rules 2018  

Ministry of Corporate Affairs (MCA) has amended Companies (Appointment and Qualification of Directors) Rules, 2014 to provide new process to apply for Directors Identification Number (DIN) for maximum three directors in a single Form No.INC-32 (SPICE)

Click to view the circular

GOODS AND SERVICES TAX

Due date for filing Form GSTR 3B for the month of December 2017

The Central Board of Excise and Customs (CBEC) vide Notification No. 02 2018 – Central Tax has extended the due date for filing FORM GSTR-3B for the month of December, 2017 till 22nd January 2018 

Click to view the circular

Revision in late fee for late furnishing of Form GSTR 1

The late fee for late filing of Form GSTR1 (supply details) has been revised to Rs. 50 per day for returns with tax liability and Rs 20 per day for NIL returns

Click to view the circular

Website for E way Bill administration notified

The GST council has notified that www.ewaybillgst.gov.in would be the website for administering E-Way bill process

Click to view the circular

Extension of due date for filing the return in FORM GSTR-6

The due date for furnishing the return by an Input Service Distributor in FORM GSTR-6 for the months of July, 2017 to February, 2018 is extend upto to 31st of March, 2018

Click to view the circular

CUSTOMS

Publishing of rate of exchange for conversion of the foreign currency

The Central Board of Excise and Customs (CBEC) vide Notification No. 06 /2018 - Customs (N.T.) notified the rate of exchange for conversion of the foreign currency into Indian currency or vice versa for Export and Import of goods, with effect from 19th of January 2018.  The Notification is appended below for reference:

Click to view the circular

Recent Newsletters