The Company Law Committee’s (2022) report suggests a number of amendments to the Companies Act, 2013, in order to recognise new ideas, speed up corporate procedures, strengthen compliance requirements, and eliminate ambiguities in current laws. The Report also contains recommendations for incorporating producer organisations under the Limited Liability Partnership Act, 2008. Table of Content Key Abstract…
Stamp duty is a tax levied by the state government on the sale of real estate or documents. It varies from state to state. The amount of stamp duty to be charged depends on the value of the instrument or property on which it is levied. Earlier, stamp duty was to be charged only on…
A Private Limited Company is the most popular and widely used kind of company structure in India, and it is ideal for small and medium-sized enterprises. The total number of members of Private Limited companies, on the other hand, cannot exceed the maximum restriction of 200. Once such businesses are registered, they gain a distinct…
There are 2 types of shares in any company firstly Equity share or Common Stock and secondly Preference shares or Preferred stock. Shareholders are considered to be the real owners of the Company as they have voting rights in the company while preferred shareholders do not have the right to vote in all decisions under…
The e-invoicing system is now applicable to more businesses through CBIC Notification CGST 01/2022 dated 24 February 2022. Indian businesses with an annual aggregate turnover of more than Rs 20 crore to Rs 50 crore as calculated in any previous financial year from 2017 onwards -18 to 2021-22, must start generating e-invoices from April 1,…
Understanding the taxation of goods and services include knowing that the goods or service is free to register with GST. Knowing this, applicants can find clarity on a few other things. The GST release threshold for businesses depends on their combined annual revenue. Previously, businesses with an annual turnover of Rs.20 lakhs did not need…