LegalRaasta

Introduction - One Day Company Incorporation The procedure for company incorporation is provided under Section 7 of the Companies Act, 2013. Companies (Incorporation) Rules, 2014 which came into effect from 1st April 2014 was framed by the Central Government for the purpose of company incorporation. There are Rules prescribing various Forms that are to be used for the incorporation of a Company. With the introduction of Companies Incorporation Fourth Amendment Rules 2016, with effect from 02/10/2016, Rule 38 was inserted. It introduced a simplified proforma for incorporating company electronically (SPICe). The Rule prescribes the following: Form No. INC – 32 e Memorandum of Association in Form INC – 33 e Articles of Association in Form No. INC- 34 The Ministry of Corporate Affairs made further amendments to the Incorporation Rules and notified Companies (Incorporation) Fifth Amendment Rules, 2016 which became effective from 01/07/2017. For the purpose of maki...

August 7 th  Tuesday, the Lok Sabha passed 4 new bills in an attempt to GST procedures with a focus on empowering the MSME(Micro, Small and Medium Enterprises) sector. The government is also targeting to plug loopholes in existing laws and lightening ROC compliances requirements described as ‘complex’ by many a business owners. The new return filing system is expected to be put in place by the revenue department by January 2019 and would actively replace the current GSTR-3B and GSTR-1 returns. In addition to these, an attempt has been made for the empowerment of digital payments such as UPI with incentives via cashback offers. The Lok Sabha also facilitated changes in GST return filing forms and also helping in reducing the frequency of return filings for businesses. The bills passed by the Lok Sabha are •   Central GST(Amendment) Bill, 2018 •   Integrated GST (Amendment) Bill, 2018 •   Union Territory GST (Amendment) Bill, 2018 •   GST (Comp...