Neeraj Bhagat & Co. – Chartered Accountants

November 5, 2019 / Business

India jumps 14 places to 63rd position on the World Bank”s ease of doing business ranking

India has jumped 14 places to the 63rd position among 190 nations on the World Bank’s ease of doing business ranking released on Thursday. Last year, India was on 77th position. The World Bank has commended the reform efforts undertaken by the country “given the size of India’s economy” in its ”Doing Business” 2020 report,India has improved its rank on 6 out of 10 parameters relating to starting and doing business in a country.The parameters for determining ranking on ease …

October 21, 2019 / Goods and Services Tax (GST)

Pact to Link FASTag with GST E-way Bill System

The Indian Highways Management Company Ltd (IHMCL) and Goods and Services Tax Network (GSTN) will sign a memorandum of understanding on Monday for integration of FASTag with GST e-way bill system. The memorandum of understanding (MoU) will be inked at the ‘One Nation, One FASTag’ conference, which will be inaugurated by Road Transport and Highway Minister Nitin Gadkari. FASTag is a simple to use, reloadable tag which enables automatic deduction of toll charges and lets vehicle pass through toll plaza …

October 16, 2019 / News

Allinial Global receives “Rising Star Association of the Year” award 2019

It’s always a feeling of pride when a company achieves something. It’s giving us immense pleasure to announce one more achievement as ‘Allinial Global’ receives the prestigious International Accounting Bulletin’s “Rising Star Association of the Year” award 2019. It has been recognized for demonstrated exceptional growth, entrepreneurial flair and innovation in elevating its position in the highly competitive global associations market.

We are grateful to have such association and platform that shares its achievements in providing one more step …

October 14, 2019 / Business

Related Party Transaction | Section 188 | Companies Act, 2013

Analysis on Related Party Transaction Under Section 188 of the Companies Act, 2013 – Section 188 of Companies Act, 2013 is been made effective from 01.04.2014 and since than the same been amended nine times till date. In this article Analyses Provision of Section 188-

Meaning of Related Party

Transactions Covered

Some Important Definitions:

1. Goods means every kind of movable property other than actionable claim and money and includes stock and shares, growing crops, grass attached to or forming …

October 14, 2019 / Business

Going Global Live, London Excel – 27th & 28th of November

On the 27th & 28th of November, Europe’s leading event for expanding business overseas will be returning to the London ExCeL.

Going Global Live, sponsored by American Express, is the leading exhibition dedicated to providing businesses with absolutely everything they need to expand internationally and trade overseas. From globally recognised brands through to world-class seminars hosted by leading professionals, this event will be the one stop shop for all brands moving into the global arena.

2019’s …

October 9, 2019 / Business

Statutory Registers to be Maintained by a Company

All about Statutory Registers to be maintained by the Company Under Companies Act, 2013 In India

What are the Statutory Registers?
♦According to the Companies Act, Statutory Registers are the registers that contain the specific record of the company’s shareholders, directors, deposits, loan & guaranty, etc. and are placed at the Registered Office of the Company.

Why Statutory Registers are required to be maintained?
♦For good corporate governance and to avoid the penalties, it is always advised to maintain the …

October 5, 2019 / Goods and Services Tax (GST)

GST Network starts online refund processing

GST Network, the IT backbone of the indirect tax system, on Thursday unveiled an online refund process as decided by the GST Council.
With the deployment of online refund functionality, taxpayers can now file refund application (in RFD 01 form) easily and tax officers can process the same online, GST Network said in a statement.
All communications between taxpayers and tax officers will also be online. The online refund process has become effective from September 25, 2019, on the GST …

September 27, 2019 / Business

Checklist for Scheme of Compromise, Arrangements and Amalgamations

Section 230 and 232 of Companies Act 2103 read with rules Companies (Compromise, Arrangements and Amalgamation) Rules, 2016

Step: 1 AUTHORISATION IN MOA AOA

Step: 2 DRAFT SCHEME OF MERGER

Step: 3 CALL BOARD MEETING ⇓

Call Board Meeting and approve following resolutions:

a. Approve the draft scheme of Merger.

b. Authorization to filing of application to NCLT

c. Authorization to file a Petition for confirmation of scheme by the NCLT.

d. Appointment of an Independent Registered Valuer for valuing …

September 26, 2019 / Business

FDI in Defence Sector in India

Defence Industry in India is subject to Industrial License under the Industries (Development & Regulation) Act, 1951 and manufacture of small arms and ammunition under the Arms Act, 1959. The detailed guidelines in this regard may be seen under the Press Note available at www.dipp.nic.in followed by link Acts & Rules.

Previously, India had relaxed foreign direct investment norms in defence sector, doing away with the clause that allowed only “state of the art” technology to be considered for stakes …