Gaurav Srivastava & Associates

Micro, Small and medium Enterprises or the MSME is one department that is monitored by the central government. It offers medium, small and micro ventures with financial assistance. There are several loan packages, which are active. But the central government has launched a new portal that makes it possible for interested candidates to apply for loan in just 59 minutes. Launch details: Portal Scheme name MSME Business Loans in 59 Minutes Launched by Arun Jaitley, Finance Minister Launch Date September, 2018 Supervised by Micro, Small and Medium Enterprises Department Target beneficiaries Small Enterpreneurs Other government loan scheme Pradhan Mantri Mudra Yojana Key features, interest rates and subsidy 1.       Financial assistance and encouragement – the MSME has come up with this new loan scheme for offering financial assistance and encoura...

 Gone are the days of Physical Securities! ( By CS Mallika Tayal)   Dematerialization of Securities: (Section 29 of the Companies   Act, 2013) In order to enhance transparency in ownership at  C orporates, curb benami transactions and to make the framework free from loopholes Ministry is coming up with many drives these days through different initiatives, may it be striking off of companies under section 248(1) and (2), disqualification of directors under section 164(2)(a) or the latest KYC updates of Directors. What is the Concept of Dematerialization? Dematerialization, or demat, in a very simple language involves conversion of the physical stocks into electronic form. Scope of Dematerialization: Till now, Dematerialization of Shares was a mandatory requirement for a listed entity to have its entire promoter shareholding and non-promoter shareholding in demat form but after...

Every Director who has been allotted DIN on or before 31st March, 2018 and whose DIN is in ‘Approved’ status, would be  mandatory  required to file form DIR-3 KYC on or before 31st August, 2018. Otherwise LATE FEES PENALTY 5000 FROM 1 SEPTEMBER 2018 AND DIN WILL BE DEACTIVATED. 2. Documents Required: DSC of Director duly Registered; Self attested PAN card; Self attested Aadhar card with updated Mobile number with UIDAI; Self attested Electricity Bill, Mobile Bill, Bank statement of Director (latest 2 Months) of his/her present address; Latest Passport size photo; DIN declaration cum KYC.

The e-way Bill System for Inter-State movement of goods across the country is being introduced from 01st April 2018. Few clarifications regarding the new e-way bill system are as follows: Situation: -Consider a situation where a consignor is required to move goods from City X to City Z. He appoints Transporter A for movement of his goods. Transporter A moves the goods from City X to City Y. For completing the movement of goods i.e. from City Y to City Z, Transporter A now hands over the goods to Transporter B. Thereafter, the goods are moved to the destination i.e. from City Y to City Z by Transporter B. How would the e-way bill be generated in such situations? Clarification : -It is clarified that in such a scenario, only one e-way bill would be required. PART A of FORM GST EWB-01 can be filled by the consignor and then the e-way bill will be assigned by the consignor to Transporter A. Transporter A will fill the vehicle details, etc. in PART B of FORM GST EWB...

The form e-CODS is now available with MCA. Click on this link:  http://www.mca.gov.in/MinistryV2/companyformsdownload.html Procedure to be followed for the purposes of the scheme:- (1) In the case of defaulting companies whose names have not been removed from register of companies, (Meaning thereby this scheme is applicable to ACTIVE COMPANIES ONLY)- i) The DINs of the disqualified directors de-activated at present shall be temporarily activated during the validity of the scheme to enable them to file the overdue documents. ii) The defaulting company shall file the overdue documents in the respective prescribed eForms paying the statutory filing fee and additional fee payable as per section 403 of the Act read with Companies (Registration Offices and fee) Rules, 2014 for filing these overdue documents. iii) The defaulting company after filing documents under this scheme, shall seek condonation of delay by filing form e-CODS 2018 attached to this scheme...