Apr 162016

The Ministry of Corporate Affairs (MCA) portal for down for updation during the period from 25th March 2016 to 27th March 2016. The portal resumed operations from 28th March 2016 onwards. However, there were many issues faced by the stakeholders while filing the forms and they are being sorted out now by the Ministry.

In view of the above, the MCA has decided to waive the additional fees in respect of forms due for filing between 25th March 2016 to 30th April 2106. All forms falling due during these dates need not pay any additional fees. However if these forms are filed after 10th May 2016, this relaxation is not applicable.

The relevant circular is provided below :-

Download (PDF, Unknown)


Source :www.mca.gov.in

Dec 312015

Due to the recent heavy rains and floods in the State of Tamilnadu & UT of Pondicherry and as per various representations received, the Ministry of Corporate Affairs has decided to relax the additional fees payable on e-forms AOC-4,AOC(CFS), AOC-4(XBRL) and e-form MGT-7 upto 30th January 2016, wherever additional fees is applicable.This will be applicable only for the companies having their registered office in the state of Tamilnadu and UT of Pondicherry.

This is as per the General Circular No 16/2015 dtd 30th Dec 2015 issued by the Ministry of Corporate Affairs.

The relevant circular is reproduced below :-

Download (PDF, Unknown)

Source :- www.mca.gov.in


May 202015

The following are few of the important changes will be applicable from 1st June 2015 in respect of Service Tax :-

1) Rate of Service tax has been changed from 12% to 14%

2) Education Cess & Secondary Education Cess removed

3) The definition of ‘chit’ has been omitted from the abatement notification 26/2012

4) Negative List – Process amounting to manufacture or production of goods excludes alcoholic liquor for human consumption withdrawn.

5) Admission to exhibition of cinematograpic film, circus, dance, theartical performance, including drama or ballet, recognised sporting event exempted.

6) Award function, concert, pagent, musical performance, sporting event other than recognised sporting event exempted provided consideration is not more than Rs. 500/-



Mar 252015

The State Budget for the year 2015-16 was presented in the Legislative Assembly today. There were certain proposals proposed in the budget presented. The following are the proposed Changes in TNVAT :-

1) Electricity Tax on generating plants using Biomass (excluding bagassee) will be withdrawn to give a boost to green energy producers.

2) Input Tax Credit reversal imposed at the rate of 3 per cent on the inter-state sale of goods as per proviso to section 19(2) (v) of Tamil Nadu Value Added Tax Act 2006, which was introduced with effect from 11.11.2013 will be withdrawn henceforth to make the manufacturing industries in Tamil Nadu more competitive with their counterparts in the neighbouring States.

3) Clause (c) under Section 19(5) of TNVAT Act, 2006 will henceforth be withdrawn to enable the dealers to claim Input Tax Credit on the inter-State sale of goods without ‘C’ form. This measure will eliminate additional burden on the dealers effecting inter-State sale of goods without ‘C’ form.

4) Fishing accessories like fishing ropes, fishing floats, fishnet twine, fishing lamps and fishing swivels will be exempted from the present levy of VAT.

5) Mosquito nets of all kinds will be exempted from the present levy of VAT at 5%.

6) Works contract relating to sizing of yarn will be exempted from the present levy of VAT.

7) VAT on cardamom will be reduced from the present levy of 5% to 2%.

8) VAT on LED lamps of all kinds will be reduced from the present levy of 14.5% to 5% to encourage the use of energy saving devices.

9) VAT on air compressors, pump sets up to 10 hp and their parts thereof will be reduced from the present levy of 14.5% to 5% to encourage MSME Sector and to benefit the agriculturists in the State.

10) VAT on cellular telephones (mobile phones) will be reduced from the present levy of 14.5% to 5%.

The above changes will be effective from the date when these are published in the Gazette.



Jun 242014

The Ministry of Corporate Affairs has published a draft notification in its website www.mca.gov.in relating to the Exceptions/Modifications/Adaptations with regard to provisions in the Companies Act, 2013 relating to the Private Limited Companies. Suggestions/Comments on the proposed draft notification may be addressed/sent latest by 1st July, 2014 through email at exemptions@mca.gov.in. It has been requested that the name, Telephone number and address of the sender should be indicated at the time of sending suggestions/comments.

Source :- www.mca.gov.in


The Draft Notification is reproduced below :-

Download (PDF, Unknown)

Apr 032014

As per Section 12 of the Companies Act, 2013, (applicable from 1st April 2014) , every company shall print the following information compulsorily on all its business letters, bill heads, letter papers, letterheads, notices, and other official publications :-

1)      Name

2)      Registered office address

3)      Coporate Identity Number

4)      Telephone Number

5)      Fax Number, if any

6)      Email, if any

7)      Website address , if any

Other provisions of Section 12 :-

–          Every Company shall have , from the 15th day of its incorporation and at all times thereafter, a registered office capable of receiving and acknowledging all communications and notices.

–          Every company to paint or affix its name and registered office address outside the office and every place of business

–          Every company to have its name legibly engraved on seal and printed on promissory notes, bills of exchange

–          In case of change of name, the former name is also required to be printed outside the office and on the letterheads, etc.

–          In case of a One Person Company, the words ‘One Person Company’ to appear in brackets below the name wherever printed, affixed or engraved.

–          Notice of any change of Registered Office within the same city to be given to ROC within 15 days (earlier, 30 days)

–          Penalty for any default in complying with the section – Company and every officer in default liable to a penalty of INR 1,000/- per day (maximum INR 100,000).

Feb 122014

The Reserve Bank of India vide its RBI/2013-14/490 A.P. (DIR Series) Circular No. 102 dtd 11th Feb 2014, has amended the form for reporting the Foreign Direct Investment (FDI) .

The new form requires the following additional details of the investments :-

1) Brownfield/Greenfield investments

2) Date of Incorporation of investee company

Henceforth , the new reporting format needs to be followed and the New form FCGPR shall be submitted for reporting of FDI.

The relevant circular along with New Form FC-GPR is reproduced below :-

Download (PDF, Unknown)

Oct 212011

The Last date for filing the Service Tax Half yearly returns for the Half year ended 30/09/2011 (1st April 2011 to 30th Sep 2011) has been extended from 25th October 2011 to 26th December 2011. The relevant notification is reproduced below.

F. No. 137/99/2011 – Service Tax

Government of India

Ministry of Finance

Department of Revenue

Central Board of Excise and Customs


New Delhi dated the   20th October 2011

ORDER NO. 1 /2011 – Service Tax



In exercise of the powers conferred by Rule 7(4) of the Service Tax Rules 1994 read with notification No. 48/2011-Service Tax dated 19th October 2011, Central Board of Excise and Customs hereby extends the date of submission of half yearly return for the period April 2011 to September 2011 from 25th October 2011 to 26th December 2011.


This is being done in view of the fact that the e-filing of service tax returns for all class of service tax assesses has been made mandatory for the first time vide notification no. 43/2011- Service Tax  dated 25.8.11, as such leaving less time for the trade to adjust to the requirement of e-filing.



Director (Service Tax)

CBEC, New Delhi

Copy to:


Chief Commissioners of Central Excise & Customs (All)

Chief Commissioners of Central Excise (All)

Director General of Service Tax

Commissioners of Service Tax (All)

Commissioners of Central Excise and Service Tax

Commissioners of Central; Excise, Customs & Service Tax

B S Sridhar & Co., Contact us @ 91-44-45540180 / 91-90804 33131. 

For Quick Response email :- sridharca@gmail.com

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