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AJMAN FREE ZONE (AFZ) COMPANY FORMATION – ELIGIBILITY, REQUIREMENTS, SETUP & LICENSE COST

One of the known UAE free zones that conduct industrial activities is Ajman Free Zone Authority (AFZ) that was established in 1988. This has greatly affected the UAE economy as it helped in driving investors to carry out an Ajman Free Zone business setup. The growth of the free zone has been rising as Ajman Free Zone companies are being setup. In addition to that, there is a continuous development on a million-square meter area that will be able to

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RNI Registration – process, certificate, form, fees

In India, the publication of newspaper, periodicals and books are regulated by the Press and Books Registration Act 1867. The act provides for the making of the Office of the Registrar of Newspapers for India (RNI), a statutory body which was created by amending the Press and Registration of Books (PRB) Act 1867. The RNI is entrusted with – Compilation and maintenance of a Register of Newspapers. Issue of Certificate of Registration to the newspapers (RNI Registration) Verifying circulation claims

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Merchandise Exports from India Scheme (MEIS)

MEIS Scheme Merchandise Exports from India Scheme (MEIS) is a newly launched scheme under Foreign Trade Policy of India (FTP 2015-20) is one of the two schemes introduced in Foreign Trade Policy of India 2015-20, as a part of Exports from India Scheme. (The other scheme is SEIS, Service Exports from India Scheme). Under MEIS scheme the government has allocated more than 22,000 crore per annum for exports. The Government of India has brought in the Merchandise Exports Incentive Scheme

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33rd GST Council meeting: Tax rate for under-construction properties reduced to 5%

Coming as a major relief to home buyers and the real estate sector, the GST Council has slashed tax rates for houses in both affordable and non-affordable segments. In its meeting on Sunday, the all-powerful council took note of the recommendations from the ministerial group on real estate to approve tax cuts for the sector. In the 33rd GST Council meeting, Union Finance Minister Arun Jaitley and his state counterparts agreed to bring GST rate on under-construction properties in normal category down

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Banning of Unregulated Deposit Schemes Bill, 2018

The President of India on the 21st February, 2019 has promulgated the Banning of Unregulated Deposit Schemes Ordinance, 2019. The Ordinance has been promulgated to have a central legislation to tackle the menace of illicit deposits taking activities in the country. Presently, non-banking entities are allowed to raise deposits from the public under the provisions of various statutes enacted by the Central Government and State Governments. However, the regulatory frame work for deposit taking activity in the country is not seamless. Despite

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LOST OF WAY BY THE DRIVER- MAY ATTRACT PENALTY UNDER GST

In the recent case of TAMIL NADU ,a two-wheeler dealer from VIRUDHUNAGAR in TAMIL NADU approached the court regarding the action taken by the department. A lorry was carrying 40 two- wheelers from PUNE to TAMIL NADU reached SIVAKASI after the driver lost his way. The GOODS AND SERVICES TAX (GST) department seized the lorry along with its driver and directed to levy a fine of Rs. 18,96,000 on a lorry that deviated just 7 km from the right path

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IMMEDIATE DEADLINES FOR COMPANIES

Every company to which the COMPANIES (ACCEPTANCE OF DEPOSITS) RULES,2014 apply, shall on or before the 30th June 2019, file a return of deposit with the REGISTRAR and furnish the information contained therein as on the 31st day of March of that year duly audited by the auditor of the company. DUE DATE of DPT-3 KYC (one time) on or before the 20th April,2019. Any person intending to become a director in an existing company shall have to make an

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FILLING OF ‘MSME FORM I’ BY SPECIFIED COMPANIES

The Ministry of MSME too is working firmly to encourage MSM Enterprises engaged in the manufacturing and production, and processing or preservation of goods to realize entrepreneurs that starting up doesn’t cost an arm and a leg anymore. With Reference to the above, Every Company, who get supplies of goods or services from Micro and Small Enterprises and whose payments to Micro and Small Enterprises Suppliers exceeds 45 days from the Date of Acceptance or the Date of Deemed Acceptance of the goods or services.  (hereafter referred

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THE MUMBAI BENCH OF THE NATIONAL COMPANY LAW TRIBUNAL (NCLT)

0n February 6, National Company Law Tribunal banned Mukesh Choksi from being appointed as an auditor of any company for succeeding 5 years because he was founded guilty for signing off the books of accounts of the company without inspection and conspire with its promoters in a fraudulent manner. This is the first time that NCLT has passed an order banning an auditor. In the present times, when the National Economy is highly dependent upon the profitability and creditability of

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THE BANNING OF UNREGULATED DEPOSIT SCHEMES BILL,2018

During the Union Budget 2016-17, the FINANCE MINISTER Arun Jaitley had promised a “comprehensive central legislation” to tackle illegal deposit schemes in the country. THE BANNING OF UNREGULATED DEPOSIT SCHEMES BILL,2018, which was introduced in parliament on 18th July ,2018. Comprehensive Legislation deal with the menance of illegal deposit schemes in the country through, Complete prohibition of unregulated deposit taking activity; Deterrent punishment for promoting or operating an unregulated deposit taking scheme; Stringent punishment for fraudulent default in repayment to

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