Margesh Rai

All companies registered under the Companies Act are required to file ROCs. It entails the yearly submission of financial accounts and necessary paperwork to the Registrar of Companies. Transparency, accountability, and adherence to legal requirements are the goals of ROC filing. The procedure aids in keeping accurate records of the administration, operations, and financial standing […]

The Goods and Service Tax Act was enacted by the Indian Parliament on March 29, 2017, and it became operative on July 1 of that same year. GST is a tax that is applied to goods and services from the point of manufacturing to the customer. This taxing scheme has been implemented in over 160 […]

For current taxpayers, GST registration is the first and most crucial step under the GST system as, without registration, they would not get their GSTIN number, which serves as a taxpayer’s fundamental identifying number. It is essential that the registration form be filled out correctly, but what would happen if someone provided incorrect information or […]

The concept of “Lifting the Corporate Veil” or ‘Veil of Incorporation’ develops as a profound legal doctrine in the convoluted web of corporate jurisprudence. This theory serves as a window into the world beyond the corporate façade, allowing the law to hold individuals accountable for the activities of the corporation. The theory of lifting Veil […]

In India’s goods and services supply, the Goods and Services Tax (GST) stands as the comprehensive indirect tax framework. Despite its implementation for more than five years, the domain of GST litigation is still nascent, and disputes are predicted to escalate as time progresses. Anticipated legal challenges are expected to stem from various issues such […]

Insolvency in a company arises when it cannot settle its debts to creditors. There are two key assessments for corporate insolvency: The Corporate Insolvency Resolution Process (CIRP) serves as a means of recovery for creditors when a corporate entity faces insolvency. In the event of insolvency, initiation of CIRP can be triggered by a financial […]

The Companies Act, 2013, is a pivotal piece of legislation governing the corporate landscape in India. This comprehensive act, which replaced the erstwhile Companies Act, 1956, came into effect on April 1, 2014. The Act introduced a significant overhaul of India’s company law framework, aligning it with modern business practices and international standards. The need […]

The Companies Act of 2013 marked a significant transformation in the realm of corporate legislation, replacing the outdated Companies Act of 1965. This change was driven by the need to align the legal framework with the contemporary business landscape, ensuring its relevance in a dynamic corporate world. Compared to its predecessor, the new Companies Act […]

On October 27, 2023 the Ministry of Corporate Affairs introduced the Companies (Prospectus and Allotment of Securities) Second Amendment Rules, 2023. A new rule, Rule 9B, has been added to the existing Companies (Prospectus and Allotment of Securities) Rules, 2015. According to Rule 9B, private companies (excluding small companies), as of March 31, 2023, must […]

LLPSBORules created obligations on Significant Beneficial Owners and Limited Liability Partnerships. The Companies Act, 2013 (the “Act”), Section 90, required people designated as Significant Beneficial Owners (or “SBOs”) for firms to declare their status. This provision was adopted by the Ministry of Corporate Affairs (MCA) in 2018. Then, by notice dated February 11, 2022, MCA […]

Corporate Social Responsibility (CSR) was initially introduced in 2013, marking a significant development in corporate governance. Over time, multiple series of proposed amendments have enhanced and refined the CSR framework. Notably, substantial amendments came into effect on January 22, 2021. The key impact of these amendments is a shift in the compliance approach – companies […]

The Companies Act of 2013 has replaced its predecessor, the Companies Act of 1956, with the goal of modernising and adapting corporate regulations to the changing business landscape. The new Act is more concise, comprising 29 chapters and 484 sections, in contrast to the previous Act. It also includes seven schedules. This Act was granted […]

GST on Penal Charges: Many indirect taxes imposed by the federal and state governments have been replaced with the single Goods and Services Tax (GST). The ability to impose and collect taxes on goods and services is shared by the federal and state governments under the GST. The GST, or goods and services tax, is […]

Merchant exports under GST come under the system of trading export. Merchant export is a commonly used term in foreign trade. Besides this, it is helpful in generating the inflow of foreign exchange earnings for the nation. The person who is responsible for carrying merchant export is known as merchant exporter. Merchant exporter is an […]