Professional Documents
Culture Documents
March, 2018
Companies (Amendment) Act, 2017 A summary of the reporting under the draft Rules is as
under:
Company Law
In exercise of the powers conferred by sub-section (2) of not hold the entire his name is
section 1 of the Companies (Amendment) Act 2017, the beneficial interest in entered in the
MCA has already notified section 1 (Short title and shares with the register of
Companies (Amendment) Act, 2017 which had come into ► within thirty
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KPC Alert – Corporate Law, Income Tax and GST
March, 2018
declarations of of declaration by
The Companies (Registered Valuers and
beneficial ownership the company
received by it
Valuation) Amendment Rules, 20183
in form BEN-5 for the date of receipt 149(10) of the Companies Act, 2013, required passage of a
significant beneficial the company appointed independent director under Section 169(1) of the
BEN-7 Format of notice to be given by company for Centralised Communication Scheme, 2018
seeking information on beneficial interest
from shareholders The Central Board of Direct Taxes (CBDT) via Notification
No 12/2018 dated 22nd February, 2018 notifies
‘Centralised Communication Scheme, 2018’ for centralised
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KPC Alert – Corporate Law, Income Tax and GST
March, 2018
issuance of notices, in pursuance to Section 133C of the taxable. Other supplies of food by a hospital to
Income-tax Act, 1961 (Act). patients (not admitted) or their attendants or visitors
are taxable.
Under the Scheme, the notice shall be served through e-
mail, or by placing a copy in the registered account on the Simplification of the monthly GSTR-3B Return
portal followed by an intimation by SMS (Short Message
Service). The notice shall be issued under digital signature The format of filing the provisional monthly return in form
of the designated authority. GSTR 3B return has been made easier and more user
friendly. For guidance of taxpayers, an advisory to
Recent clarification on GST taxability of taxpayers on the improved GSTR-3B return filing process is
certain services available on the common portal www.gst.gov.in. The new
format has, inter alia, the following features:
GST
provided in the circular are as follows: by the system with a feature to edit it.
► The amount to be paid in cash after taking ITC into
► Hostel accommodation services provided by charitable account gets displayed.
trusts on students do not fall within the ambit of ► One-click challan preparation has been installed to
charitable activities for the purposes of GST and avoid payment of tax under wrong heads.
therefore are taxable under GST. However,
accommodation service in hostels, including such Ombudsman Scheme for Non-Banking
services by trusts, having declared tariff below one Financial Companies, 20185
thousand rupees per day is exempt.
► Fee paid by litigants in the Consumer Disputes As a pilot, the Reserve Bank of India has started the above
Redressal Commissions are not leviable to GST. Any Scheme with the object of enabling resolution of
penalty imposed or amount paid to these Commissions complaints free of cost, relating to certain aspects of
will also not attract GST. services rendered by certain categories of non-banking
► Services provided by senior doctors/consultants/ financial companies registered with the Reserve Bank, in
technicians hired by the hospitals, whether employees the cities Chennai, Kolkata, Mumbai and New Delhi, for
or not, are healthcare services which are exempt. The handling complaints from the respective zones, so as to
entire amount charged by the hospitals from the cover the entire country. The Scheme is currently
patients including the retention money and the applicable to NBFCs, which
fee/payments made to the doctors etc., is towards the
healthcare services provided by the hospitals to the ► are authorised to accept deposits; or
patients and is also exempt. Food supplied to the in- ► have customer interface, with assets size of one billion
patients as advised by the doctor/nutritionists is a part rupees or above, as on the date of the audited balance
of composite supply of healthcare and not separately sheet of the previous financial year