MCA:
MCA has notified new versions of eForm’s INC-7 (For Incorporation of the Company) and INC-22 (Notice of situation or change of situation or Registered Office) w.e.f. 1st May, 2015 for the purpose of introducing the facility of application of PAN / TAN / ESI registration along with the incorporation of the Company. Only new version of the eForms will be acceptable. Stakeholders are requested to plan accordingly and ensure that you have downloaded the latest version for filing and uploading the latest version only. Form-wise date of last version change is available at on the website of MCA.
CBEC:
CBEC has notified the CENVAT Credit (Second Amendment) Rules, 2015 which shall come into force from the date of their publication in the Official Gazette. Through this amendment, Rule 3(7)(b) of the CENVAT Credit Rules, 2004 is amended to allow utilisation of CENVAT Credit of Education Cess and Secondary & Higher Education Cess for payment of basic excise duty pertaining to (a) inputs or capital goods received in the factory of manufacture of final product on or after the 1st day of March, 2015; (b) input services received by the manufacturer of final product on or after the 1st day of March, 2015; and (c) Balance 50% Education Cess and Secondary & Higher Education Cess on capital goods received in the factory of manufacture of final product in the financial year 2014-15. The impact of the Notification, might be that CENVAT Credit of Education Cess and Secondary & Higher Education Cess, remaining un-utilised, as on the end of February 2015 cannot be utilised with the payment of Excise Duty for existing period.
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