Corporate Updates – 06-09-2017


MCA on its website has issued a public circular w.r.t Disqualification of Directors under the provisions of the Section 164(2)(a) of the Companies Act, 2013. Directors disqualified under Section 164(2)(a) of the Companies Act, 2013 and who are associated with struck off companies (S.248) are advised not to make any fresh application for Name Availability (Form INC-1), Incorporation of Companies (Form INC-7/SPICe-INC-32/URC-1/INC-12). If any of such director, attempts to file any Forms, the said Form shall be rejected summarily by the Central Registration Centre(CRC). Further, attention is drawn to the provisions of Section 7(5) and 7(6) which, inter-alia, provides that furnishing of any false or incorrect particulars of any information or suppression of any material information shall attract punishment for fraud under Section 447. Attention is also drawn to the provisions of Section 448 and 449 which provide for punishment for false statement and punishment for false evidence respectively. All stakeholders are requested to decided their next course of action accordingly.


GST Implementation Committee decides to extend date of GSTR 1, GSTR 2 and GSTR 3 for the month of July & August, 2017. Businesses will have more time to file the final GST returns as the government has extended the last date for filing of sales and purchase data as well as payment of taxes for the months of July and August. Now sales return or GSTR-1 for July will have to be filed by September 10 instead of September 5 earlier and purchase returns or GSTR-2 would be filed by September 25 instead of September 10 earlier. GSTR-3, which is the match of GSTR-1 and GSTR-2, will have to be filed by September 30, in place of September 15. Further, with regard to August, the date for filing GSTR-1, GSTR-2 and GSTR-3 has been extended to October 5, October 10 and October 15 from earlier September 20, September 25 and September 30, respectively.

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