Compliance with Secretarial Compliance with secretarial standards refers to adhering to the prescribed guidelines and requirements set forth by relevant regulatory bodies or professional organizations that govern the practice of company secretaries. These standards aim to ensure transparency, accountability, and good governance in the secretarial functions and practices of a company. Here are… Read More »
PAN number GSTIN (Goods and Services Tax Identification Number) is a unique 15-digit alphanumeric code issue to every registered taxpayer under the GST regime. The first two digits of the GSTIN represent the state code, followed by the next 10 digits representing the PAN number of the taxpayer, then a 2-digit entity code for the… Read More »
As a key functionary in an organization, a company secretary is entrusted with various compliance-related duties. Here are some aspects of company secretary compliance: 1.Legal and Regulatory Compliance The is responsible for ensuring the company’s compliance with applicable laws, regulations, and statutory requirements. This includes monitoring changes in legislation, maintaining an up-to-date understanding of… Read More »
Secretarial Audit Report Secretarial Audit Report, The Annual Secretarial Audit Report, also known as the Secretarial Audit Report, is a document prepared by a practicing company secretary in India. It provides an assessment of a company’s compliance with various legal and regulatory requirements as prescribed under the Companies Act, 2013, and other applicable laws.… Read More »
How many company secretary can a company have A company can have multiple company secretaries as per its requirements and the size of the organization. The appointment of company secretaries is based on the company’s needs and compliance obligations. Here are some key points regarding the number of company secretaries a company can have: 1.Minimum… Read More »
Accountability Compliance Accountability Compliance refers to the function, role, or department within an organization that is responsible for ensuring that the organization operates in adherence to applicable laws, regulations, policies, and standards. Compliance professionals or Compliance officers are individuals who work within the compliance function and are responsible for overseeing and managing Compliance efforts. The… Read More »
Income tax demand a contingent liability Yes, the interest on income tax demand is a contingent liability because it is a potential obligation that arises from an event that has already occurred, which is the assessment of additional income tax. However, the final amount of interest payable may depend on various factors, such as the… Read More »
Input Tax Credit However, it’s important to understand that not all goods and services are subject to RCM. GST is only applicable under the Reverse Charge Mechanism (RCM) in specific situations as specified by the government. For instance, RCM applies to services provided by a goods transport agency, legal services, services provided by an… Read More »
Consequences of not renewing DSC Consequences of not renewing DSC, A Digital Signature Certificate (DSC) is a secure digital signature use for signing electronic documents and transactions. In India, DSC is utilize for various purposes, including filing income tax returns, GST returns, company registration, and other legal documents. Once a DSC reaches its expiration… Read More »
E-invoicing The e-invoicing system in India is an electronic invoicing mechanism designed to generate invoices for transactions conducted by businesses under the Goods and Services Tax (GST) regime. To Visit https://www.gst.gov.in/ The primary objective of the e-invoicing system is to reduce errors, minimize tax evasion, and simplify the tax filing process. The process involves generating… Read More »
