B. Kaushik & Associates

GST Update: Attention GST Taxpayers whose Aggregate Annual Turnover for the FY 19-20 is more than Rs. 5 crore! File your Annual Return along with Reconciliation statement GSTR-9C before February 28, 2021.

GST Update: Notification no. 03/2021 Central Tax dated 23rd February, 2021 In exercise of the powers conferred by sub-section (6D) of section 25 of the Central Goods and Services Tax Act, 2017, the Central Government hereby notifies that the provisions of sub-section (6B) or sub-section (6C) of section 25 of the said act pertaining to Aadhar Authentication shall not apply to a person who is:-... a. not a citizen of India; or b. a Department or establishment of the Central Government or State Government; or c. a local authority; or d. a statutory body; or e. a Public Sector Undertaking; or f. a person applying for registration under the provisions of sub-section (9) of section 25 of the said Act. Source: https://www.cbic.gov.in/resources//htdocs- cbec/gst/notfctn-03-central-tax-english-2021.pdf

NCLT Update: 10/03/2021-NCLT All NCLT Benches shall start regular Physical hearing w.e.f. 1/03/ 2021. In case any counsel/ representative of party expresses difficulty in physical hearing, he/ she may be permitted for virtual hearing.... However, the benches as mentioned in remarks column shall remain attending the matters through Video Conference. The benches shall sit as per Rule 9 of NCLT Rules, 2016- sitting hours of the Tribunal: https://nclt.gov.in//NCLT-%20Physical%20hearing%20order%20

MCA Update: The Companies (Incorporation) Amendment Rules, 2021 (January 25, 2021) The MCA vide Notification dated January 25, 2021 has issued the Companies (Incorporation) Amendment Rules, 2021 which amended Rule 41 of Companies (Incorporation) Rules, 2014 relating to Application under section 14 of the Companies Act, 2013 for conversion of public company into private company. The notification specified that where an objection has been received or Regional Director on examin...ing the application has specific objection under the provisions of the Act, the same shall be recorded in writing and the Regional Director shall hold a hearing or hearings within a period of 30 days as required and direct the company to file an affidavit to record the consensus reached at the hearing, upon executing which, the Regional Director shall pass an order either approving or rejecting the application along with the reasons within 30 days from the date of hearing. In case where no consensus is received, the Regional Director may approve the conversion, if he is satisfied having regard to all the circumstances of the case, that the conversion would not be against the interests of the company or is not being made with a view to contravene or to avoid complying with the provisions of the Act, with reasons to be recorded in writing. However, the conversion shall not be allowed if any inquiry, inspection or investigation has been initiated against the company or any prosecution is pending against the company under the Companies Act, 2013. For details: http://www.mca.gov.in//CompaniesAmendmentRules_25012021.pdf