As we have discussed in our previous article,  GST authorities can seize properties belonging to the defaulter to recover any due amount. To avoid such seizure, the defaulter often creates a charge on his property or immediately transfers it through sale, mortgage, exchange AFTER the amount has become due. The intention is to defraud the government by not paying taxes. In such cases, the transfer of property will become void. However, the transfer will NOT be void when- It is […]

If the taxpayer cannot pay all the GST dues (tax/interest/penalty) in a lump sum or within the stipulated date, then he can file an application to the Commissioner requesting to pay in installments. The Commissioner can extend the due date for payment or allow the taxpayer to pay in installments. The reasons for accepting/rejection of such application have to be provided in writing. When paying in installments, the taxpayer has to remember that: Installments are payable every […]

Leading Stock Exchanges Bombay Stock Exchange Limited (“BSE”) and National Stock Exchange of India Limited (“NSE”) have put in place a mechanism that will generate automated alerts for Stock Brokers & Trading Members whenever suspicious transactions are detected in their clients‟ accounts. The alerts will be generated in case of unusual changes in the trading pattern of the clients, sudden trading in dormant accounts as also in suspected cases of circular trading, ‘pump- and-dump’, „front […]

New Delhi: Markets regulator Sebi on Tuesday came out with revised formats for filing financial information by entities that have listed their non-convertible securities on stock exchanges. In September, the regulator had notified corporate governance rules for listed entities which have listed their debt securities. It had mandated that such entities should disclose financial results on a quarterly basis, including assets and liabilities, and cash flows. Now, Sebi has come out with formats for reporting […]

Introduction to NBFC Registration Process Are you looking to establish a Non-Banking Financial Company (NBFC)? If so, it’s crucial to understand the registration process and associated costs. This article will provide you with a step-by-step guide to successfully registering your NBFC and highlight the expenses involved. By following these guidelines, you can ensure compliance with regulatory requirements and smoothly navigate through the registration process. Understanding NBFCs An NBFC is a company engaged in various financial […]