A 4-tier GST tax structure of 5, 12, 18 and 28 per cent, with lower rates for essential items and the highest for luxury and de-merits goods that would also attract an additional cess, was decided by the all- powerful GST Council today.

With a view to keeping inflation under check, essential items including food, which presently constitute roughly half of the consumer inflation basket, will be taxed at zero rate.

The lowest rate of 5 per cent would be for common use items while there would be two standard rates of 12 and 18 per cent under the Goods and Services Tax (GST) regime targetted to be rolled out from April 1, 2017.

http://mca.gov.in/…/CompaniesIncorporationFourthAmendme…

MCA.GOV.IN

mca.gov.in

President of India, Shri Pranab Mukherjee have given assent to the GST Constitution Amendment Bill. Now, GST Council needs to be formed to recommend GST rates, exemptions, threshold, taxes , cesses & surcharges to be subsumed in GST etc.

http://mca.gov.in/MinistryV2/annualefilingguidelines.html

MCA.GOV.IN

Ministry Of Corporate Affairs – Annual e-Filing Guidelines

Ministry of Finance has issued FAQs, on Goods And Service Tax. Mentioning the framework of the much awaited Tax Reform by uniforming the major Indirect taxes.

http://pib.nic.in/newsite/PrintRelease.aspx?relid=148240

PIB.NIC.IN

Frequently Asked Questions (FAQs) on Goods and Services Tax (GST)

GST is a single tax on the supply of goods and services, righ

Relaxation of additional fees AOC 4, Aoc 4 XBRL, AOC 4 CFS and MGT 7 to file these forms on or before 29.10.2016 where due date for holding of the AGM is on or after 01.04.2016 without payment of additional fees. www.bkacs.com

http://www.mca.gov.in/…/pdf/GeneralCircular08_30072016.pdf

WWW.MCA.GOV.IN

www.mca.gov.in

MCA has come with Companies Accounts Amendment Rules by notification dated 27.07.2016, effecting Consolidation of Accounts and AOC 1.

And designation of Special Court for the purpose of speedy trial of offences punishable under Companies Act, 2013.

http://www.mca.gov.in/…/CompaniesAccountsAmendmentRules…

http://www.mca.gov.in/…/designationofSpecialCourt…

www.bkacs.com

WWW.MCA.GOV.IN

www.mca.gov.in