Tuesday 31 October 2017

Customs duty on polyester fabric raised to 20%

October 31, 2017 GST , 0 Comments

In the GST regime, countervailing duty has been replaced with Integrated GST and Special Additional Duty has been scrapped

The central government has decided to increase the basic customs duty on polyester fabric to 20 per cent, from 10 per cent, with effect from last Friday.

In the Goods and Services Tax regime, countervailing duty has been replaced with Integrated GST and Special Additional Duty (SAD) has been scrapped. Polyester fabric attracted 10 per cent basic customs duty, 12.5 per cent countervailing duty and four per cent SAD in the pre-GST regime.

After scrapping of the SAD and levy of five per cent GST on the fabric, the imported variety attracted 10 per cent basic customs duty and five per cent IGST.This was a significant drop and the domestic manufacturing industry had petitioned in alarm, to stop cheaper import, especially from China. The industry had represented to the government and the GST Council to increase the basic customs duty.

P Nataraj, chairman, The Southern India Mills’ Association said the price of man-made fibre in India was higher by 20-30 per cent, due to high incidence of duties and levies, than abroad. So, there was a threat from import. He added there was also a need to increase the import duty on cotton fabric, at par with polyester fabric, in the interest of the power loom and handloom sectors.


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Sunday 29 October 2017

Composition scheme: Small traders set to get fresh GST relief

October 29, 2017 GST , 0 Comments

Panel wants increase in composition scheme threshold to Rs 1.5 crore; reduction in rate and allowing interstate supply

A high-level panel on the goods and services tax (GST) in its meeting on Sunday recommended major changes in the new indirect tax system that may ease the compliance burden for all assessees and make the composition scheme more attractive.

It also proposed further easing the burden for restaurant owners.

The group of state finance ministers (GoM), led by Assam Finance Minister Himanta Biswa Sarma, recommended that all GST payers be allowed to file quarterly returns, even as those with an annual turnover of above Rs 1.5 crore had to pay the tax every month, sources said.

The GST Council in its previous meeting had decided to allow taxpayers with a turnover of up to Rs 1.5 lakh to file quarterly tax payment and return filing.

Additionally, the panel suggested a reduction in late filing fees to Rs 50 per day, against Rs 200 at present.

In a mega relief for small and medium enterprises, the panel recommended an overhaul of the composition scheme in the form of reducing rates, hiking the eligibility threshold to Rs 1.5 crore, from Rs 1 crore, and allowing interstate supply.

It also proposed reducing rates to a flat one per cent for manufacturers and restaurants, against the current rates of two per cent and five per cent, respectively.

For traders, it recommended a lower rate of 0.5 per cent in the case of a cumulative turnover of exempted and non-exempted goods, and one per cent for non-exempted goods.

The composition scheme, which offers easier compliance, has received a lukewarm response, prompting the GST Council to give it a relook.

“We have decided on a slew of measures to make the composition scheme attractive. It will be taken before the Council for a final decision,” said Sarma, after the meeting in New Delhi.

Even job work under manufacturing will be allowed in the composition scheme.


The other members of the panel are Bihar Deputy Chief Minister Sushil Modi, Jammu & Kashmir Finance Minister Haseeb Drabu, Punjab Finance Minister Manpreet Singh Badal, and Chhattisgarh Minister of Commercial Taxes Amar Agrawal. The recommendations will be placed before the GST Council in its meeting in Guwahati on November 10.

The GoM, constituted by the Council, has suggested allowing interstate sales for composition dealers.

“The GST is one nation, one tax. Hence, dealers should be allowed to make interstate sales,” said Sarma.

It also decided that restaurants outside the composition scheme — both AC and non-AC — must continue to get input tax credit even if their GST rate was reduced from 18 per cent to 12 per cent.

“We feel that restaurants must continue to get input tax credit. The rates in that case will be decided by the Council, considering the revenue implications,” said Sarma.

However, the panel could not work out a consensus over allowing input tax credit for business-to-business transactions under the composition scheme. The Council will decide the issue.

To date, 1.5 million registered entities, amounting to a sixth of 8.9 million GST assessees, have opted for the composition scheme so far. The Council, chaired by Union Finance Minister Arun Jaitley, had raised the eligibility threshold for the composition scheme to Rs 1 crore, from Rs 75 lakh. The new window will be available till March 31. A composition dealer needs to furnish one return, i.e., GSTR-4, on a quarterly basis, and an annual return, Form GSTR-9A, as against three forms every month by a normal taxpayer.

Besides, there is no requirement of invoice-wise details or Harmonised System of Nomenclature codes in their returns. The scheme is not available for manufacturers of tobacco and tobacco substitutes, paan masala, and ice cream.


 The Business Standard, New Delhi, 30th  October, 2017 

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Friday 27 October 2017

Vacancy for the Post of Company Secretary at Sprint - Bangalore

October 27, 2017 JOBS , VACANCY 0 Comments

Dear Readers, there is Vacancy for the Post of Company Secretary at Sprint - Bangalore. Please go through below for further details and requirements.



Address : #1502, 15/F, CONCORDE TOWERS, UB CITY
Location : BANGALORE, YT US
Req # : 227986BR

Job Summary

Company Secretary to carry out mandatory CS functions and to fulfil the requirement under the Companies act of India. To also act as general office administration resource to provide support to in country and international teams in areas of import/export ; handling regulatory queries ; Real Estate ; Regulatory reporting under various applicable laws.

• Carry out mandatory functions mandated under the companies act, including conduct of and documentation of proceeds of the board meetings.
• Mandatory reporting under various applicable laws including the Companies act and per Department of Telecommunications [“DoT”], Govt. of India regulations.
• Co-ordination of responses for any queries received from the regulator and/or tax authorities. Provide co-ordination support for this process as required by the relevant stakeholders.
• Activities in support of import/export process as they relate to equipment being procured by Sprint Telecom India Pvt. Ltd. [“STIPL”] and any other circumstances warranting such support.
• Knows how to do style document certifications, management of documents with corporate seals, keeping track of all the different Import Export Code, Goods and Services Tax, and other numbers of STIPL and completing paperwork associated with every transaction, maintaining records, other than under Return Material Authorisation, etc.
• Support of international legal team with in country insights and help ensure compliance under various applicable laws.

Basic Qualifications

• Company Secretary [CS] qualification – membership of the Association of Company Secretaries.
• Graduate / Post Graduate Qualification in Accounts/commerce/Law.
• 2 years’ experience as CS or in support of CS functions in a similar enterprise.
• Ability to interact with govt., officials and manage the first contact with any officials seeking information relating to business operations of STIPL and having any specific queries in this regard.
• Knowledge of Telecom regulations preferred
• Prior experience in dealing with the DoT preferred

Preferred Qualifications

At Sprint, we're more than just talk. We've changed the way people communicate, how they work and how they stay connected on the go. Sprint is widely recognized for developing, engineering and deploying innovative technologies, including the first wireless 4G service from a national carrier in the United States; offering industry-leading mobile data services, leading prepaid brands including Virgin Mobile USA, Boost Mobile, and Assurance Wireless; instant national and international push-to-talk capabilities; and a global Tier 1 Internet backbone. Behind every decision we make, there is a passion and drive to develop technologies to enhance and simplify our customers' lives.

Are you ready for the big time?
Sprint is a background screening, drug screening, and E-Verify participating employer and considers qualified candidates with criminal histories consistent with applicable law. EOE Minorities/Females/Protected Veterans/Disabled.


Metro Area

INTL - Bangalore India, INTL - India

Sprint is an Equal Opportunity Employer and has been recognized for its commitment to diversity and creating an inclusive workplace where all employees’ backgrounds, talents and contributions are valued. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, nation origin, disability or protected veteran status. Sprint is a background screening, drug-free workplace.

Equal Opportunity Employer/Disability/Protected Veterans

If you are a qualified individual with a disability or a disabled protected veteran and need an accommodation or accessibility assistance to apply for one of our positions, you may submit a request by sending an email to careers@sprint.com or by faxing your request to 913-523-9980.

“Applicants have rights under Federal Employment Laws” Family and Medical Leave Act (FMLA) Poster; Equal Employment Opportunity (EEO) Poster; Supplemental Equal Employment Opportunity (EEO) is the Law Poster; Employee Polygraph Protection Act (EPPA) Poster; Pay Transparency Notice Poster; and the Philadelphia’s Fair Change Hiring Law Poster


Click here to Apply
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Vacancy for the Post of Company Secretary at HUGHES & HUGHES COMMUNICATION LIMITED

October 27, 2017 JOBS , VACANCY 0 Comments


Dear Readers, there is Vacancy for the Post of Company Secretary at HUGHES & HUGHES COMMUNICATION LIMITED.. Please go through below for further details and requirements.

JOB DESCRIPTION
  • Work Performed under Secretarial Department
  • Issue of Shares
  • Maintenance of Minute Books , Registers and Records
  • Preparation of Notices, Directors Reports, Resolutions, Rent Deed
  • Appointment and resignation of Directors in Group Companies
  • Annual Filling of all Group Companies.
  • Various E-form filling to ROC under the Companies Act
  • Creation ,Modification and satisfaction of Charges created under Companies Act
  • Drafting of Due-Diligence Certificate as per the requirement of State Bank of India
  • Registration of charge
  • Work Performed Under Legal Department
  • Assisting the Management in drafting of Writ Petition and preparing Points for reply at the time of need of the company.
  • Handling legal case and correspondence with Advocate
  • Assisting the Management in contractual cases.
  • Renewal of NSIC Registration
  • Drafting and updating CA Certificate for Government Receipts
  • Computation of Tax Deducted at Source on Salary for the Employees of the company
  • Reconciliation of ESIC (Tally Sheet and Salary Sheet) with maintaining its MIS & File
  • Reconciliation of PF (Tally Sheet and Salary Sheet) with maintaining its MIS & File
  • Reconciliation of Salary (Tally Sheet and Salary Sheet) with maintaining its MIS & File
  • Other CA Certificate regarding turnover and assets
  • Correspondence with CA regarding various issues e.g. confirmation of certificate ,signing of docs etc.
  • Work Performed Under Commercial
  • Drafting of various letters time to time under various Contracts under execution
  • Raising of loan from State Bank of India
Job Type: Full-time
Salary: ₹360,000.00 /year

Location:- Delhi

Click Here to Apply
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Vacancy for the Post of Company Secretary at GMR Infrastructure

October 27, 2017 JOBS , VACANCY 0 Comments





Dear Readers, there is Vacancy for the Post of Company Secretary at GMR Infrastructure. Please go through below for further details and requirements.

Job Description

Job Code        HC/JC/5584-2017

Position           Company Secretary - Associate Manager

Location         Delhi

Functional Area        -NA-

Education       C.S-Company Secretary

Experience     4.00 to 6.00 years

Business Unit GCS

Job Description        

1. Company Law Compliances;

2. ROC/ RBI Compliances;

3. LODR Compliances (not mandatory);

4. Conducting of Board/Committee/General Meetings etc;

5. NCLT / RD -MCA exposure;

6. Merger/Amalgamations/Restructuring activities;

8. Family Governance - activities;

9. Experience above 5 years;


10. Candidate preference - who has already worked in team in previous employment(s).

Click here to Apply
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Prevention of Money-laundering (Maintenance of Records) Sixth Amendment Rules, 2017

October 27, 2017 Amendment , 2 Comments


MINISTRY OF FINANCE
(Department of Revenue)
Notification No. 7/2017

New Delhi, the 23rd October, 2017
G.S.R. 1318(E).-In exercise of the powers conferred by sub-section (1) read with clauses (i), (j), (jj), (jjj) and (k) of sub-section (2) of section 73 of the Prevention of Money-laundering Act, 2002 (15 of 2003), the Central Government hereby makes the following further amendments to the Prevention of Money-laundering (Maintenance of Records) Rules, 2005, namely:-

1. (1) These rules may be called the Prevention of Money-laundering (Maintenance of Records) Sixth Amendment Rules, 2017.
   
 (2) They shall come into force on the date of their publication in the Official Gazette.

2. In the Prevention of Money-laundering (Maintenance of Records) Rules, 2005, in rule 2, in sub-rule (1), in clause (d),-

(i) In the second proviso, Clause (f) shall be omitted;

(ii) after second proviso as so amended, the following proviso shall be inserted, namely:-
“Provided also that in case the officially valid document presented by a foreign national does not contain the details of address, in such case the documents issued by the Government departments of foreign jurisdictions and letter issued by the Foreign Embassy or Mission in India shall be accepted as proof of address.”.

[F. No. P. 12011/15/2017-ES Cell-DoR]


BIPLAB KUMAR NASKAR, 
Under Secy.
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Amendment to Sovereign Gold Bond Scheme, Notification No.4 (25)-W&M/2017: RBI

October 27, 2017 GOLD BOND SCHEME , RBI 0 Comments



Government of India
Ministry of Finance
Department of Economic Affairs

New Delhi, dated the October 25, 2017

NOTIFICATION

Amendment to Sovereign Gold Bond Scheme, Notification No.4 (25)-W&M/2017


1. GSR — In exercise of the powers conferred by clause (iii) of section 3 of the Government
Securities Act, 2006 (38 of 2006), the Central Government hereby amends the conditions
specified in clause 13 of the Sovereign Gold Bond Scheme notified vide Notification No. F.
4 (25)-W&M/2017 dated 06th October 2017 [Notification No. GSR 1225(E)]


2. In place of clause 13 of the original notification the following shall be substituted:


“13. Eligibility for Statutory Liquidity Ratio – Bonds acquired by the banks through the process of invoking lien/hypothecation/pledge alone, shall be counted towards Statutory Liquidity Ratio.
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Thursday 26 October 2017

Indian Ports Association Jobs 2017: 01 Company Secretary Vacancy for LLB, CA, ICWA, M.Com Salary 58,000 published on 26th October 2017

Indian Ports Association Jobs 2017: 01 Company Secretary Vacancy for LLB, CA, ICWA, M.Com Salary 58,000 published on 26th October 2017

October 26, 2017 JOBS , VACANCY 0 Comments

Vacancy 1
Company Secretary
Qualification
LLB, CA, ICWA, M.Com
Vacancies
01 Post
Salary
Rs. 32,900 - Rs. 58,000/- Per Month
Experience
5 - 10 years
Job Location
New Delhi
Last Date to Apply
10/12/2017
Other Qualification Details: 
1. Associate Member of the Institute of Company Secretaries of India with at least 10 years of post qualification experience, of working as a Company Secretary in a reputed organization. The Candidate possessing proficiency in Accounting and Tally will have distinct advantage. Desired Skills: Degree in Law shall be  referred.  CA (Inter)/ICWAI(Inter)/ M.Com or Equivalent shall be preferred. Knowledge of Taxation /working of Public Sector Units. Administration Experience: - Experience in Administrative matters desirable.

2. Pay Scale Public Sector Executives PSU Executives holding posts in the pay scale of Rs. 24,100–54,500 (IDA)(E-4). The minimum length of service required in the eligible scale will be three years as on date of advertisement.
Age: As on the Date of Advertisement: Not more than 50 years Age of superannuation is 60years.

How to Apply


1. Last date of receipt of applications is 45 Days from Date of Advertisement. No application shall be entertained under any circumstances after the stipulated date. Incomplete applications are liable to be REJECTED. Ministry of Shipping reserves the right to shortlist candidates for interview.

2. Applications are to be addressed to ; The Managing Director, Indian Ports Association, 1 st Floor, South Tower, NBCC Place, Bhisham Pitamah Marg, Lodi Road, New Delhi 110 003. ALL CORRESPONDENCE ON THE ABOVE SUBJECT SHOULD BE ADDRESSED TO THE MANAGING DIRECTOR, INDIAN PORTS ASSOCIATION ONLY.
Source
Official Notification
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Wednesday 25 October 2017

Vacancy for the Post of CS at Ranchi Smart City Corporation Limited (RSCCL)

October 25, 2017 JOBS , VACANCY 1 Comments


Dear Readers, there is Vacancy for the Post of Company Secretary at Ranchi Smart City Corporation Limited (RSCCL). Please go through below for further details and requirements.

 

 

Job Description


·         Company Secretary is responsible for company secretarial, legal, corporate governance and administrative functions of the company.
·         He is responsible for conducting board and shareholders meetings, statutory compliances, filing forms with various statutory authorities, court cases, due diligence/drafting of all contract documents, preparation and submission of periodical MIS, liaison with various Government deparments/agencies, formulating implementing HR policies of the company.
·         He should be thorough in the new company law, commercial and economic legislations, SEBI guidelines, FEMA provisions, etc. He/She is expected to play a leadership role and provide effective support in achieving sustained growth of the company.

Salary: INR 9,00,000 P.A.
Industry: Government / Defence
Functional Area: Legal , Regulatory , Intellectual Property
Role Category: Other
Role: Company Secretary
Employment Type: Permanent Job, Full Time

Desired Candidate Profile

Graduation in any discipline with at least 60 % marks or equivalent grade point average and Member of Institute of Company Secretaries of India. Preference will be given to those candidates who are also a Member of Chartered Accountants of India or Institute of Cost Accountants of India.
Age of the candidates should not exceed 45 years as on last date fixed for submission of the application. In case of retired candidate, age limit is extended to 62 years as on last date fixed for submission of the application.

Experience Not less than 7 years of post-qualification experience in managerial capacity and equivalent or similar position in a reputed organization.

Last date for receipt of Application :31.10.2017 till 5:00 PM.

Please visit Notice/Recruitment section of the website www.jharkhand.gov.in
(http://www.jharkhand.gov.in/ web/ guest/notices

Duly filled application in prescribed format along with attested copy of the proof of age, qualification and experience should be sent through the registered post/ speed post/ courier to the State Urban Development Agency, Room No. 404, 4th Floor, Project Bhawan, Dhurwa, Ranchi-834004.
Education-
UG: Any Graduate - Any Specialization
PG: CS
Doctorate: Doctorate Not Required
Company Profile:

 Ranchi Smart City Corporation Limited (RSCCL)
Ranchi is one of the 100 smart cities under the Smart City Mission of the Government of India. Accordingly, the Government of Jharkhand envisions to make Ranchi Smart City:
* A Knowledge hub for educational excellence - for both formal and non-formal sectors, by reinforcing its good educational institutes in preparation for welcoming knowledge based industries.
* An efficiently managed traffic and transportation system based city aided by Information Technology (IT) in all aspects to reduce the travel time of commuters and incidents of traffic violations to make Ranchi a safe city for pedestrians and commuters

 Click here to Apply
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Vacancy for Company Secretary & Legal - Fresher's Also Apply

October 25, 2017 JOBS , VACANCY 0 Comments




Dear Readers, there is Vacancy for the Post of Company Secretary & Legal At Antomech Technologies. Please go through below for further details and requirements.

 

 

Job Description


Conduct all statutory meetings stipulated during the year.
Legal matters to be attended as and when required.
Coordinate with shareholders and transfer agents.
Overall management of all activities pertaining to secretarial and legal compliances .
Salary: INR 3,00,000 - 8,00,000 P.A. Best in Industry+health insurance, Retirement plans, Professional development,child and elder care,sick, personal, and parental leave,vacation days salary
Industry: Banking / Financial Services / Broking
Functional Area: Accounts , Finance , Tax , Company Secretary , Audit
Role Category :Senior Management
Role: Company Secretary
Employment Type: Permanent Job, Full Time

Desired Candidate Profile

Ability to develop and maintain positive working relationship with Company Staff. Good communication skills. Good team player. A good Communicator With Self-Motivated. For More Details About This Job Kindly Email Us At - Info@antomechtechnologies.com
Company Profile:
Antomech Technologies
Antomech Technologies India Private Limited Manufacturing of Vibratory Feeders and Conveyors, Material Handling Conveyors, vibrator table, Vibratory Bowl Feeding, Drilling SPM, Automatic Drilling Machine, Pick n Place Units etc.
Recruiter Name: Shagun Ahlawat
Contact Company: Antomech Technologies India Private Limited
Email Address:
Reference Id:Hiring for Fresher's & Experience Holder Both Are Apply


 Click here to apply
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Cabinet approves National Policy on Biofuels - 2018

The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi has approved National Policy on Biofuels – 2018. Salient Fe...