Do Your Compliance

For more details visit www.doyourcompliance.com

Features of DYC - System Bird Eye view - Store securely - multiple companies - Tracker. For more details visit www.doyourcompliance.com

Features of DYC - Simple Process – Comply – Scheduled Compliances – Avoid Penalties. For more details visit www.doyourcompliance.com

Increase in the interest rate of MVAT from Dec 1, 2015
Currently in case there is a delay in payment of MVAT, the entity is liable to pay interest at the rate of 1.25% per month month irrespective of number of day delay. With effect from December 1, 2015, defaulting entity will be liable to pay interest @1.25% (per month or part of the month) for 1st one month, @ 1.5% for 1 to 3 months and @2% for period beyond 3 months.

Swachh Bharat Cess from November 15, 2015

Ministry of finance has issued 3 notifications relating Swachh Bharat Cess of 0.5%. This cess is to be on taxable value of services. So with effect from November 15, 2015 the effective rate of service tax will be 14.5%. If an entity was using alternate tax rate (i.e. rate other than 14%) then the revised rate will be computed using alternate tax rate * (0.5/14). Even when an entity is paying service tax under reverse charge mechanism, it will have to pay Swachh Bharat Cess of 0.5%.

In case an entity has received an amount as advance against service before November 15, 2015 and services are provided and invoice is raised before November 29, 2015, then the entity need not levy Swachh Bharat Cess of 0.5%.

Wish you very happy Diwali.

MyTrack

Do you know what is corporate KYC ?

How many people agree to this ?

WHO SHOULD SUBSCRIBE

Private Limited Companies required to comply with provisions of the Directors Responsibility Statement

Fast growing companies without an in house Chief Financial Officer (CFO)

Entities having high employee attrition in the accounts and finance departments

Entities heavily dependent on external consultants for statutory compliances

Owners who are not from a finance background

Micro, Small and Medium Enterprises

http://www.doyourcompliance.com/

DoYourCompliance - Monitoring Made Easy