Ravi Tirthani & Associates

Ravi Tirthani & Associates Ravi Tirthani & Associates is a leading firm providing various corporate and secretarial services in India.

Ravi Tirthani & Associates is a Practicing Company Secretaries firm, located in Jaipur (Rajasthan)
The Firm deals in Legal and Secretarial works. We believe in client satisfaction by rendering speedy and quality of services in all kind of Legal and Secretarial issues at best price. The firm is composition of the young and enthusiastic Professionals who have the exposures in corporate laws, Listing

Agreement, FEMA, Management Consultancy etc. We provide our services across India through itself or with our alliances in various cities.

Rajya Sabha passes historic GST Constitution Bill:-Marking an end to the long and tumultuous debate on GST, the Rajya Sa...
03/08/2016

Rajya Sabha passes historic GST Constitution Bill:-
Marking an end to the long and tumultuous debate on GST, the Rajya Sabha today approved the crucial 122nd Constitutional amendment to turn the bill into law. The Lok Sabha had already passed the key bill.
The bill will now go back to the Lower House to incorporate the amendments approved by the Rajya Sabha. The bill will also have to be approved by 50 per cent of all the state assemblies.
Main opposition Congress and most other parties eventually came on board after having created considerable roadblocks, after Modi government's assurance that the tax rates would be kept "as low as possible".
The Constitution (122nd Amendment) Bill, 2014 was approved by the Rajya Sabha with 203 votes in favour and none against. The debate witnessed a rare bonhomie among the government and the opposition.
Six amendments, including the one on scrapping the 1% additional tax, moved by the government were approved. The new regime will now subsume all indirect taxes including central excise duty and state VAT/sales tax.
After years of deliberation, the GST, touted as the biggest tax reform in Indian history since independence, has finally seen the light of day.

GST bill presents in Rajyasabha today here is all about GST. Not covered under the GST purview: 1. Petroleum products 2....
03/08/2016

GST bill presents in Rajyasabha today here is all about GST.
Not covered under the GST purview:
1. Petroleum products
2. Entertainment and amusement tax levied and collected by panchayat /municipality/district council
3. Tax on alcohol/liquor consumption
4. Stamp duty, customs duty
5. Tax on consumption and sale of electricity

GST objectives:-
1. Ensuring availability of input credit across the value chain
2. Minimizing cascading effect of taxation
3. Simplification of tax administration and compliance
4. Harmonization of tax base, laws, and administration procedures across the country
5. Minimizing tax rate slabs to avoid classification issues
6. Prevention of unhealthy competition among states

Implementation challenges:-
1. Lack of adaptation
2. Lack of trained staff
3. Double registration can increase compliance and cost
4. Lack of clear mechanism to control tax evasion
5. Hard to estimate the exact impact of GST

Impact on inflation:

Under the proposed GST, effective tax rate on goods (comprising around 70-75 per cent of the CPI basket) will decline.

A significant proportion (35-40 per cent) of goods (majorly agriculture products) are not subject to tax and we expect a status quo in future.

At present, services-oriented components constitute ~25-30 per cent of the CPI basket with a major share belonging to housing, transport and communication sector. Service tax is not imposed on certain (12 per cent of the CPI basket) services and these services are expected remain exempt under GST regime. A hike in tax rate on services is unlikely to have any material direct impact on CPI.

All About Nidhi Limited:What is a Nidhi Company?A Nidhi Company is best option to legalize (Corporatize) small MONEY LEN...
31/07/2016

All About Nidhi Limited:

What is a Nidhi Company?

A Nidhi Company is best option to legalize (Corporatize) small MONEY LENDING and SAHUKARI business in India. A Nidhi Company is one that belongs to the non-banking Indian finance sector and is recognized under section 406 of the Companies Act, 2013.
As per the provisions of Companies Act, 2013, “Nidhi” means a company which has been incorporated as a Nidhi with the object of cultivating the habit of thrift and savings amongst its members, receiving deposits from, and lending to, its members only, for their mutual benefit, and which complies with rules of chapter xxvi of Companies Rules, 2014.

What are the advantages of Nidhi Company?

1. Nidhi Companies deal with their shareholder-members only; Hence RBI has exempted the notified Nidhis from the core provisions of the RBI Act (Like Registration as NBFC etc.) and other directions applicable to NBFCs.
Hence it is beneficial for the persons who want to do the business of finance in India without following the comprehensive compliance of RBI.
2. A person can start the business of finance in the form of Nidhi with New owned funds of Rs. 10,00,000/-
3. A Nidhi company enjoys better credibility when compared to Mutual Benefit Organizations.

Important Legal Provisions of Nidhi Company:

1. It shall be a Public Limited And shall have minimum paid up share capital of Rs. 5,00,000/- However it is suggested to Incorporate the same with minimum paid up Share Capital of Rs. 10,00,000/-
2. It shall have the last word “Nidhi Limited” as part of its name.
3. Only individual can be a member of a Nidhi Company. A Body Corporate or Trust cannot become the member of Nidhi Limited. Hence it cannot take Deposits from or Lend Money to any Body Corporate.
4. It must have minimum number of 200 Members as on the end of First Financial Year.
5. It must have Net Owned Funds of at least 10 Lacs (Net Owned Funds: Paid Up Capital + Free Reserves – Accumulated Losses – Intangible Assets)

(To know more provisions, please refer pictures of this post)

Address

E-711, NAKUL PATH, LALKOTHI
Jaipur
302015

Telephone

+919509333328

Website

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