Applicability of the Companies Act, 2013. Which covers the questions like where and whom to applicable?

In simplified language, The Companies Act, 2013 is applicable to India. 

 

There is certain question comes to mind that which type of companies are covered in The Companies Act, 2013.

Those companies already registered in previous companies’ law The Companies Act, 1956. Companies are covered under the company’s acts are:

  1. Insurance Companies
  2. Banking Companies
  3. Companies like generation or supply of electricity

 

There is certain exception given to above companies if they are registered under certain acts respectively Insurance Act, 1938 or Insurance Regulatory Development Authority Act, 1999, Banking Regulation Act, 1949 and Electricity Act, 2003.

Companies Act, 2013 applicability tried to explain in simple language above but more specifically and precisely as mentioned below.

 

Section 1, as per the Companies Act, 2013

 

1.  (1) This Act may be called the Companies Act, 2013.

(2) It extends to the whole of India.

(3) This section shall come into force at once and the remaining provisions of this Act shall come into force on such date as the Central Government may, by notification in the Official Gazette, appoint and different dates may be appointed for different provisions of this Act and any reference in any provision to the commencement of this Act shall be construed as a reference to the coming into force of that provision.

(4) The provisions of this Act shall apply to—

(a) companies incorporated under this Act or under any previous company law;

(b) insurance companies, except in so far as the said provisions are inconsistent with the provisions of the Insurance Act, 1938 (4 of 1938) or the Insurance Regulatory and Development Authority Act, 1999 (41 of 1999);

(c) banking companies, except in so far as the said provisions are inconsistent with the provisions of the Banking Regulation Act, 1949 (10 of 1949);

(d) companies engaged in the generation or supply of electricity, except in so far as the said provisions are inconsistent with the provisions of the Electricity Act, 2003 (36 of 2003);

(e) any other company governed by any special Act for the time being in force, except in so far as the said provisions are inconsistent with the provisions of such special Act; and

(f) such body corporate, incorporated by any Act for the time being in force, as the Central Government may, by notification, specify in this behalf, subject to such exceptions, modifications or adaptation, as may be specified in the notification.


“Passionate for turning data into information, and information into insights”

Data in its original form is of no use but information created through data analysis process will be very much useful for overall business growth.

“The secret of success is to accept the change, to believe on smart work and not hard work.” It also emphasizes more on to get constantly connected with technology and dedicatedly work to achieve goals.

With technology innovations and data driven skills, business analytics makes it possible for companies to treat their business data as corporate asset and actively looks for ways to turn it into competitive advantage.

 

 

 

 

Benefits of Business Analytics

Identifying Business Requirements

    1. Business context & constraints
    2. Internal & external factors
    3. KPIs for each user

Virtual CFO

    1. Ready Business MIS
    2. Management Consultancy on Time

Various Business Analytics

    1. Social Media Analytics
    2. Risk Analytics
    3. Supply Chain Analytics
    4. Customer Analytics
    5. Operation & Planning Analytics
    6. HR Analytics

 

 

Don’t build metrics that aren’t going to be part of your day-to-day operations or don’t have potential to be incorporated as such. 

Building reports that no one looks at is just activity without accomplishment, and is a waste of time.” Creating atmosphere in the organization that everyone to be able to look at their data and make sense out of it.

 

Data Analysis & Business Analysis:

At the first sight data analysis and business analysis are very close terms and often used interchangeably. In smaller organizations, these positions may be the same, and “business analyst” becomes the broad title for a job that involves data or systems analysis. In larger companies, though the roles sometimes blur in the sense that analysts in both categories work with data, but what the analysts do with that data is entirely different. Their skill-set, and sometimes, their job environment, is also different.

 

 

Business Analyst understands the overall business process flows, explores all possible ways to achieve desired targets, identifies solutions for all questions and finally visualize success. Business Analytics makes it possible to run a business with confident decisions and drive it with operational efficiency and creates a new path for business growth.


Information Technology has brought huge revolutionary change in way of doing business.

Social Media influences human sentiments i.e. thoughts, perceptions, behavior, choice etc. It has completely changed marketing campaigns and Target audience.

 

On social media platforms there is flood of data. You can gather maximum data but it will be of no use unless some insight called ”information” with specific objective not derived out of it.

 

Social Media Analytics is playing a crucial role in identifying success path of business.

It helps to understand, to manage, to control, to decide and to further plan business activities on social media platforms. It becomes very important to analyze all business KPIs say product promotion, customer satisfaction, customer feedback.

 

Social Media Analytics is the practice of collecting data from social media platforms and analyzing that data for defined business objectives or business decisions.

 

 

Need for Social Media Analytics

  1. Better engagement with target audience
  2. Improved Customer Relations
  3. More engagements towards business KPIs
  4. More time saves
  5. Strategical moves towards business goals
  6. Consistent watch on market competition

 

Benefits of Social Media Analytics

Comparison of reach on various SM Platforms

MIS Reporting of SM Data

Consultancy for right SM data analytics tool

Consultancy for introducing & implementing SM Data analytics in organization

Analyze followers

Analyze maximum reach

Analyze results of each post

Identify influencers

 

 

In nutshell it can be said that “Social Media Analytics is difference between success and failure for achieving business goals.”

 


Business Dashboard:

Business dashboard is a display tool that provides all important information in an interactive and visual way. It’s  centralized and interactive display gives meaning to monitoring, measuring, analyzing, and extracting relevant business insights in key areas.

 

Business Decisions with Business Dashboards:

  • Enable you to be more Clear & Committed towards business goals
  • Efficiency improved with less Time & Efforts consumption
  • Ensuring you to take Right Decisions at Right Time
  • Be Unstoppable with our Dashboarding Services

 

Benefits of Business Dashboards:

  • Business dashboards can be one stop solution for all business needs
  • Smart business decisions becomes possible with interactive dashboards
  • KPIs can be measured & monitored real time basis

 

Types of Business Dashboards:

  • Operational dashboards: useful for what is happening now.
  • Strategic dashboards: useful for tracking key performance indicators.
  • Analytical dashboards: useful for identifying trends.

 

In nutshell Business Dashboards are one stop “Aatma Nirbhar Solution” for day to day overview of business KPIs at one place to every businessman or professional or entrepreneur.

 

 

Sample of Operating Dashboard Reporting

 

Sample of Financial Reporting Dashboard

 

Sample of HR Reporting Dashboard

Sample of Sales Reporting Dashboard

 


 

Agenda:

Common worries that prevailing today

What is SOP?

Objective of SOP

Business role requirement for any size of Business

Successful business Mantras

Strategical analysis w.r.t COVID 19

Important factors to be considered

Steps for strategical business analysis

Do’s and Don’ts in business analysis

 

 

Key Takeaways:

Do Strategical business Analysis

Set New Visions/Goals

Prepare Plans to achieve Goals

Prepare SOP to create structured business environment

Adopt Technology to work smartly

Constantly monitor

Constantly evaluate/analyse

Take steps for non satisfactory results

Achieve your Goals


G.S.R…(E). – In exercise of the powers conferred by section 164 of the Central Goods and Services Tax Act, 2017 (12 of 2017), the Central Government, on the recommendations of the Council, hereby makes the following rules further to amend the Central Goods and Services Tax Rules, 2017, namely: –

1. (1) These rules may be called the Central Goods and Services Tax (Sixth Amendment) Rules, 2020.
(2) They shall come into force on 27th day of May, 2020.

2. In the Central Goods and Services Tax Rules, 2017 (hereinafter referred to as the said rules), in rule 26 in sub-rule (1), for the second proviso, following provisos shall be substituted, namely: –

“Provided further that a registered person registered under the provisions of the Companies Act, 2013 (18 of 2013) shall, during the period from the 21st day of April, 2020 to the 30th day of September, 2020, also be allowed to furnish the return under section 39 in FORM GSTR-3B verified through electronic verification code (EVC).

Provided also that a registered person registered under the provisions of the Companies Act, 2013 (18 of 2013) shall, during the period from the 27th day of May, 2020 to the 30th day of September, 2020, also be allowed to furnish the details of outward supplies under section 37 in FORM GSTR-1 verified through electronic verification code (EVC).”

 

notfctn-48-central-tax-english-2020

Source & Credit: https://www.cbic.gov.in/


ln continuation to General Circular No. 1112020 dated 24th March 2020 and keeping in view the requests received from various stakeholders seeking extension of time for compliance of the subject requirements on account of covid-19, it has been decided to further extend the time in respect of matters referred to in paras V , Vl of the aforesaid circular, from 30th June 2020 to 30th September 2O20. All other requirements shall remain unchanged.

2. This issues with the approval of the competent authority

 

Credit: MCA

Source: Circular24_20062020


The companies are required to file forms related to creation or modification of charges within the timelines provided in section 77 of the Companies Act, 2O 13 (Act), i.e. a total o[ 120 days of the creation or modification of charge. In case, the company fails to register the charge within the period of thirty days referred to in sub-section ( 1) of section 77 , the charge holder may file the form related to creation or modification of charges under section 78 of the Act, within the overall timelines for filing of such form under section 77.

2. On account of the pandemic caused by the COVID-19, representations have been received in this Ministry, requesting that the timelines related to filing of certain charge related forms may be suitably relaxed so as to provide a window of compliance for the registration of charges. Under the Companies Fresh Start Scheme, 2O2O as laid out in the General Circular No. 12 / 2O2O, dated 3O.O3.2O2O, the benefit of waiver of additional fees was not extended to the charge related documents. Therefore, it has been suggested that some dispensation may be provided for filing of charge related documents as well.

3. In view of the above, the Central Government in exercise of its powers under section 460 read with section 4O3 of the Act and the Companies (Registration Offices and Fees) Rules, 2014 (Fees Rules) has decided to introduce a Scheme, namely “Scheme for relaxation of time for filing forms related to creation or modification of charges under the Companies Act, 2013” for the purpose of condoning the delay in filing certain forms related to creation/ modification of charges.

4. The details of the scheme are as under: –
(i) The scheme shall come into effect from the date of issue of this Circular.

(ii) Applicability:

The scheme shall be applicable in respect of filing of Form No. CHG-l and Form No. CHG-9 (both referred as (‘form’ or ‘forms’) by a company or a charge holder, where the date of creation / modification of charge:
(a) is before O1.03.2020, but the timeline for filing such form had not expired under section 77 of the Act as on O1.03.2020, or
(b) falls on any date between 01.O3.2O2O to 3O.O9.2O2O (both dates inclusive).

(iii) Relaxation of time:

(a) In case a form is filed in respect of a situation covered under sub-para (ii)(a) above, the period beginning from 01.03.2020 and ending on
3O.O9.2O2O shall not be reckoned for the purpose of counting the number of days under section 77 or section 78 of the Act. In case, the form is not filed within such period, the first day after 29.O2.2O2O shall be reckoned as 01.10.2020 for the purpose of counting the number of days within which the form is required to be filed under section 77 or section 78 of the Act.

(b) In case a form is filed in respect of a situation covered under sub-para (ii)(b) above, the period beginning from the date of creation/ modification of charge to 30.09.2020 shall not be reckoned for the purpose of counting of days under section 77 or section 78 of the Act. In case, the form is not filed within such period, the first day after the date of creation / modification of charge shall be reckoned as 01.10.2020 for the purpose of counting the number of days within which the form is required to be filed under section 77 or section 78 of the Act.

(iv) Applicable Fees:

(a) In regard to sub-para (iii)(a) above, if the form is filed on or before 3O.O9.2O2O, the fees payable as on 29.02.2020 under the Fees Rules for the said form shall be charged. If the form is filed thereafter, the applicable fees shall be charged under the Fees Rules after adding the number of days beginning from 01 . 10.2O2O and, ending on the date of filing plus the time period lapsed from the date of the creation of charge till29.O2.2O2O.

(b) In regard to sub-para (iii)(b) above, if the form is filed before 30.09.2020, normal fees shall be payable under the Fees Rules. If the form is filed thereafter, the first day after the date of creation/modification of charge shall be reckoned as 01.10.2020 and the number of days till the date of filing of the form shall be counted accordingly for the purposes of payment of fees under the Fees Rules.

(v) The Scheme shall not apply, in case:

(a) The forms i.e.CHG-1 and CHG-9 had already been filed before the date of issue of this Circular.
(b) The timeline for filing the form has already expired under section 77 or section 78 of the Act prior to 01.03.2O2O.
(c) The timeline for filing the form expires at a future date, despite exclusion of the time provided in sub-para (iii) above.
(d) Filing of Form CHG-4 for satisfaction of charges.

5. This issues with the approval of the Competent Authority

 

Credit: MCA

Source: Circular23_17062020

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