JANUARY-FEBRUARY, 2019 ISSUE From the Desk of the Chairman ... · Roshan Lal Nad Secretary...

CONTENTS

From the Desk of the Chairman, EIRC

“Best reward for a task executed is to get additional opportunity to perform more” was preached by mother to me and now complemented by you all .

Dear Members ,Students and stakeholders of ICSI-EIRCI thank you all for the opportunity granted by electing me to the Eastern India Regional Council of The Institute of Company Secre-taries of India (EIRC of ICSI) for the Term 2019-2022. I would also like to thank my colleagues in the Regional Council for reposing faith in me and elevating me to this august office of the Chairman of EIRC. It will be my earnest endeavour to do justice to this faith. I am confident that in the challenging time ahead, when expec-tations of the stakeholders are sky high, the Regional Council will rise to the occasion and continue to serve the profession with full enthusiasm and zeal. I will humbly endeavour, with support of the Regional Council and my revered predecessors, to discharge my responsibilities to nurture the profession and develop the Institute.

Fortunately, we all are witnessing a most dynamic phase of macro and micro economies and if handled proficiently ,the fruits will be blissful for the breeds to come. Ofcourse, the growth and dy-namism comes with the extra responsibilities. New amendments, higher corporate governance, artificial intelligence – they all need hand holding and guidance from the masters of respective knowl-edge banks.

I ,at EIRC, commit for members capacity building and students knowledge empowerment by organizing effective training pro-grams by pooling in the master faculties and doing knowledge dissemination at appropriate levels of technicalities and /or practi-cal orientation.I would request all the members to come and par-ticipate in this process of transformation as guide,implementor, participant or in whatever form it suits you .I firmly believe in the proverb ‘NO INVOLVEMENT NO COMMIT-MENT’ and need your support in the form of involvement in evolution and successful implementation of activities of EIRC.I

propose my collegues for deep rooted corporate involvement and therby reap the outcomes.

I propose to assist in creating effective communication channels between members,regulators viz. SEBI,ROC,RBI,NCLT,IRDA and others.One of the biggest dream that I cherish is that EIRC put in place the Centre Of Excellence, a new EIRC-ICSI building at huge piece of land already acquired by my predecessors.

To facilitate members to attend the programmes without going through the tedious process of registering separately for each programme, we have set up an Annual Corporate Membership Scheme (AMS) for 2019-2020. I appeal to all the members to avail of this unique opportunity. The details of the scheme are covered elsewhere in this Newsletter. We sincerely hope that our efforts in organizing quality programmes will receive full support from all of you.

I request all the members to come forward in large numbers to strengthen the corpus of Company Secretaries Benevolent Fund (CSBF).I am sure that each member from EIRC would take the membership of CSBF and would also encourage others to become the members of CSBF.The higher the CSBF corpus, greater would be the extendable quantum of benefit to the members families in case of untoward incidences.

During January and February 2019, your EIRC has organised the following programmes:-

• 30th Regional Conference of Student Company Secretaries held on 6th January, 2019 At Rotary Sadan, Kolkata

• 29th Regional Conference of Company Secretaries held on 12th January, 2019 at ITC Sonar, Kolkata

• Half-Day Workshop on “SEBI PIT (Amendment) Regulations, 2018 held on 19th January, 2019 at ICSI-EIRC House

• 70th Republic Day Celebration held on 26th January, 2019 at ICSI-EIRC House

• Workshop on Interim Budget, 2019 held on 2nd February, 2019 at ICSI-EIRC House

• Saraswati Puja Celebration held on 10th February, 2019 at ICSI-EIRC House

• Prayer meeting on 20th February, 2019 at ICSI-EIRC house in the memory of for the brave soldiers who were killed in Pulwama Terrorist Attack

• 131st Management Skills Orientation Programme (MSOP) held from 2nd January, 2019 to 18th January, 2019 at ICSI-EIRC House

• 15-Days Academic Development Program held from 2nd January, 2019 to 18th January, 2019 at ICSI-EIRC House

Lets do the hard work in silence and let the success make the noise. Warm Greetings to all !!

We salute our brave soldiers who gave supreme sacrifice and pay our heartfelt condolences to the family members of the security forces and condemn the dastardly coward act of terrorists in Pulwama.

You are at . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

EIRC Chapters - 2019 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

AMS - 2019 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

EIRC - 2019 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Legal Updates . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Company Secretaries Benevolent Fund . . . . . . . . . . . . . .Chapters’ News . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Announcement . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

News & Events . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

News & Events . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

News & Events . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

News & Events . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Notice, Announcement. . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Know Your Member (KYM) . . . . . . . . . . . . . . . . . . . . . . . . . .

Advertisement . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Advertisement . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

GST Implication on Second Hand Goods – Margin Scheme . .Appointment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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* Each page is linked with INDEX. i.e., if you click on page number in INDEX, than it will take you to that page & vice-versa.

Kolkata, The 21st February, 2019

JANUARY-FEBRUARY, 2019 ISSUE

With warm regards,

CS RAJESH CHURAChairman, EIRC of ICSIE-Mail: [email protected]

Ability is poor man’s wealth - M. Wren

EIRC - 201902

EIRC - 2019

Short absence quickens love; long absence kills it - Mirabeau

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Reason should direct and appetite obey - Cicero

EIRC - 201904

The last date for payment of annual membership fee was 31-08-2018 and for renewal of certificate of practice was 30-09-2018. The members who have not paid their annual membership fee and/or certificate of practice fee by the last date are required to restore their membership and/or certificate of practice by paying the requisite entrance and restoration fee along with the applicable annual membership fee and annual certificate of practice fee with GST @ 18% on the total fee payable. Members are required to submit Form –BB for restoration of membership and Form –D for restoration of certificate of practice duly filled and signed. For more clarification, may please write at [email protected] (for restoration of membership) and vidhya.ganesh@ icsi.edu (for restoration of certificate of practice).

Members who are not receiving Chartered Secretary Journal regularly, are requested to communicate with ICSI-EIRO [email protected] for speedy action on the matter. While communicating, members are requested to mention his/her ACS/FCS No.; communication address, Mobile Nos. & E-Mail IDs.

Members are also requested to update their contact details viz. communication address, Mobile No(s); E-Mail IDs through Member’s Login ID provided by the Institute to the Members. Institute is taking utmost care in ensuring timely delivery of Chartered Secretary Journal to all the members.

Soft copy of Chartered Secretary Journal is also available atLink: https://www.icsi.edu/journals-bulletins/chartered-secretary/

NOTICE

ANNOUNCEMENT

Beautiful is truth, truth is beauty - Keats

EIRC CHAPTERS 201905

LIST OF MANAGING COMMITTEE MEMBERS OF THE CHAPTERS UNDER EIRC (2019)

Name of Chapter Name of the Managing Committee Member Designation Mobile No Email id

BHUBANESWAR CHAPTER

Soumya Sujit Mishra Chairman 9937567592 [email protected]

Rajendra Kumar Kar Vice Chairman 9437900210 [email protected]

Jyotirmoy Mishra Secretary 9437272604 [email protected]

Prabhat Kumar Nayak Treasurer 9437278182 [email protected]

Ajay Kumar Majhi Member 9008721674 [email protected]

Bimal Prasad Pattnaik Member 9861313227 [email protected]

Sanjit Kumar Das Member 9439445099 [email protected]

Priyadarshi Nayak Ex-officio Member 9338843388 [email protected]


DHANBAD CHAPTER

Pankaj Kr Singh Chairman 9470597118 [email protected]; [email protected]

Neeta Malhotra Vice Chairperson 9955153058 [email protected]

Roshan Lal Nad Secretary 9470595081 [email protected]

Gourav Kumar Agarwal Treasurer 9007352735 [email protected]

Kanan Bansal Member 9470595860 [email protected]

Rahul Roy Member 9472762284 [email protected]

Rahul Jindal Member 7717788523 [email protected]


HOOGHLY CHAPTER

Rajan Kumar Gupta Chairman 9007628891 [email protected]

Amit Khowala Vice Chairman 9804842039 [email protected]

Shashank Joshi Secretary 9883297907 [email protected]

Sunil Kumar Maheshwari Treasurer 9339079889 [email protected]

Anuj Saraswat Member 9748222226 [email protected]

Arisankala Manish Kumar Member 8013792315 [email protected]

Ritika Gupta Member 8820216632 [email protected]


JAMSHEDPUR CHAPTER

Suvinder Singh Dhanjal Chairman 7260003370 [email protected]

Ramesh Kumar Singh Vice Chairman 9471576030 / 7209592594 [email protected]

Shikha Naredi Secretary 9931737989 [email protected]

Santosh Kumar Treasurer 7903152615 / 9308057596 [email protected]

Surojit Bhumij Member 9031505351 / 7004752762 [email protected]

Shalini Kumari Agarwal Member 9955130072 [email protected]

Varun Kumar Sinha Member 9279978846 / 7631122446 [email protected]

Rajesh Mittal Ex-officio Member 9334000605 / 7004681662 [email protected]


NE (GUWAHATI) CHAPTER

Vikash Kumar Jain Chairman 9435043223 [email protected]

Bishal Harlalka Vice Chairman 7002329715 [email protected]

Kushal Bharat Bagadia Secretary 9954498566 / 7035988623 [email protected];

Nikhil Jain Gangwal Treasurer 8876413862 [email protected]

Vivek Sharma Member 9435190284 [email protected]

Anshuman Jain Member 9707752592 [email protected]

Pradeep Sharma Member 9864406624 [email protected]

Biman Debnath Ex-officio Member 8472815679 [email protected]


PATNA CHAPTER

Sudhir Kumar Chairman 8084241511 [email protected]

Puja Kasera Vice Chairman 9801461670 [email protected]

Rachna Secretary 9938471596 [email protected]

Prince Kunal Treasurer 8540099000 [email protected]

Suryakant Kumar Member 9304534667 [email protected]

Md. Ishtiyaque Ansari Member 9939129016 [email protected]

Neha Shah Member 8521182444 [email protected]


RANCHI CHAPTER

Rohit Prakash Prit Chairman 9504474680 [email protected]

Neha Vice Chairman 8051032870 [email protected]

Aditya Mohan Khandelwal Secretary 8877059925 [email protected]

Aman Poddar Treasurer 8877077008 [email protected]

Nidhi Jhunjhunwala Member 9534883100 [email protected]

Sapna Khandelwal Member 8092302529 [email protected]

Arun Kumar Sinha Member 9835577852 [email protected]


SILIGURI CHAPTER

Amit Kumar Agarwal Chairman 9932878057 [email protected]

Somnath Ganguly Vice Chairman 9832091670 [email protected]

Nitin Gupta Secretary 9832522154 [email protected]

Manasi Joshi Treasurer 7679241137 [email protected]

Anuj Maheshwari Member 9932592751 [email protected]

Neerupama Kabra Member 9851093666 [email protected]

A User Manual for filling the Know Your Member (KYM) proforma online is available at the below link: http://www.icsi.in/student/Portals/0/Manual/KYM/Usermanual.pdf

KNOW YOUR MEMBER (KYM)

EIRC CHAPTERS 201906

The better part of valour is discretion - Shakespeare

Art is long and time is fleeting - Longfellow

ANNOUNCEMENT07

ANNOUNCEMENT

Art lines in concealing art - Ovid

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AMS - 2019

ANNUAL MEMBERSHIP SCHEME (AMS) of EIRC of ICSI for the Year 2019

(From 1st February, 2019 to 31st January, 2020)

Our Dear Esteemed Colleagues,

Greetings of the New Year!!!

Eastern India Regional Council of The Institute of Company Secretaries of India brings to you the Annual Membership Scheme (AMS) for 2019 (from 1st February, 2019 to 31st January, 2020). We will endeavour to organise programs of relevance with renowned speakers from across the country (from corporate and practice both) at appropriate venue for effective knowledge dissemination & overall professional development

The commitment for minimum number of programmes is mentioned herein, however, it is expected to organize more number of programmes, which the members/ professionals / students of ICSI enrolling in this scheme will be entitled to attend. Apart from the regular aforesaid academic sessions, Publications/ Books may be provided to the members registered under this scheme.

Programmes on offer (minimum)

Four (4) Full-Day Seminars Regional Conference of Practicing Company Secretaries Regional Conference of Company Secretaries Six (6) Half-Day Workshops Study Circle Meetings Interactive Meetings /Foundation Day Programme

PCH / PDP As per the ICSI Guidelines Mode of Payment

Payment may be made in Cash or by Cheque / DD drawn in favour of “ The Institute of Company Secretaries of India – EIRC ” Online Payment can be made through the following link: https://paytm.com/education?op=The%20Institute%20of%20Company%20Secretaries%20of%20India&type=registration

Fee Structure (inclusive of GST @18%) Individual Members

Rs. 7,000/- Members who got their membership on or after 01.04.2016 Rs. 9,200/- Members who got their membership up to 31.03.2016

Corporate Members Category Fee Remarks (Nomination Facility)

SILVER `13,000/- Any ONE delegate from the Company/ organisation can attend

GOLD `20,500/- Any TWO delegates from the Company/ organisation can attend simultaneously

PLATINUM `36,000/- Any FOUR delegates from the Company/ organisation can attend simultaneously (Nomination facility is only for the Members of Corporate Schemes not for the Individual Members.)

Please register for the scheme at an early date to avail the maximum benefit. We request corporates, firms and our members to extend their kind support and patronage to make this Scheme successful. It will go a long way in helping your Regional Council to organize much better, bigger and relevant programs.

For further information, please write to Shri Alok Kumar, Executive (Admin), EIRO at [email protected].

With best regards,

CS Rajesh Chura Chairman

CS Priyadarshi Nayak Vice Chairman

CS Anil Kumar Dubey Secretary

CS Rajesh Mittal Treasurer

Members: CS Biman Deb Nath I CS Sudhir Kumar Banthiya Ex-Officio Members: CS Deepak Kumar Khaitan I CS Siddhartha Murarka

All art is but imitation of nature - Seneca

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AMS - 2019

REGISTRATION FORM FOR ANNUAL MEMBERSHIP SCHEME [EFFECTIVE FROM 1ST FEBRUARY, 2019 TO 31ST JANUARY, 2020]

The Regional Director Eastern India Regional Office The Institute of Company Secretaries of India 3A, Ahiripukur 1st Lane Kolkata 700 019 Dear Sir, Please register the following person(s) as delegate(s) for attending the programmes under Annual Membership Scheme (AMS) being organized by The Institute of Company Secretaries of India, Eastern India Regional Council (ICSI-EIRC) for the period of one year from 1st February, 2019 to 31st January, 2020. The particulars of the nominated person (s) are as under: I. FOR INDIVIDUAL: Name(in Block Letters) : ---------------------------------------------------------------------------------------------------- Designation : ----------------------------------------------------------------------------------------------------- Name & Address of the organization :------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------- FCS/ACS No.:-----------------CP No.-------------Mobile No.--------------------E-mail ID : --------------------------- II. FOR CORPORATE (Please select the appropriate box) SILVER GOLD PLATINUM Name of the Organisation : ---------------------------------------------------------------------------------------------------

Address : --------------------------------------------------------------------------------------------------- ---------------------------------------------------------------- ---------------------------------- Details of the delegates registered:

S.N Name FCS/ ACS No. Contact No. (Mobile) Email id

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Payment: a) A cheque / DD no. (*)--------------------------dated------------------ for Rs.------------------- drawn on ---------------------------------------------------is enclosed. b) Payment made by cash for Rs………….vide Receipt No……………..dated---------------

Yours faithfully, Place:…………………………………. Date:……………………………….. [ Sponsoring Authority / Delegate ]

(*) The cheque /demand draft shall be drawn in favour of "The Institute of Company Secretaries of India - EIRC" payable at “Kolkata”.

30th REGIONAL CONFERENCE OF STUDENT COMPANY SECRETARIES ON 6th JANUARY 2019 AT ROTARY SADAN, KOLKATA

29th REGIONAL CONFERENCE OF COMPANY SECRETARIES ON 12th JANUARY 2019 AT ITC SONAR, KOLKATA

There is properly no history, only biography - Emerson

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NEWS & EVENTS

I pray Thee, O God that I may be beautiful within - Socrates

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Brevity is the soul of wit - Shakespeare

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131ST MANAGEMENT SKILLS ORIENTATION PROGRAMME (MSOP) AT ICSI-EIRC HOUSE

REPUBLIC DAY CELEBRATION ON 26th JANUARY 2019 AT ICSI-EIRC HOUSE

NEWS & EVENTS

Distance lends enchantment to the view - Campbell

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Braithwaite & Co. Ltd., A Govt. of India Undertaking under the Ministry of Railways invites applications from Indian Nationals for filling up the following post:-

SL No. Name of the Post No. ofposts

(Reserved for)

Qualifications Post qualification experience (years)/ Nature of Experience a on 01.02.2019

MaximumAge (years) As on 01.02.2019

I. Company Secretary ( E4 Grade)

One (UR) (Essential: Graduate in any discipline.Qualified Company Secretary from ICSL)

Degree in Law will be added advantage.

E4 Grade-Twelve years

Should be able to liaison with regulators, lawyers etc. Sufficient experience111 Secretarial as well as Legal functions. Should have experience of Handling Board Meeting, AGM etc.Post qualification Experience will be counted from the date of obtaining membership from ICSI.

45 years

ABBREVIATIONS: UR=Unreserved;Scale of Pay(2007 Pay Scale-E4 Grade):Rs29100-54500/-; Minimum Monthly gross Salary Rs.78000 approx.

Emoluments: In addition of Basic pay, Dearness Allowance, HRA as admissible, other benefits include Provident fund, Gratuity, LTC, Company's accommodation in Iieu of HRA. medical and other facilities according to Company Rules.

General: Persons employed in Govt./ Semi Govt. I Public Sector Undertaking should forward their application through proper channel or produce "No Objection Certificate" from their employer before the interview. Further, one must have worked for 02(Two) years in immediate below scale for the post applied, if employed in Govt./ Semi Govt./ Public Sector Undertaking. The Company reserves the right to fill up/ alter/ cancel the post without assigning any reason.

Applications on plain paper with detailed Resu111e, Photograph, copies of all certificates of qualification & experience favouring the candidature and duly signed may be sent to Dy. General Manager (P,A,S), Braithwaite & Co. Ltd.,5 , Hide Road, Kolkata-700043 . The envelope should be superscribed for the post applied for.

CLOSING DATE: The last date of receipt of applications will be 23rd February2019 .

No. Rectt./2019/1 Dy. General.Manager (P,A,S)

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Fortune befriend the bold - Dryden

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SARASWATI PUJA CELEBRATION ON 10th FEBRUARY 2019 AT ICSI-EIRC HOUSE

PRAYER MEETING OBSERVED ON 20th FEBRUARY 2019 AT ICSI-EIRC HOUSE IN THE MEMORY OF FOR THE BRAVE SOLDIERS WHO WERE KILLED IN PULWAMA TERRORIST ATTACK

NEWS & EVENTS

A thing of beautiful is a joy for ever - Keats

GST IMPLICATION ON SECOND HAND GOODS – MARGIN SCHEME BY CS Prateek Agrawal

Associate Director - Finance and Company Secretary, Omega Healthcare Management Services Pvt. Ltd, Bangalore

Second-hand goods dealers deal in purchase and sale of used goods. These goods might be sold as they are or after minor refurbishing. This article attempts to explain the key constituents to understand the impact of GST on the inward and outward supply of used goods by these dealers. We will also learn about the margin scheme, which is a scheme for paying tax, offered to second-hand goods dealers. Read on…

GST Impact on Second Hand Goods Industry:GST was launched as a revolutionary tax system in India on July 1st, 2017. It brings many changes in almost every sector of the economy of the country. This also includes the second-hand goods industry. This article aims to explain the impact of GST on the growing second-hand goods market in India.

As everyone knows that in the 21st century India has witnessed the rise of the middle class and consumerism in India. Recently a survey has been revealed that the growing consumerism in India alongside the rising disposable income will see India's used goods market to rise to Rs. 1,15,000/- crore from the existing Rs. 80,000/- crore. There is huge market for second hand or used goods in India, many of the traders are dealing with used goods for instance second hand car bazaar, mobile bazaar etc. Websites like eBay and OLX have made a successful business out of it.

It is easy to calculate GST on second-hand goods sale as in this article we have discussed all the legal and known provision for the sale of second-hand goods under GST.

These bring us to the burning topic of today called ‘Margin Scheme’ in GST which not many people are aware of yet. Let’s find out more about it.

What is Margin Scheme?Margin scheme is for persons who deal in purchase and sale of second hand goods. Rule 32(5) of the Central Goods and Services Tax (CGST) Rules, 2017 provides that where a taxable supply is provided by a person dealing in buying and selling of second hand goods i.e., used goods as such or after such minor processing which does not change the nature of the goods and where no input tax credit has been availed on the purchase of such goods, the value of supply shall be the difference between the selling price and the purchase price and where the value of such supply is negative, it shall be ignored. This is known as the margin scheme.

If the sales price less purchase price is negative then it will be ignored. For example if a dealer purchase two cars, in which he makes a profit of Rs. 50,000 in one and make loss of Rs. 20,000 on second one. The dealer has to pay tax on Rs. 50,000 only in such case.

Purpose - Why there was a need for Margin Scheme?Margin Scheme is to avoid the double taxation on the supply of goods on which a tax has already been paid (when it was sold in new condition). The margin scheme is applicable on unlimited second-hand supplies, even of the same item. And if there is no margin in such a deal, there will be no GST applicable.

Suppose car is purchased by Mr. Rohit for Rs. 10 lakhs and it includes GST amount of Rs. 2 lakhs. Now if he resells it after 4 years for Rs. 5 lakh then if GST is imposed on such Rs. 5 lakh then it leads to double taxation. Therefore there is a need to define rules for purchase and sale of second hand goods and thus Margin scheme is made available

Legality of tax levy on Second hand goods (Constitution of India)One would argue that how can a sale of second hand item be taxed because the Government has already collected the tax from the seller at the time of buying it, being the end consumer at the time of buying. The Constitution of India, vide Article 246 and 246A, empowers the Union and the States to make laws with respect to any matters enumerated in the Seventh Schedule.

Entry 92A of Union list in Schedule VII and Entry 54 of State list mention "taxes on the sale or purchase of goods other than newspapers". Article 366(12) of the Constitution defines goods as "goods includes all materials, commodities and articles". Hence, the goods are deemed to include second hand goods by whatever name called such as pre-owned goods, used goods, etc.

Meaning of Second hand goodsThe GST Acts / rules do not define second hand goods. Also none of the existing laws including Excise, State VAT Laws have defined second hand goods. Looking at the definition of Goods, Section 2(52) of the Central Goods and Services Tax Act states that "goods means every kind of movable property other than money and securities but includes actionable claim, growing crops, grass and things attached to or forming part of the land which are agreed to be severed before supply or under a contract of supply". Hence second hand goods, since not specifically excluded in the definition, are included in the definition of goods and the GST law shall apply to second hand goods in the same manner as it applies to new goods.

Levy of GST on sale of second hand goodsAs per Section 7(1) of the Central Goods and Services Tax Act, the expression supply includes all forms of supply of goods or services or both such as sale, transfer, barter, exchange, license, rental, lease or disposal made or agreed to be made for a consideration by a person in the course or furtherance of business.

Hence, supply of second hand goods made for a consideration in the course or furtherance of business shall be taxable under GST law and all the provisions of GST law shall be applied to such supply.

Inward supply of second-hand goodsWhen a registered second-hand goods dealer buys used goods, the supply can be either from a registered person or unregistered person. Let us look at the tax implication in both these cases:

Inward supply from registered personWhen a registered second-hand goods dealer purchases used goods from a registered person, the supplier is liable to charge tax at the rate applicable to the goods. If the second-hand goods dealer opts for the margin scheme, the dealer cannot take input tax credit of the tax paid.

Example: Veena Marts purchases 5 used computers from a registered dealer in Karnataka, Lakshmi Solutions, for total value of Rs. 1,00,000. Here, Lakshmi Solutions will levy CGST + SGST @ 9% each on the supply (Rate applicable to computers is 18%). Hence, CGST + SGST of Rs. 9,000 each are incurred by Veena Marts on this purchase. If Veena Marts has opted for the margin scheme, they cannot take the ITC of CGST + SGST of Rs. 9,000 each.

Inward supply from unregistered personWhen a registered second-hand goods dealer purchases used goods from an unregistered person, the recipient is liable to pay tax on reverse charge. However, if the second-hand goods dealer opts for the margin scheme, the dealer will not be liable to pay tax on reverse charge on inward supplies from unregistered persons. (Notification No.10/2017-Central Tax (Rate).

Example: Veena Marts, which has opted for the margin scheme, purchases a used camera from an unregistered dealer in Karnataka, for value of Rs. 10,000. Here, Veena Marts is not liable to pay CGST + SGST of Rs. 1,400 each (GST rate applicable to cameras is 28%) on reverse charge.

Note: There can be scenarios where a registered second-hand goods dealer purchases used goods from a consumer. As sale by consumers is not a supply under GST (Should be in the course or for the furtherance of business), there is no tax liability on the purchase of used goods from consumers by second-hand goods dealers.

ARTICLE15

All change is not growth, as all movement is not forward - E.A.G. Glasgow

Outward supply of second-hand goodsWhen a registered second-hand goods dealer supplies second-hand goods, the dealer is liable to charge GST on the second-hand goods. For this, 2 options have been given to the dealers:

OPTION A: Charge GST on the full transaction value. Here, the dealer is eligible to claim input tax credit of the tax paid on purchase of the used goods.

Example: Veena Marts, a registered second-hand goods dealer in Karnataka, supplies a used camera to a consumer in Delhi for selling price of Rs. 15,000. The camera was purchased for Rs. 10,000 from a registered dealer in Karnataka, on which CGST + SGST of Rs. 1,400 each was charged. (GST rate applicable to cameras is 28%)

Here, Veena Marts will charge IGST @28% on Rs. 15,000 (selling price), which is Rs. 4,200. Veena Marts will avail ITC of CGST + SGST of Rs. 1,400 each on the camera.

OR

OPTION B: Charge GST on the margin or profit earned on the goods, that is, the difference between the selling price and the purchase price. This is called the Margin Scheme, which has been given to second-hand goods dealers.

Example: Veena Marts supplies a used camera to a consumer in Delhi for selling price of Rs. 15,000. The camera was purchased for Rs. 10,000 from a registered dealer in Karnataka, on which CGST + SGST of Rs. 1,400 each was charged. Veena Marts has opted for the margin scheme and hence, has not availed the input credit on purchase of the used camera and has supplied the camera as is.

Here, Veena Marts’ margin earned on the camera is Rs. 5,000 (Selling price minus purchase price). On Rs. 5,000, Veena Marts has to charge GST @ 28%. Hence, IGST to be charged here is Rs. 1,400 and Veena Marts cannot avail ITC of CGST + SGST of Rs. 1,400 each.

Note: For a dealer who has opted for the margin scheme, there can be a scenario where the second-hand goods are sold at zero margin or for a lesser price than the purchase price. In this case, no GST will be applicable on the supply.

However, for a dealer to avail this scheme, certain conditions have been prescribed. Let’s find out more about it.

Conditions for attracting the provisions of margin scheme as per Rule 6(5)A few conditions shall be followed by a second hand goods dealer to avail the benefit of the rule of margin scheme:

a) The supply should be of second hand goods only.

b) Pre-owned goods are not necessarily deemed to be second hand goods or used goods. The goods should actually be used before.

c) The person should be dealing in both buying and selling of second hand goods. Just one or two sales of unwanted second hand goods/assets cannot be deemed to be dealing in such goods.

d) Minor processing is allowed. The dealer can carry out minor processing like repairs, refurbishing, re-boxing, etc.

e) Nature of goods should not change. If different accessories and goods are bought and assembled into a new kind of product, which is different in nature as compared to the goods bought earlier, the valuation rule benefit would not apply.

f) No input tax credit should have been availed on purchases. The taxes paid on purchases either to seller or to Government under reverse charge, both should not have been claimed as Input tax credit.

g) Losses cannot be set-off. Where the selling price is lower than the purchase price, tax on losses shall be NIL and such negative margin cannot be set-off for tax payable on other positive margins. Such valuation rule is often known as margin scheme or differential scheme in many countries.

Valuation of second hand goods Section 15(5) of the Central

Goods and Services TaxValuation of second hand goods Section 15(5) of the Central Goods and Services Tax Act states that the value of such supplies as may be notified by the Government on the recommendations of the Council shall be determined in such manner as may be prescribed. CGST Rules 2017 "Determination of Value of Supply" rules state as below: "Where a taxable supply is provided by a person dealing in buying and selling of second hand goods i.e. used goods as such or after such minor processing which does not change the nature of the goods and where no input tax credit has been availed on purchase of such goods the value of supply shall be the difference between the selling price and purchase price and where the value of such supply is negative it shall be ignored."

Value of Purchase Price in case of Repossession from Defaulting BorrowerThe proviso to the above rule further provides that in the case of repossession of second hand goods from an unregistered borrower with the purpose to recover of a loan amount, the taxable value will be the actual purchase price of such goods (for the borrower) reduced by 5% for every quarter, between the date of purchase and the date of disposal by the person making such repossession.

Example: When the goods are repossessed, if the purchase of value of goods is Rs.100000/- on 1st April 2017 and repossession date is on 15th July 2017, the purchase value is determined as Rs.90000/- reduced by 5% per quarter for two quarter (Apr-Jun) and (Jul-Sep) (100000*10%).

In short, any supply of second hand goods, where no ITC was claimed on the purchase of such goods and the nature of goods is unchanged, are eligible under the GST Margin Scheme, and the tax on such supplies will be levied only on the difference (margin) value. There will be no tax if the margin value is zero or negative.

Cost of the repairs/changesIn case any value addition as minor changes made to the goods like repair, refurbishing, reconditioning, etc shall be added to the selling value of the goods and be part of the margin. In short, GST will also be levied on the value of upgrades and modifications made in the second hand item before reselling it.

Example: If the purchase of value of goods is Rs.100000/- and selling value of the same after minor changes is Rs.150000/-, GST is payable on the margin or the difference of purchase value and sale value, i.e. Rs.50000/-. This margin of Rs.50000/- may include value additions as minor changes and profit.

GST Rates ApplicableSince there is no distinction between new goods and second hand goods under GST Law, the GST rates to be applied to used goods would be same as if they were new goods. For example if 28% GST rate is applicable on a car, then on sale of second hand car also 28% GST rate is applicable.

Readers not to get Confused between Second Hand Goods and Used goods with scrapReaders are advised not to get confused between second hand goods and used goods with scraps. There is a separate rate applicable on the buying and selling of scraps under goods and service tax act.

Is there any exemption on buying old second hand goods from unregistered person?In this regard, Notification No.10/2017-Central Tax (Rate) New Delhi, dated 28th June, 2017 exempts the registered dealers who deals in buying and selling of second hand goods and who pays the central tax on the value of outward supplies of such second hand goods as per Rule 32 (5) of the CGST Rules, 2017, from paying whole of central tax on the intra state supplies of second hand goods received from the unregistered dealers which is livable under section 9 (4) of the CGST Act, 2017. Similar exemptions are also there in respective SGST Acts.

Note: The intra-state purchases (inward supplies) of second hand goods by a registered professional dealer will be exempted from central tax, but the dealer will have to pay CGST/SGST on the outward supplies.

ARTICLE16

Good deeds ring clear through heaven like a bell - Richter

Tax InvoiceIf margin scheme is opted for a transaction of second hand goods, the person selling the second hand goods to the registered dealer in second hand goods shall not issue any taxable invoice and the buyer cannot claim ITC on the purchase.

ITCThe registered dealer who purchases such second hand goods under the margin scheme cannot avail Input tax credit on the purchase of the goods.

Dealers Acting as an AgentIf the second hand dealer is not purchasing and selling goods but acting as an agent for seller to find the buyer then this scheme is not applicable on such dealer. GST at the rate of 18% is applicable on the commission received by dealer either from the seller or from the buyer.

When Goods are purchased from a Registered DealerIf a dealer purchase second hand goods from another registered dealer then GST is to be collected by selling dealer. And the GST paid by purchasing dealer is allowed as input tax credit to him as per normal ITC rules. The selling dealer also has to pay GST on the margin amount and not the full value.

Maintain authentic documentsIs advisable to maintain authentic documents like payment voucher against buying of second hand goods from unregistered seller and make payment for buying old goods through banking channel which is authentic proof for your purchase price.

Position regarding applicability of the Margin Scheme under GST for dealers in second hand goods in general and for dealers in old and used empty bottles in particular.Doubts have been raised regarding the applicability of the Margin Scheme under GST for dealers in second hand goods in general and for dealers in old and used empty bottles in particular.

It is hereby clarified that Margin Scheme can be availed of by any registered person dealing in buying and selling of second hand goods [including old and used empty bottles] who satisfies the conditions as laid down in Rule 32(5) of the Central Goods and Services Tax Rules, 2017.

Relaxation in GST rates and cess on sale of second hand (used and old) vehicles after 25th GST Council MeetingIn GST, margin scheme has been provided in case of sale of second hand motor vehicles. In this scheme, a person supplying old and used vehicles is liable to pay GST on the profit margin at the time of sale of such vehicles. Basic condition to avail this scheme is that the person supplying such vehicles had not claimed input tax credits under GST or under CENVAT Credit rules or VAT in any State VAT law at the time of purchase of these vehicles.

Government has provided this scheme to every registered person w.e.f. 25.01.2018 through relevant notifications under CGST and IGST acts. Earlier, this scheme was limited to only those dealers who were dealing in sale and purchase of old vehicles.

Used car industry was suffering burden of 28% GST rate, their pain was considered in 25th GST Council meeting and decision was taken to reduce GST rate and cess on used car.

As per CGST notification CGST-R-8/2018 and IGST notification IGST-R-9/2018 dtd 25.01.2018, every registered person supplying following specified goods will be liable to pay GST on the value that represents margin of the supplier at new rates which are

S. No. HSN Code Description of Goods Rate

1 8703 Old and used, petrol Liquefied petroleum gases (LPG) or compressed natural gas (CNG) driven motor vehicles of engine capacity of 1200 cc or more and of length of 4000 mm or more.

9%

2. 8703 Old and used, diesel driven motor vehicles of engine capacity of 1500 cc or more and of length of 4000 mm 9%

3. 8703 Old and used motor vehicles of engine capacity exceeding 1500 cc, popularly known as Sports Utility Vehicles (SUVs) including utility vehicles.

9%

4. 87 All Old and used Vehicles other than those mentioned from S. No. 1 to S.No.3

6%

GST Compensation Cess rateFurther, GST Compensation Cess rate schedule is also amended by Notification No. 1/2018-Compensation Cess (Rate) dated 25-01-2018 to exempt fully from GST Compensation Cess on such supplies.

Determination of value of Margin Value of margin to be determined in following manner:-

• In case of a registered person has claimed depreciation under section 32 of the Income-Tax Act,1961(43 of 1961) on the said goods, the value that represents the margin of the supplier shall be the difference between the consideration received for supply of such goods and the depreciated value of such goods on the date of supply, and where the margin of such supply is negative, it shall be ignored; and

• In any other case, the value that represents the margin of supplier shall be, the difference between the selling price and the purchase price and where such margin is negative, it shall be ignored.

Position from 01.07.2017 to 12.10.2017 for the vehicles originally purchased before 01.07.2017In case, any ‘old and used’ motor vehicle sold during the period from 01.07.2017 to 12.10.2017, GST is leviable on full sale price at applicable rate as prescribed in GST Tax Rate Schedules plus Compensation Cess.

Position from 13.10.2017 to 24.01.2018 for the vehicles originally purchased before 01.07.2017In case, any ‘old and used’ motor vehicle sold during the period from 13.10.2017 to 24.01.2018, GST is leviable on full sale price at 65% of applicable rate as prescribed in GST Tax Rate Schedules plus 65% of applicable rate of Compensation Cess.

Basic condition to charge 65% tax is that the person supplying such vehicles had not claimed input tax credits under CENVAT Credit rules or VAT in any State VAT law at the time of purchase of these vehicles.

Position from 01.07.2017 to 24.01.2018 for the vehicles originally purchased post GSTWhere ITC not claimed:-In case, any ‘old and used’ motor vehicle sold during the period from 01.07.2017 to 24.01.2018, GST is leviable on full sale price at applicable rate as prescribed in GST Tax Rate Schedules plus Compensation Cess. Where ITC Claimed under GST:-In this case, provisions of Section 18(6) of CGST Act would be applicable. As per section 18(6), In case of supply of capital goods or plant and machinery, on which input tax credit has been taken, the registered person shall pay an amount equal to the input tax credit taken on the said capital goods or plant and machinery reduced by ‚five percentage points for every quarter or part thereof‛ or the tax on the transaction value of such capital goods or plant and machinery determined under section 15, whichever is higher.

ARTICLE17

All experience is an arch to build upon - Henry Broks Adams

Points still need to be clearedThe dealer which is selling the second hand goods to customer has to pay tax on his margin only. GST rate and GST amount is to be shown in the normal invoice (as no tax invoice is issued). Therefore, the purchaser of goods can determine the margin amount of the seller. And no seller wants to let the purchaser know his margin for obvious reasons. Hence it may be practical issue with the seller opting for Margin Scheme.

ConclusionFor second-hand goods dealers, the margin scheme has been given as an option for paying tax on supply of second-hand goods. The benefit of opting for the margin scheme is that the dealer needs to pay tax only on the margin earned on sale. This is very useful for dealers who mostly purchase used goods from end customers. As there is no applicability of input tax credit on these purchases, these dealers need to pay tax only on the margin earned on sale. However, dealers opting for the scheme should ensure that ITC on the goods is not availed and the goods are supplied as is or after minor processing which does not change the nature of the goods.

GST and GSTN promise to be the backbone of the future Indian Digital Economy. The Margin Scheme under GST will not only be a boost for the upbeat till now unregulated second-hand goods market thereby increased tax compliance but also banish the impact of double taxation.

Keeping in mind the enormous market of second hand and used goods, the scheme would prove to be a milestone and help to give boost to second hand goods market in India.

Global scenario of tax on second hand goodsThe transactions of second hand goods being sold by non-taxable individuals not having business are exempt in most of the countries all over the globe. Also many of the countries having VAT/GST laws have margin schemes for dealers in second hand goods. Countries like Singapore, Malaysia have specific rules and guidance notes for taxes on second hand cars. New Zealand specifically excludes "livestock" and "goods consisting of any fine metal of any degree of purity" from the definition of second hand goods, which is quite logical. Countries like Albania, Belgium, Finland, Israel, Italy, Mauritius, UK, etc. have special arrangements by way of profit margin schemes and simplified tax measures for dealers of art works, collectibles, antiques etc.

References1.The Central Goods and Services Act (http://cbec.gov.in/htdocs-cbec/gst/cgst-act.pdf)

2.Integrated Goods and Services Act (http://cbec.gov.in/htdocs-cbec/gst/igst-act.pdf)

3.Determination of Value of Supply Rules (http://cbec.gov.in/htdocs-cbec/gst/valuation-gst-rules- 17052017.pdf)

4.FAQs on GST by CBEC, New Delhi (http://cbec.gov.in/htdocs-cbec/gst/new-faq-on-gst-second- edition.pdf)

5.Malaysia - Guide on Relief for second-hand goods (Margin Scheme) issued by Royal Malaysian Customs

6.Relevant Rules and Notification related to Margin Scheme•Rule 32(5) of CGST rules 2017•Notification number 10/2017 central tax (rate)•Notification number 8/2018 of central tax (rate)•Notification number 9/2018 of IGST•Notification number 1 /2018 cess(rate)

Author’s CommentsGST, which was implemented by the Government from 1st July 2017, is without doubt the most significant and path breaking economic reform in the country since Independence. Despite of being mocked by opposition, GST–the India’s new unified nationwide value-added system of taxation has come a long way in simplifying the complex tax structure of the Country. Initial anxieties are settling to an extent with the passage of time, but still there is long way for GST to eventually be called a ‘Good and Simple Tax’ in real sense. Though lots of worries of the Industries have been addressed with proposed amendments in GST Law which is indeed heartening for taxpayers, but still there are many other open areas lacking clarification which also requires to be addressed appropriately.

APPOINTMENT

WANTED COMPANY SECRETARY

Apply With Resume & Photograph To :

Toplight Commercials Limited, 7A, Bentinck Street,Room No. 105, Kolkata- 700 001.E-mail: topligbtkol@gmailcom

Toplight Commercials LimitedBWL LTD

BWL LTD (BSE Listed) having registered office at Industrial Area, Bhilai in the state of Chhattisgarh is looking for one company secretary in Bhilai having 0 - 02 years of experience.

Job Description:a) Having Knowledge of Listing Compliances

b) Secretarial compliances of parent company and its group companies

c) Handling tax related matters including GST and filling of returns.

Eligibility: 0-02years experience, Salary Details: Rs 3.00lacs per Annum, Job Location: Bhilai

Apply at : [email protected] (Address to Managing Director)

ARTICLE18

Distance lends enchantment to the view - Campbell

19

WORKSHOP ON INTERIM BUDGET ON 2nd FEBRUARY 2019 AT ICSI-EIRC HOUSE

NEWS & EVENTS

LEGAL UPDATES BY CS Amit Kumar

Company SecretaryNotification under Section 465 of Companies Act, 2013 : [Date of Notification: 30.01.2019]

S.O.- (E). - In exercise of the powers conferred by sub-section (3) of section 1 of the-Companies Act, 2013 (18 of 2013), the Central Government hereby appoints 30th January 2019 as the date on which the provisions of section 455 of the said Act in so far as they relate to the

repeal of the Companies Act, L956 (1 of 1956) [that in except in so far as they relate to the repeal of the Registration of Companies (Sikkim) Act, 1961 (Sikkim Act 8 of 1961)l shall come into force.

Notification 42 of Companies Act, 2013-Private Placement and allotment of securities: [Date of Notification: 22.01.2019]

G.S.R. 43(E).—In exercise of the powers conferred by section 26, sub-section (1) of section 27, section 28, section 29, sub-section (2) of section 31, sub-sections (3) and (4) of section 39, sub-section (6) of section 40 and section 42 read with section 469 of the Companies Act, 2013 (18 of 2013), the Central Government hereby makes the following rules further to amend the Companies (Prospectus and Allotment of Securities) Rules, 2014, namely:—

In the Companies (Prospectus and Allotment of Securities) Rules, 2014, in rule 9A, after sub-rule (10), the following shall be inserted, namely:— “(11) This rule shall not apply to an unlisted public company which is:— (a) a Nidhi; (b) a Government company or (c) a wholly owned subsidiary.”.

Notification 469 of Companies Act, 2013-Power of Central Government to make Rules :[Date of Notification: 15.01.2019]

G.S.R.29(E).—In exercise of the powers conferred by sub-section (1) and sub-section (2) of section 469 of the Companies Act, 2013 (18 of 2013), the Central Government hereby makes the following rules further to amend the National Company Law Tribunal Rules, 2016, namely:- 1. (1) These rules may be called the National Company Law Tribunal (Amendment) Rules, 2019. (2) They shall come into force on the date of their publication in the Official Gazette.

2. In the National Company Law Tribunal Rules, 2016, in rule 71:- (i) In sub-rule (3), in clause (b) for the words “Central Government” the words “Regional Director” shall be substituted. (ii) In sub-rule (4), for the words “Central Government” the words “Regional Director” shall be substituted

Note: The principal rules were published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R. 716(E), dated the 21st July, 2016 and amended vide notification number G.S.R.1159(E) dated the 20th December, 2016 and vide notification number G.S.R. 840 (E) dated 5th July, 2017.

Notification of Section 73- Prohibition on acceptance of deposits from public :

[Date of Notification: 22.01.2019]

G.S.R. 42(E).—In exercise of the powers conferred by clause (31) of section 2 and section 73 read with sub-sections (1) and (2) of section 469 of the Companies Act, 2013 (18 of 2013), the Central Government, in consultation with the Reserve Bank of India, hereby makes the following rules further to amend the Companies (Acceptance of Deposits) Rules, 2014, namely:-(1) These rules may be called the Companies (Acceptance of Deposits) Amendment Rules, 2019. (2) They shall come into force on the date of their publication in the Official Gazette.

In the Companies (Acceptance of Deposits) Rules, 2014 (hereinafter referred to as the said rules), in rule 2, in sub-rule (1), in clause (c), in sub-clause(xviii), after the words “Infrastructure Investment Trusts,” the words “Real Estate Investment Trusts” shall be inserted.

In the said rules, in rule 16, the following Explanation shall be inserted, namely:- “Explanation.- It is hereby clarified that Form DPT-3 shall be used for filing return of deposit or particulars of transaction not considered as deposit or both by every company other than Government company.”

In the said rules, in rule 16(A), after sub-rule (2), the following sub-rule shall be inserted, namely:- “(3) Every company other than Government company shall file a onetime return of outstanding receipt of money or loan by a company but not considered as deposits, in terms of clause (c) of sub-rule 1 of rule 2 from the 01st April, 2014 to the date of publication of this notification in the Official Gazette, as specified in Form DPT-3 within ninety days from the date of said publication of this notification along with fee as provided in the Companies (Registration Offices and Fees) Rules, 2014.”.

Notification of form for MSME :

S.O. 368(E).—Whereas, the Central Government vide notification number S.O. 5622(E), dated the 2nd November, 2018 has directed that all companies, who get supplies of goods or services from micro and small enterprises and whose payments to micro and small enterprise suppliers exceed forty five days from the date of acceptance or the date of deemed acceptance of the goods or services as per the provisions of section 9 of the Micro, Small and Medium Enterprises Development Act, 2006 (27 of 2006) (hereafter referred to as “Specified Companies”), shall submit a half yearly return to the Ministry of Corporate Affairs stating the following: (a) the amount of payment due; and (b) the reasons of the delay;And whereas, in exercise of power under section 405 of the Companies Act, 2013, (18 of 2013) the Central Government, considers it necessary to require “Specified Companies” to furnish above information under said section of the Act.Now, therefore, in exercise of the powers conferred by section 405 of the Companies Act, 2013 (18 of 2013), the Central Government hereby makes the following Order, namely:-1. Every specified company shall file in MSME Form I details of all outstanding dues to Micro or small enterprises suppliers existing on the date of notification of this order within thirty days from the date of publication of this notification.2. Every specified company shall file a return as per MSME Form I annexed to this Order, by 31st October for the period from April to September and by 30th April for the period from October to March.amended vide notification number G.S.R.1159(E) dated the 20th December, 2016 and vide notification number G.S.R. 840 (E) dated 5th July, 2017.

LEGAL UPDATES

A friend in power is a friend lost - H.B. Adams

20

All objects lose by too familiar a view - John Dryden

21

BHUBANESWAR CHAPTERDate Name of the Programme Name Of The Topic Venue Total Participants

13/01/2019 Inauguration of 3rd Floor of Chapter Conference Hall Chief Guest:Shri Surjya Narayan PatroHon’ble Minister, Food Supplies Govt. of Odisha

Chapter Office 100

16/01/2019 Opening of ICSI Nayagarh Study Centre Dr. Smt. Bijayalaxmi ParidaPrincipal, Nayagarh (A) College

Nayagarh Autonomous College, Nayagarh, Odisha

100

18/01/2019 Bhubaneswar Chapter was the Knowledge Partner of the Programme on “SME Funding : Role of Capital Markets”

Chief Guest :Mr. S K Mohanty, Whole Time Director, SEBI

Hotel Trident Bhubaneswar

15 Members from the Bhubaneswar Chapter

26/01/2019 Celebration of Republic Day - Chapter Office Premises 60

30/01/2019 Interactive Session with Vice Chancellor, Berhampur University

Prof. Rajendra Prasad DasVice Chancellor

Berhampur UniversityBerhampur, Ganjam, Odisha

6

30/01/2019 Interactive Session with PG Department of Commerce & MBA

- PG Department of CommerceBerhampur University, Odisha

10

Total No. of Career Awareness Programmes organised during January, 2019 05

HOOGHLY CHAPTERDate Name of the Programme Name Of The Topic Venue Total Participants

06.01.2019 5th Annual Members’ Conference on “Rules and Tools of Interpretation of Statutes” and “Legal Issues on Disqualification of Directors”

CS Deepak Kumar KhaitanPracticing Company Secretary

CS Rites GoelAdvocate, Calcutta High Court

Conference Hall of Hooghly Chapter, Rishra

44

26.01.2019 Republic Day Celebration Chapter Premises of Hooghly Chapter, Rishra

20

Total No. of Career Awareness Programmes organised during January, 2019 00

RANCHI CHAPTERDate Name of the Programme Name Of The Topic Venue Total Participants

05.01.2019 Webcast for students on GST - Conference Hall of Hooghly Chapter, Rishra 44

05.01.2019 Interactive meet with ROC cum OL, Ranchi, Jharkhand

Shri Prahlad Meena, ROC-cum-OL, Ranchi, Jharkhand

Hotel Trident Inn, Vishnu Gali, Ranchi 47

26.01.2019 70th Republic Day Celebration - Ranchi Chapter of EIRC of ICSI 12

Total No. of Career Awareness Programmes organised during November & December, 2018 01

This is to inform to all that views and information expressed and provided in the Articles of this edition are the views and information of the respective authors. They have no connection with the organisation with which the authors are associated. ICSI-EIRC is not responsible for the authenticity or propriety of the contents of the Articles and ICSI-EIRC cannot be held responsible or liable for any claim or damage arising out any ation or belief on the basis of the contents of the aforesaid Articles. ICSI-EIRC is not in any way responsible for the result of any action taken on the basis of the advertisement published in ICSI-EIRC Newsletter.

For latest admission of Associate and Fellow Members, Life Members of Company Secretaries Benevo-lent Fund (CSBF), Licentiates and issuance of Certificate of Practice, kindly refer to the link http://www.icsi.edu/Member.aspx

DISCLAIMER

ATTENTION!

CHAPTERS' NEWS

22

The better part of valour is discretion - Shakespeare

COMPANY SECRETARIES BENEVOLENT FUND

EDITORIAL BOARD

CS MAMTA BINANI MEMBER

CS S. K. AGRAWALA MEMBER

CS RAJESH PODDAR MEMBER

CS RAJENDRA CHOTIA MEMBER

CS RAJESH CHURA EX-OFFICIO CHAIRMAN

Edited and Published by Shri DVNS Sarma,Regional Director (EIRO), on behalf of ICSI - EIRC, ICSI-EIRC House, 3A, Ahiripukur 1st Lane, Kolkata-19

JANUARY-FEBRUARY, 2019 ISSUE From the Desk of the Chairman ... · Roshan Lal Nad Secretary...

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