Form 17
This query is : Resolved
07 May 2013
Whether Form 17 should be filed within 30 days from the receipt "NO DUE CERTIFICATE" from the charge holder or from the date on which the loan is paid? Which should i consider for calculating the due date?
07 May 2013
RECKONING OF THIRTY DAYS IN CASE OF BANK FOR FILING OF FORM-17
Department Circular I: The Department is of the view that the period of 30 days under section 138, in case where bank is involved, will be counted from the date of issue of Bank letter to companies intimating them about the satisfaction of charge under section 138 (Letter No. 3(141) 17/78 dated 17-08-1978 as corrected by letter No. 8/10(25)/77, dated 20-09-1978).
Department Circular II; In a later Circular the department further clarified: The matter has been re-considered and it is felt that section 138 of the Act refer to the “date of payment or satisfaction” and there is no linkage to the date of Bank’s letter. It is, therefore clarified that the satisfaction of charge under section 138 of the Act be filed with ROC with in 30 days from the date of payment or satisfaction of charge. (Letter No. 3/23/89-CL-V dated 26.12.1991). This Circular is in accord with the decision of CLB in Swaraj Mazda Case, (Supra).
Department Circular I: The Department is of the view that the period of 30 days under section 138, in case where bank is involved, will be counted from the date of issue of Bank letter to companies intimating them about the satisfaction of charge under section 138 (Letter No. 3(141) 17/78 dated 17-08-1978 as corrected by letter No. 8/10(25)/77, dated 20-09-1978).
Department Circular II; In a later Circular the department further clarified: The matter has been re-considered and it is felt that section 138 of the Act refer to the “date of payment or satisfaction” and there is no linkage to the date of Bank’s letter. It is, therefore clarified that the satisfaction of charge under section 138 of the Act be filed with ROC with in 30 days from the date of payment or satisfaction of charge. (Letter No. 3/23/89-CL-V dated 26.12.1991). This Circular is in accord with the decision of CLB in Swaraj Mazda Case, (Supra).
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- STCG....................................................
- Supply through E-commerce Operators
- TAN for Partnership
- Sales return eway bill
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- Relief u/s Section 89
- GST Registration Horse racing
- Section 43B(h) – MSME Invoice Paid Before Year End but After 45 Days
- CA IPCC Registeration in 2012, Is my registration Active or Expired
- Specified Profession
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- Nomination of Bank for refund in itr 2
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
