Prepration of balance sheet in case of new company.

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alok kathuria (Querist)

07 December 2015 Dear sir

My company is incorparated on 10.02.2014 , I have to prepared two balance sheet or one Balance sheet from 10.02.2014 to 31.3.2014 and 31.3.2015 or consoliate balance sheet from 10.2.2014 to 31.3.2015 is sufficient as per Company Act 2013 ? During the year there is no tranaction..

CA CS Jainam Shah

CA CS Jainam Shah (Expert)

07 December 2015 You can prepare one balance sheet from 10-2-14 to 31-03-15. As per companies act financial year of company can't be more than 15 Months and first AGM should be held within 18 months from the date of incorporation. So, first AGM should be held before 9th August, 2015.

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Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)

08 December 2015 See an example in https://www.caclubindia.com/experts/due-date-of-first-agm-2227079.asp

alok kathuria

alok kathuria (Querist)

05 June 2017 Goods dispatched by Firm"A" from Banglore to Firm "B" at Faridabad & it was invoiced to Firm"C" at Jharkhand. Firm "C" raised invoiced on B of Faridabad under E1 transaction whether this is legal transaction or not?

C issued CST form to A and B issued CST form to C . A issued E-1 form to Party C Jharkhand .Party C has submitted form E-1 and "C" Form of Party B to tax authority completing the sale in transit whether this transaction is correct as per CST Act Section 6(2). If yes please quote two or three case laws..

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