Frequently Asked Questions
Can you assist with business closure?
Absolutely! We handle the entire process of company closure, including filing necessary forms and compliance requirements.
Do you assist with corporate governance compliance?
Yes, we help companies adhere to corporate governance norms, including board meeting management and compliance with SEBI guidelines.
What happens if we miss statutory filing deadlines?
Missing deadlines can lead to penalties and disqualifications for directors. Our team ensures timely compliance to avoid such issues.
Can Namoye help with company incorporation?
Yes, we offer comprehensive incorporation services, from drafting documents to obtaining approvals from the ROC.
What is included in annual compliance for a private limited company?
Annual compliance includes filing forms like MGT-7 (annual return) and AOC-4 (financial statements), holding annual general meetings, and maintaining statutory registers.
Do all companies require a Company Secretary?
Only companies with paid-up capital above ₹10 crore are mandatorily required to appoint a Company Secretary. However, outsourcing secretarial services is beneficial for all businesses.
Do I need an audit under GST?
GST audits are required for businesses with turnover exceeding ₹2 crore. Special audits may also be conducted by GST authorities.
What happens if I miss the GST return filing deadline?
Late filing attracts a penalty of ₹50 per day for regular returns and ₹20 per day for nil returns, along with interest on any outstanding tax liability.
Can I claim Input Tax Credit (ITC) on all purchases?
No, ITC can only be claimed on eligible purchases used for business purposes. Certain expenses like personal use, motor vehicles, and others are excluded.
What is the due date for GST return filing?
The due dates vary based on the type of return. For instance, GSTR-3B is due monthly or quarterly, while GSTR-9 (annual return) is due once a year.