• public Company with a minimum paid up capital of Rs. 5 Lacs
• Shall not issue preference shares
• Shall have last words “Nidhi Limited” as a part of its name.
• Minimum 3 Directors which shall mandatorily be a member of Nidhi Company.
• Minimum 7 shareholders.

• Within a period of one year of incorporation, the Nidhi Company has to ensure the following compliances:
• Minimum 200 members
• Net owned funds (“NOF”) of at least Rs. 10 lakhs. (Net owned fund means the aggregate of paid-up equity share capital and free reserves as reduced by accumulated losses and intangible assets appearing in the last audited balance sheet)
• The ratio of NOF to deposits of not more than 1:20.
• Unencumbered term deposits of not less than 10% of the outstanding deposits

• issue preference shares or debt instruments. 
• open any current account with its members. 
• acquire any Company by way of purchase of securities or controlling the composition of Directors unless approval has been taken from the Regional Director. 
• carry on any business other than the business of borrowing and lending its own name. 
• accept deposits from and lend to anyone else, apart from its members. 
Hypothecation any of the assets lodged by its members as security take deposits from any body corporate.
• into any partnership arrangement in its borrowing or lending activities.
• advertisement for soliciting the deposit. 
• pay any brokerage or incentive for mobilizing deposits from members or for granting loans. 
• levy service charges for issue of its shares or issues less than 10 shares per deposit holder. 
• grant loans to members exceeding the ceiling as mentioned in the Nidhi Rules, 2014. 
• A charge rate of interest exceeding 7.5%. 
• does not declare dividend exceeding 25%

NDH-3:


• Half yearly return shall have to be filed within 30 days from the conclusion of each half year duly certified by a company secretary in practice or chartered accountant in practice or cost accountant in practice. 

• Auditors Certificate that the Company has requisitely complied with all the provisions of the Act. 

Further, the Income Tax provisions w.r.t. a Nidhi Company and a normal Company are the same.

Definition Companies Act 2013:- Section 2(16) “Charge” means an interest or lien Created on the property or assets of the company or any on its undertaking or both as security include a mortgage.
Companies Act, 2013:- Section 77 levied duty primarily on the company creatinga charge and to register charge with ROC. Company Creating a Charge,

Section -78 of the companies act, 2013 give benefit to charging holder to the registration of the charge along with the instrument where the company fails to register u/s 77, on such application, within 14 Days after giving notice to the company,

• unless the company itself register the charge,
• or company give sufficient reason why such charge should not be registered, allow such registration on payment of such fees as may be prescribed.

In such case, charge holders have the right to incurred expense from the company.

1. WEB PORTAL
2. VIA SMS

The person who wants Generate Bulk E-way Bill then Go threw WEB PORTAL FACILITY.

• SMS threw generate E-way Bill:-

• Click on "Send OTP" and enter the OTP which is send on registered mobile number

• A maximum "Two Mobile Number" can Be Registered against "ONE GSTIN"
• Multiple user ID against one mobile number, the following screen appears:

There are a set of SMS codes defined which can be used to work on the e-way bills generation/ cancellation.



Download SMS Codes Here

While using this facility, suppliers or transporter has to ensure that correct information is keyed in, to avoid any errors.

For example, EWBG/EWBT for Eway Bill Generate Request for suppliers and transporters respectively; EWBV for Eway Bill vehicle update Request; EWBC for Eway Bill Cancel Request are the codes.


Type the message( code_input info) and send the SMS to the mobile number of the State from which user(taxpayer or transporter) is registered.Eg: 97319 79899 in Karnataka

Type the relevant code for the desired action eg: Generation or cancellation and /or type the input against each code giving single space and wait for validation to take place. Verify and proceed.

Let’s see how to use this SMS facility for different actions as follows:

• For Suppliers- Generate E-way bills

The format of SMS request is as follows:

EWBG TranType RecGSTIN DelPinCode InvNo InvDate TotalValue HSNCode ApprDist Vehicle

Send this SMS to the registered mobile number of the State from which you are operating. Eg: 97319 79899 in Karnataka

Illustration:-

Mr. A of Bangalore, Karnataka delivering goods worth Rs. 1,00,000 bearing HSN code-7215, against an invoice he created- No. 1005 dated 27/01/2018 to a unit of Mr. B at Kolar, Karnataka through vehicle number KA 12 AB 2456 covering a distance of 73 km.

The draft SMS to be typed in by Mr. A will be:

“ EWBG OSUP 29AABPX0892K1ZK 560021 1005 27/01/2018 100000.00 7215 73 KA12AB2456 ”

This SMS needs to be sent to “ 9731979899 ” mobile number( officially registered for Karnataka users)

A message as follows is received as reply instantly if no errors:

“ E-way bill generated successfully. E-Way Bill No:181000000287 and date is 27/01/2018 ”

• For Transporters- Generate e-way bills

The format of SMS request is as follows:

"EWBT TranType SuppGSTIN RecGSTIN DelPinCode InvNo InvDate TotalValue HSNCode ApprDist Vehicle"
Send this SMS to the registered mobile number of the State from which you are operating. Eg: 97319 79899 in Karnataka

Illustration:-

Sans Transports of Bangalore, Karnataka a GTA delivering goods worth Rs. 1,50,000 bearing HSN code-7215, on behalf of Mr. A of Bangalore, Karnataka, against the invoice – No. 456 dated 20/01/2018 to a unit of Mr. B at Kolar, Karnataka through vehicle number KA 02 AB 7542 covering a distance of 73 km.

The draft SMS to be typed in by the operator at Sans Transports will be :

“ EWBT OSUP 29AABPX0892K1ZK 29AAEPM1443K1ZP 560021 456 20/01/2018 150000.00 7215 73 KA02AB7542 ”

This SMS needs to be sent to “ 9731979899 ” mobile number( officially registered for Karnataka users)

A message as follows is received as reply instantly if no errors:

“ E-way bill generated successfully. E-way Bill No:171000006745 and date is 20/01/2018 ”

• Updation of Vehicle Number

The format of SMS request is as follows:

EWBV EWB_NO Vehicle ReasCode

Send this SMS to the registered mobile number of the State from which you are operating. Eg: 97319 79899 in Karnataka

Illustration:-

Sans Transports of Bangalore, Karnataka a GTA delivering goods worth Rs. 1,50,000 bearing HSN code-7215, on behalf of Mr. A of Bangalore, Karnataka, against the invoice – No. 456 dated 20/01/2018 to a unit of Mr. B at Kolar, Karnataka through vehicle number KA 02 AB 7542 covering a distance of 73 km has generated the eway bill no. 171000006745 dated 20/01/2018

Suppose the vehicle breaks down during the journey on 20/01/2018 afternoon and Sans Transports arranges alternate vehicle bearing registration number KA 43 AB 2267 for the delivery of the consignment to the destination.

The draft SMS to be typed in by the operator at Sans Transporters will be :

“EWBV 171000006745 KA43AB2267 BRK”

This SMS needs to be sent to “ 9731979899 ” mobile number( officially registered for Karnataka users)

A message as follows is received as reply instantly if no errors:

“Vehicle details updated successfully and date is 20/01/2018”

Note: The eway bill cannot be updated with the vehicle details, If in case the validity of the eway bill expires eg. one day in case distance covered is less than 100 km.

• Cancel E-way bill:-

The format of SMS request is as follows:

EWBC EWB_NO

Send this SMS to the registered mobile number of the State from which you are operating. Eg: 97319 79899 in Karnataka

Illustration:

M.r A of Bangalore, Karnataka wants to cancel the e-way bill generated by him bearing number 160056750192.

The draft SMS to be typed in by Mr. A will be :

“ EWBC 160056750192 ”

This SMS needs to be sent to “ 9731979899 ” mobile number( officially registered for Karnataka users)

A message as follows is received as reply instantly if no errors:

“ e-way bill is canceled successfully ”

Errors are sent to the user as reply messages automatically.

For example: “This e-way Bill is not generated by your GSTIN” and so on. Then make the necessary correction in the SMS and resend.

Note the following:-

1. Cancellation is allowed only for a generator of the E-Way Bill
2. Cancellation is allowed with 24 hours of generation of E-Way Bill
3. The verified e-waybill cannot be canceled

E-way bill is an electronically produced archive obligatory, to be conveyed for development of merchandise crosswise over India. It is essential for the development of merchandise worth more than Rs. 50,000 with a few exemptions.

A novel E-way Bill number (EBN) would be created for each such dispatch to be transported. The legitimacy of this EBN relies upon the separation of transportation of merchandise.


To implement this standard, approved officers might be told to capture any vehicle at certain check posts for the confirmation of essential reports. Also, a physical confirmation of the vehicle might be completed on getting particular sources of info with respect to tax avoidance.
This article covers:- 

1. Consequences of not conveying E-way bill


The outcomes of not producing and conveying the EWay bill can result in both fiscal and non-money related misfortunes to the citizen. goods being moved in the contradiction of Law are obligated for:-

• Goods are Transported without E-way Bill 

Moving products without the front of a receipt and E-way bill comprises an offense and pulls in a Penalty is:-

1.  ₹10,000 or the duty tried to be evaded (whichever is more). 
2. The absolute minimum punishment that is exacted for not consenting the guidelines is Rs. 10,000. 

• Detention and Seizure:- 

If the Goods are transported without GST and Goods are Detention and Seizure:-

1.  If the proprietor wishes to pay the punishment, he should pay 100% of the duty payable. 
2. If not, the punishment will be equivalent to half of the estimation of products.

Aside from the legitimate results made reference to above, it is likewise vital to take note of that the vehicle, and also the merchandise of the citizen, can be kept. This would imply that the citizen's store network would get influenced because of the long deferrals at the check posts.

• GST E-WAY Bill is a document which is generated by the person for the movement of goods where value exceed ₹50,000 whether or not a supply.

• Value of consignment says that the price mention in the invoice/Challan and shall include the Taxes in the of CGST/SGST/IGST/ as well. it excludes the Exempted goods which are included in the taxable goods

• It includes detailed about the sender, receiver, transporter if having.

A client needs to register on the basic entry of e-Way Bills before he can begin utilizing the administrations.
E-Way Bills can be produced in various ways. GSTN has given after modes to creating e-Way Bills:

1. Online: Anyone can log in to the e-Way Bill entrance as the client or sub-client by and large and Click on 'Generate new' alternative under the principle tab 'e-way Bill' showing up on the left-hand side of the dashboard

2. Via SMS: An extremely advantageous in a hurried choice for producing e-Way Bills have been presented under GST. Utilize this mode now and again of crisis

3. Use Bulk-age generation: device to create numerous e-Way Bills by a solitary transfer of JSON record. This office might be utilized by expansive corporates having a lot of relegations to be conveyed.