Union minister: Over 68,000 companies registered in 8 months post GST

Union minister: Over 68,000 companies registered in 8 months post GST
Union minister: Over 68,000 companies registered in 8 months post GST

P P Chaudhary is the Union minister. He said that after the implementation of Goods and Service Tax (GST) scheme, more than 68,000 companies have been registered in 8 months. GST which was the largest tax was revolving from 1st, July 2017.

The minister of the state for corporate affairs given written reply by saying that the total number of companies registered during the time from July 2017 to February 2017 is 68,000 in Lok Sabha. The Union minister also said that the number of such entities was 63, 106 between 2016 July and February 2017. Therefore, increasing trend in the number of the companies registration has been maintained support GST.

P P Chaudhary replied that above 17.21 lakh companies had been registered in India till last year, apart from which only 7, 270 begins were active in December 2017 while there were 7,261 companies active in December 2014 out of 14.39 lakh registered companies in India.

Further, the ministry has recorded execution against 780 listed companies due to non-filing of financial statement and annual returns. He added that the names of more than 2.26 lakh companies have been affected off from the Registrar of companies for failing to conform to regulatory demands as on December 2017, with Maharashtra considering for largest of these companies.

Registrar of Companies (ROCs) determined 2.97 lakh companies during 2017-18 which were not filing their financial statements or annual returns for a continuous time for two or more taxes and prima face, were not directing any business in the process.

Outside of the total deregistration companies, as many as 59, 849 companies are from Maharashtra followed by Delhi – 43, 925, Tamil Nadu – 24, 723. Karnataka – 18, 165, Telangana – 16, 817, and Gujarat – 11, 389.

Moreover, the minister said that as many as 48, 886 performance against the companies for neglect Companies Act, was expected as on January 2017 with the different courts. These have been registered by ROCs.

There are 4,775 fresh execution cases were filed in 2016-17 till November 2017. So, Out of total 51, 661 cases, a total of 4, 703 execution were disposed of 46, 958 execution were expected.

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She is the Technical Advisor as well as content Writer at mylifejobs . she provides all the essential information related to blogs. She covers all the news related to GST (Good Service Tax). She is a traveler, explorer and tech lover. Also, she does the research work. Her interest includes writing, playing sports, reading and traveling to new and adventurous places. She loves technology a lot. Whenever a new mobile is launched, she will buy it.