Hi Folks
There are so many ‘Days’ nowadays that a normal day with no special significance attached to it seems really special. April 15th was one such for a group of us. My brother had sent out an innocuous lunch invite to all of us a week before, but with a strange instruction – come in old clothes & then change to new ones for the photo session. Puzzling ? yes, it was until all of us trooped in to his place on the 15th, a Sunday, in casuals / old clothes. A very different ambience welcomed us …….there were about 10 tables with 5 chairs for each so that a group could sit. On each table was an arecanut disposable plate with 3 different varieties of seeds in it. Another plate was empty. Each group was named after a local river and balloons were tied to strings on top of each group. Little ones were the eager cheer leaders & volunteers for some unique activity. My talented niece was the enthusiastic compere for the event giving us instructions, introducing each group, tracking the achievements, encouraging us into singing film songs etc. What was the event ?
It was ‘seed ball making’ as a fun-filled group activity. Each group got clay & compost mixed together as a sticky mound on the empty plate. We had to make small round balls from this mix, insert the seeds in it, close it and put it away. Whoever did it fastest got some prizes too. After every 100 balls, one of the kids would stand on the chair and burst a balloon announcing the score. In all about 5000-6000 seed balls were made in about 2 hours thanks to people ‘dirtying’ their hands for a good cause ! There was lot of fun, excitement, songs, chatter, catching up, occasional claims and counter claims about which group completed how many and of course the laggards who walked in only for the photo-op. There were so many hands at work that my brother who had organised this entire event soon ran out of the clay mix. He and a few others were busy preparing the mix as raw material for the groups and spreading the finished balls to dry. Dried Seed balls are normally scattered in open areas or forests so that they germinate naturally without any tilling of the soil. In all, it was a great feeling to be part of this unique exercise which brought many of us together after a long time for an environmental cause. Of course a sumptuous 100% millet-meal followed which was again a ‘hatke’ (out of the box) aspect of the get together.
Seeds balls are an ancient technique for propagating plants from seeds without opening up soil with cultivation tools such as a plow. The rediscovery and popularization of seedballs (or “Clay Dumplings” as he called them) in modern times is typically ascribed to Japanese natural farmer and philosopher Masanobu Fukuoka. Next time you have an event, try to include ‘seed ball making’ as part of it since people of all age groups can participate. Looking back, little did we realise that exactly 1 week before Earth Day (April 22nd) we had in our own small way celebrated it – we had felt Mother Earth in our own hands, patted her, rounded her and seeded her for our future.
While seed ball making was a learning of a different kind, keeping track of the regulatory changes is another. Our fortnightly publication “Samhita” helps us do it as we delve into various notifications and circulars after scanning ministry websites. Hope you find it equally informative and useful.
For our earlier issues do visit the Resource Centre at

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To facilitate monitoring of IPAs’ performance and compliance of statutory requirements, and in the interest of transparency and accountability, the Insolvency and Bankruptcy Board of India (IBBI), in consultation with IPAs, has devised the format of Annual Compliance Certificate to be submitted to the IBBI and to be displayed on website within 45 days of the closure of the financial year.
The first Compliance Certificate is due by IPAs by 15th May, 2018.
The IBBI, has prescribed the entire procedure to be followed in connection with the disciplinary actions against the IP under the Insolvency and Bankruptcy Code, 2016. An IP may be appointed as Interim Resolution Professional, Resolution Professional, Liquidator or a Bankruptcy Trustee only if no disciplinary proceeding is pending against him. It is clarified that issue of show cause notice to an IP is deemed to be a pending disciplinary proceeding, which disqualifies him for taking up any role under the IBC.
Onetime condonation time period w.r.t block-wise extension, Export Obligation Period extension and delay in submission of installation certificate under Export Promotion Capital Goods (EPCG) Scheme is extended till 30th September, 2018.

The CGST (Fourth Amendment) Rules, 2018 has been published:
  • ➢ In the case of refund on account of inverted duty structure, refund of input tax credit shall be granted as per the following formula:
  • Maximum Refund Amount = {(Turnover of inverted rated supply of goods and services) x Net ITC ÷ Adjusted Total Turnover} – tax payable on such inverted rated supply of goods and services.
  • Amendment to Form GST ITC-03: Under the CGST Act, tax is required to be paid in respect of inputs held in stock including capital goods when a registered person opts to pay tax under composition or where the goods / services become exempt from tax. Form GST ITC-03 has been amended to state that the value of the capital goods to be declared in the form shall be the invoice value reduced by 1/60th per month or part thereof from the date of invoice.
  • Final return notified: Every registered person required to furnish a final return, shall furnish such return electronically in FORM GSTR-10 through the common portal either directly or through a Facilitation Centre notified by the Commissioner. This form has been notified.
The last date for filing of AOC-4 XBRL E-Forms using Ind AS under the Companies Act, 2013, has been extended up to 31st May, 2018 without additional fees for the FY 2016-17.
CS Ratnamala Hegde has come up with a simplified checklist covering the FDI compliances under FEMA and insights from practical experience.

Note: The contents of this Newsletter are only a summary and has not dealt with any issue in detail. Any action taken or proposed to be taken must be in consultation with professionals and not merely based on the articles / news updates. S. C. Sharada & Associates disclaims all liability on action taken without professional advice.

S. C. Sharada & Associates, Company Secretaries. #405, 7th Cross, IV Block, Koramangala, Bangalore – 560 034 Phone : +91 80 25534374 , +91 80 25536618 Email: [email protected]

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