"29 March 2017" Archive

Govt asks industry to work for July 1 roll out of GST

India Inc should work for the July 1 roll out of the Goods and Services Tax , which would take the country into very exciting phase of tax administration, Finance Secretary Mr Ashok Lavasa said at an ASSOCHAM Managing Committee meeting in New Delhi today. ...

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Posted Under: Income Tax |

Amendments to MVAT Schedule with effect from 1st April 2017

Notification No. No. VAT-1517/C.R.28/Taxation-1 (29/03/2017)

Government of Maharashtra hereby with effect from the 1st April 2017, amends the SCHEDULES 'A', 'C' and 'D' appended to the said. Act, namely :—8A Card swipe machines for merchant transactions. :- Nil%...

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SEBI (Payment of Fees and Mode of Payment) (Amendment) Regulations, 2017

Notification No. No. SEBI/LAD-NRO/GN/2016-17/038 (29/03/2017)

1. These Regulations may be called the Securities and Exchange Board of India (Payment of Fees and Mode of Payment) (Amendment) Regulations, 2017. 2. They shall come into force with retrospective effect from March 6, 2017:...

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Taxation of liquor-Notification u/s 41(5) of MVAT Act

Notification No. VAT-1517/C.R.28/Taxation-1 (29/03/2017)

Government of Maharashtra hereby, with effect from 1st April 2017, amends the Government Notification, Finance Department No. VAT-1511/C.R.-57/Taxation-1, dated the 30th April 2011 as follows, namely...

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Value of Goods obtained on job-work cannot be included into turnover to calculate SSI Limit

Hitachi K. K. Manufacturing Co. Vs Commissioner of Central Excise (CESTAT Kolkata)

Value of goods obtained on job-work basis cannot be included into turnover of appellants. By excluding this value items manufactured by appellants comes below limit prescribed for S.S.I. Exemption....

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Simplest procedure to register under GST for new assessee

Please find below the procedure for registration under GST. Before proceeding towards the procedural steps for registration under GST, lets go through its applicability:...

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Posted Under: Income Tax |

Why GST in India is Unique

France was the first country which introduced a comprehensive GST Regime in 1954. GST rates in various countries ranges from 5 per cent to 25 per cent. At present, GST has been adopted by more than 150 countries around the globe. ...

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Posted Under: Income Tax |

Agency Banks not to open for government business on 01.04.2017

Notification No. RBI/2016-17/259 DBR.No.Leg.BC.56/09.07.005/2016-17 (29/03/2017)

While the Agency Banks are to keep all their branches dealing with government business open on all days in the current financial year (including Saturday, Sunday and all holidays) as already advised, these branches need not be kept open on April 1, 2017....

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Exposure Draft of Annual Improvements to Ind AS Standards 2014-2016 Cycle

Exposure Draft of Annual Improvements to Ind AS Standards 2014-2016 Cycle, issued by Accounting Standards Board of ICAI, for comments....

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Posted Under: Income Tax |

Appendix B of Ind AS 21, Foreign Currency Transactions and Advance Consideration

Following is Exposure Draft of Appendix B of Ind AS 21, Foreign Currency Transaction and Advance Consideration, issued by Accounting Standards Board of the Institute of Chartered Accountants of India, for comments....

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Posted Under: Income Tax |
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