"15 April 2017" Archive

Issue and solution to challan paid details but not updating on MVAT draft return

I have noticed many of us facing the issue of not reflecting challan details or amount paid details in the Mvat draft return for VAT, CST, PT and luxury tax return filling for April 2016 onwards....

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GST: E-way bills- Another addition to Compliance Burden

The Honorable President of India has already given his assent to four supporting legislations on GST i.e. CGST, IGST, UTGST and Compensation Cess after getting it passed by both the houses of parliament paving the way of rollout of GST from 1st July 2017....

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Amendments to MVAT Act, SCPT Act, PT Act, ET Rules in Maharashtra

Maharashtra Act No. XXXI OF 2017 (15/04/2017)

In pursuance of clause (3) of article 348 of the Constitution of India, the following translation in English of the Maharashtra Tax Laws (Levy, Amendment and Validation) Act, 2017 (Mah. Act No. XXXI of 2017), is hereby published under the authority of the Governor....

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E-Way Bill: A new concept for Transportation of Goods in GST regime

GST rule on E-Way requires furnishing of information relating to any goods worth more than Rs. 50,000 whether they intend to move within the state or Inter-state. ...

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Insurance Companies – “Un-bundling of deposits” as per Ind-As/ IFRS

As per MCA notification, Insurance Companies are required to transit their financial statements into Ind-As starting from April 2018 with previous period comparatives. Since everyone is waiting for a comprehensive accounting standards i.e. IFRS-17 (which will eventually replace the existing IFRS-4/ Ind-As 104) which is likely to be issued...

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Brief note on Patent application in India

Patent is an exclusive right granted to a person by the Indian Patent office for an invention. Following Persons can apply for patent registration-(True and First)...

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Hiring of internal auditors for MSTC limited for financial year 2017-18 

Tender Document For Hiring Of Internal Auditors For MSTC Limited For The Financial Year 2017-18.Schedule of Tender, NIT, Eligibility Criteria/Evaluation Criteria, Terms and Conditions, Tender Submission, etc is given below...

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Engagement of professional for implementation of GST for MSTC limited

Tender Document For Engagement Of Professional Consultant For Implementation Of Goods & Services Tax (GST) with MSTC LIMITED. Schedule of Tender, NIT, Eligibility Criteria/Evaluation Criteria, Terms and Conditions, Tender Submission, Payment Terms, etc are given below...

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Applicability of taxes under GST regime

Soon before the roll out of GST, the most important concept to understand: 1. Place of supply of goods/ services; and 2. Time of supply of goods/ services Before proceeding with the above concepts, lets understand when the CGST, SGST & IGST will be levied....

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TDS defaults when amount is Payable to a Resident

In my earlier article I have made a discussion about the disallowance when the amount is payable to a non-resident /foreign company but TDS is not deducted by the payer . Section 40(a)(ia) deals with the situation when the amount is payable to a resident . Hereon also we will discuss the complete scenario in parts to have a better underst...

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