"25 April 2017" Archive

ICAI Proposes amendments to IFRS 8 and IAS 34

Exposure Draft issued by IASB on Improvements to IFRS 8 Operating Segments (Proposed amendments to IFRS 8 and IAS 34) is for comments only. Comments on the Exposure Draft need to be received by May 26, 2017....

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Posted Under: CA, CS, CMA |

Withdrawal of FAQs on Revised Schedule VI to Companies Act, 1956

CL&CGC/ 20/ 2017-2018 (25/04/2017)

ICAI withdraws Frequently Asked Questions on the Revised Schedule VI to the Companies Act, 1956 as issued by the Corporate Laws & Corporate Governance Committee in May, 2012....

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Posted Under: CA, CS, CMA |

Lets understand Goods and Services Tax (GST)

Constitution amended to provide concurrent powers to both Centre & States to levy GST (Centre to tax sale of goods and States to tax provision of services)...

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Posted Under: CA, CS, CMA |

All about Input Tax Credit under GST Act & Rules – PART I

As per Section 16 – Manner of taking input tax credit read with Input Tax Credit Rules – By Empowered Committee of State Finance Ministers June, 2016 1. Eligibility: – Every registered taxable person shall be entitled to take credit of input tax admissible to him (The said amount shall be credited to the electronic […...

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Posted Under: CA, CS, CMA |

Video- GST Conclave- GST Explained by Dr. Hasmukh Adhia

GST Conclave LIVE: Goods & Services Tax explained by Dr. Hasmukh Adhia, Revenue Secretary, Government of India during GST Conclave held in Delhi. Hasmukh Adhia explains what is GST and its key components in Hindi language....

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Posted Under: CA, CS, CMA |

Goods and Services Tax– What you must know

GST is a win-win situation for the entire country. It brings benefits to all the stakeholders of industry, government and the consumer. It will lower the cost of goods and services, give a boost to the economy and make the products and services globally competitive. ...

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Assesse must satisfy the appellate authority that ground now raised was bona fide and could not have been raised earlier for good reasons

M/s. Ultratech Cement Ltd. Vs Additional Commissioner of  Income Tax (Bombay High Court)

We note that it is an undisputed position before us that for the subject assessment year, the appellant assessee had not claimed benefit of Section 80IA of the Act in respect of its Jetty / Port either before the Assessing Officer or before the CIT(A)....

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Purchase cannot be termed bogus for mere non-appearance of supplier

M/s Beauty Tax Vs DCIT, ((ITAT Jaipur)

Merely non-appearance of the supplier in absence of any other corroborate evidence cannot be a basis to justify the stand of the Revenue that the transaction of purchase is bogus. ...

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Service Tax Return filing due date extended to 30th April 2017

Order No. 1/2017-Service Tax (25/04/2017)

CBEC hereby extends the date of submission of the Form ST-3 for the period from 1St October 2016 to 31st March 2017, from 25th April, 2017 to 30th April. 2017....

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Impact of GST on Textile Sector

Goods and Services Tax (GST) is a proposed system of indirect taxation in India merging around 17 existing taxes into single system of taxation. It was introduced as The Constitution (One Hundred and First Amendment) Act 2016. ...

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Posted Under: CA, CS, CMA |
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