"06 June 2017" Archive

24 States passes State GST (SGST) Act While 7 yet to pass

Just 3 days to Join GST Online Certification Course by GST Professionals & TaxGuru.in – Batch II 24 States pass the State GST (SGST) Act While 7 States viz. Meghalaya,Punjab,Tamil Nadu, Kerala, Karnataka, Jammu & Kashmir and West Bengal have yet to pass the SGST Act. Twenty Four (24) States have passed the State GST […]...

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GST Facilitation Cell for smooth roll-out of GST WEF 1st July, 2017

Cabinet Secretary asks the different Ministries/Departments and Public Sector Undertakings (PSUs) under these Ministries to set-up and activate a GST Facilitation Cell to provide all possible support to the business and industry sector for the smooth roll-out of GST with effect from 1st July, 2017....

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Target date of GST implementation is 1st July, 2017 only

F.No. II/39-22/GST Misc./CCO/MCX-I/2017 (06/06/2017)

In all interactions with Trade Industry and general public, it should be clearly indicated by officers at all levels that the target date of implementation is 1st July, 2017 only, and the implementation of this big reform will not be deferred beyond this date. Any speculation in any quarters regarding deferment or implementation date shou...

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How to Prepare Invoice under GST (Hindi)

मान लीजिये बाकी सभी जी.एस.टी. से जुडी प्रक्रियाओं के लिए तो आपको समय मिल जाएगा लेकिन 1 जुलाई 2017 को ज्यों ही आप अपने व्यवसाय स्थल पर पह...

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Classification of Dioctyl Orthophthalate (DEPH) — Reg.

Instruction No. 07/2017-Customs (06/06/2017)

References have been received in the Board from field and Trade regarding the correct classification of Dioctyl orthophthalate (DEPH). A doubt has been expressed whether the said goods are classifiable under tariff item 2917 32 00 - - Dioctyl orthophathalate' or under tariff item 2917 39 20 - - - Dioctyl phthalate....

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U S Taxation – Questions Green card holders or U S Citizens wanted to ask from India

1. What are my responsibilities as a green card holder if I have been absent from the United States for a long period of time? 2. I was a long-term resident of the United States prior to surrendering my green card. What is my U.S. tax filing obligation?...

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Value Added Tax (VAT) in France – A lively discussion

The areas covered under VAT in France includes continental France, Corsica, the Principality of Monaco, territorial waters, the continental shelf and the départements of Guadeloupe, Martinique and La Réunion. ...

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Company with extraordinary events cannot be considered as comparable

Cummins Turbo Technologies Ltd. Vs DCIT (ITAT Pune)

ITAT held that on account of extra ordinary events viz. acquisition of IQ group of companies and amalgamation of Accentia Infoserve Pvt. Ltd with Accentia Technologies Ltd, the said company cannot be considered as good comparable. ...

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Bogus capital gain: Mere Sec. 131 Statement not sufficient for addition

Kamla Devi S. Doshi Vs ITO (ITAT Mumbai)

We would not hesitate to observe that the lower authorities which have hushed through the facts to arrive at a conclusion on the basis of principle of preponderance of human probability, had however absolutely failed to appreciate that the said principle could have been validly applied only on the basis of a considerate view as regards th...

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Gain / Loss from Share PMS Account is Capital loss /Gain

Smt. Shonaben Jayesh Parikh Vs ACIT (ITAT Ahmedabad)

In this case, assessee gave her funds to the PMS Manager as in investment and there is no involvement of assessee in day to day transaction of the funds. The result of profit and loss in the end of the year from PMS Account is a capital loss. ...

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