"04 July 2017" Archive

Problem of registration of GST Tax Practitioner-Solution

A few cases have been brought to our notice where registration or enrollment was done by a Tax Practitioner. It was found that the data of one taxpayer is getting displayed in that of another taxpayer handled by the same Practitioner....

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Impact of GST on unsold stock of pre-packaged commodities -reg.

WM-10(31)/2017 (04/07/2017)

The undersigned is directed to refer to the above mentioned subject and to state that in exercise of the powers conferred by rule 33(1) of the Legal Metrology (Packaged Commodities) Rules, 2011, the Central Government hereby permits the manufacturers or packers or importers of pre-packaged commodities to declare the changed retail sale pr...

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On GST rate for specified items for Physically Challenged Persons

Some questions are raised about GST rates fixed for specific devices for physically challenged persons. This matter is explained here in below. Assistive devices and rehabilitation aids for physically challenged persons, listed below, have been kept at the concessional 5% GST rate: 1) Braille writers and braille writing instruments; 2) Ha...

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Order No. 113 of 2017- Transfer & Postings CIT/ DIT Grade

Order No. 113 of 2017 (04/07/2017)

Order No. 113 of 2017 The following postings / transfers in the grade of Commissioner of Income Tax are, hereby, ordered with immediate effect and until further orders:-...

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Record inflation augurs perfectly well for GST launch: ASSOCHAM

New Delhi, 1 July, 2017: With retail prices growing by the slowest pace in the last four years by mere 2.18 per cent, it is the perfect time for the launch of the Goods and Services Tax (GST), from inflation point of view, as this particular macro fundamental is placed at an ideal position for the roll out of the country’s most ambitiou...

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ICSI extends last date of payment of Annual Subscription for Licentiate

The payment of Licentiate Subscription for the year 2017-18 became due for payment w.e.f. 1 st April, 2017. The last date for payment of the same was 30th June, 2017 which has now been extended upto 31 st August, 2017. The annual Licentiate subscription payable is Rs.1,000/- per year....

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ICSI extends last date for payment of annual membership & COP fee

The annual membership fee and certificate of practice fee for the year 2017-2018 has become due for payment w.e.f. 1st April, 2017. The last date for the payment of fee was 30th June, 2017 which has now been extended upto 31st August, 2017....

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Revised Limit for Investments by FPIs in Govt Securities for July – September 2017

Circular No. IMD/FPIC/CIR/P/2017/74-SEBI (04/07/2017)

RBI in its Fourth Bi-monthly Policy Statement for the year 2015-16, dated September 29, 2015 had announced a Medium Term Framework (MTF) for FPI limits in Government securities in consultation with the Government of India....

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Handholding of taxpayers in GST Sewa Kendras post roll out of GST – Regarding

D.O. No. DPIPUB/130/17 (04/07/2017)

With the roll out of GST from 1st July, 2017, a new era in Indirect Tax Administration has been ushered in. The next important step is to handhold the taxpayers and other stakeholders into this new regime. In this regard, the role of the field formations of CBEC is crucial in facilitating taxpayers....

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Cash Transactions – Latest clarification by CBDT

To put restriction on the cash transactions & promote digital economy, a new section 269ST has been inserted in the Income-tax Act, 1961 vide Finance Act, 2017. * Section 269ST – In Brief: The said section, prohibits receipt of an amount of ` 2 lakh or more by a person, Circumstances — In aggregate from […]...

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