"07 July 2017" Archive

Classification of Printed Workbooks, Exercise books etc. under erstwhile CETA 1985-reg.

Circular No. 1057/06/2017-Excise Duty (07/07/2017)

Representations have been received from the members of the trade requesting clarification regarding classification of printed workbooks, exercise books, children’s drawing book etc. The issue raised in these representations is whether the aforesaid goods are classifiable under Chapter 48 or Chapter 49 of the erstwhile Central Excise Tar...

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TDS U/s. 51 of GST Act, 2017 & procedure to be followed by Govt. agencies

Trade Circular No. 27T of 2017 (07/07/2017)

The section 51 of the CGST and MGST Act provides that every department or establishment of the Central Government or the State Government or local authority, or Government Agencies to Deduct Tax at Source ...

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7th CPC- Major Highlights of Allowances approved by Union Cabinet

The Central Government’s decision on recommendations of the 7th Central Pay Commission (CPC) on Allowances published in Gazette of India yesterday i.e. 6th July, 2017; All allowances are given effect from 1st July 2017; Concerned Ministries advised to issue their Orders on Allowances governed by them immediately so that the revised rate...

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Posted Under: Excise Duty |

Income Tax Manual Scrutiny Criteria for financial year 2017-2018

Instruction No. 05/2017-Income Tax (07/07/2017)

CBDT hereby lays down the following procedure and criteria for compulsory manual selection of returns/cases requiring scrutiny during the financial-year 2017-2018:-...

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eNodeB used in cellular networks classifiable under CTH 8517 6290

Instruction No. 08/2017-Customs (07/07/2017)

Board has received references regarding the classification of eNodeB which is an LTE equipment used in wireless or cellular networks. A doubt has been expressed whether the said goods are classifiable under CTH 8517 6100 or CTH 8517 6290....

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No increase in Tax on education in GST

There is no change made in any subject relating to education in the GST era, except to reduce tax rate on certain items of education such as school bags etc.; Denies the reports that education will become expensive under GST; Rather services provided by an educational institution to students, faculty and staff are exempt. ...

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Posted Under: Excise Duty |

Distribution of GST Provisional Id and Access Token of Phase 7 dealers

Trade Circular No. 28T of 2017 (07/07/2017)

Provisional Ids and Access Token of Phase 7 dealers, are now made available by GSTN Dealer can obtain their Provisional Ids from department's portal www.mahavat.gov.in, using their login credentials. The list of all such dealers is published under "What's New" Section on MSTD's portal. For Phase 7, dealers registered up to 30-06-2017, RC ...

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What to check while buying a Fixed Deposit?

People always hesitate when it comes to investments. Investments are often considered risky which makes people rethink about it. Most of the investment options are depended upon the market conditions. This is the reason why they are considered as high-risk investments. If market conditions go down one can also face a loss whereas if the [...

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Posted Under: Excise Duty |

6 critical factors those decide whether the life insurance claim is accepted or rejected

How many times have you asked yourself Will the insurance company for which I am paying premiums regularly will settle the claims or reject the claims in case of any mishappening to me? Will my family get the claim benefits or not?...

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Posted Under: Excise Duty |

Place of Supply of Goods and Service in IGST law

Supply has been elaborated in IGST law whether the supply is interstate supply or Intra- State supply. This is important aspect of GST because if the supply is Intra- State, then CGST and SGST will be attracted otherwise if the supply is Inter State then IGST will be levied. ...

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Posted Under: Excise Duty |
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