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Archive: 28 September 2016

Posts in 28 September 2016

Live Course on Appeal, Pleading & Drafting under GST by CA Sachin Jain

May 15, 2024 7341 Views 0 comment Print

oin us for an immersive live course led by renowned expert CA Sachin Jain, as we delve into the intricacies of appeal, pleading, and drafting under GST.

CBDT notifies backward districts in Andhra Pradesh U/s. 32 & 32AD

September 28, 2016 5593 Views 0 comment Print

In exercise of the powers conferred by section 32 and section 32AD of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies the following districts of the State of Andhra Pradesh as backward areas under the first proviso to clause (iia) of sub-section (1) of section 32 and sub-section (1) of section 32AD of the said Act, namely

Reg. manual debits on physical copy of Advance Authorizations registered at EDI Customs port

September 28, 2016 682 Views 0 comment Print

It was brought to Board’s notice that even for Advance Authorizations registered electronically at EDI Customs location i.e. where electronic ledger gets maintained, the physical authorizations, that are simultaneously issued and presented, are endorsed by Customs with manual debits of usage and this practice is not uniformly followed at all EDI ports of registration.

SEBI notifies List of Commodities under SCRA

September 28, 2016 3667 Views 0 comment Print

Pursuant to the repeal of the Forward Contracts (Regulation) Act, 1952 (FCRA) and amendment to the Securities Contracts (Regulation) Act, 1956 (SCRA), the Central Government, in exercise of the powers conferred by clause (bc) of section 2 of the SCRA and in consultation with the SEBI, have vide Notification No. S.O. 3068(E) dated September 27, 2016 notified the goods specified therein, for the purpose of clause (bc) of section 2 of the SCRA with effect from the date of the said notification.

SEBI permits Options in Commodity Derivatives Market

September 28, 2016 556 Views 0 comment Print

At present the only instrument available in the Commodity Derivatives market is futures on individual commodities. Introduction of new commodity derivatives products has been a subject of deliberation as it is considered to be conducive for the overall development of the commodity derivatives market, attracting broad base participation, enhancing liquidity, facilitating hedging and bringing in more depth to the commodity derivatives market.

Notification No. 47/2016-Central Excise (N.T.), Dated: 28.09.2016

September 28, 2016 3400 Views 0 comment Print

section 2 of the Central Excise Act, 1944 (I of 1944), read with sub-rule ( I) of rule 3 of the Central Excise Rules, 2002, the Central Board of Excise and Customs, hereby makes the following further amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue) No. 30/2014-Central Excise (N.T.) dated the 14th October, 2014, published in the Gazette of India, Extraordinary, vide number G.S.R. 724 (E) dated, the 14th October, 2014

Draft Format of GST Audit & ITC Mismatch Report released

September 28, 2016 12838 Views 0 comment Print

CBEC has released Format of FORM GST 9A i.e. format of Audit Report under Central/ State Goods and Services Tax Act, 2016 and Central/ State Goods and Services Tax Rules, 2016 and Format of FORM GST ITC – 1C i.e. Input Tax Credit Mismatch Reports for E-commerce Operators.

India climbs to 39th place in Global Competitiveness Index

September 28, 2016 961 Views 0 comment Print

India climbs steadily in the Global Competitiveness Index; Improves its ranking by 16 places for the second year in a row;. Now placed 39th among 138 countries, ahead of BRICS countries other than China.

IDS 2016 counters to remain open till 8 PM on 28 & 29th Sep, 2016

September 28, 2016 1033 Views 1 comment Print

In order to further facilitate the filing of declarations even after the office hours, the Pr. CCs.I.T are instructed to ensure that the counters for receiving the declarations under I.D.S., 2016 remain open till 8.00 P.M. on 28th and 29th September, 2016 in all jurisdictions.

Issue scrutiny notices for PAN selected in CASS by 30.09.2016

September 28, 2016 5143 Views 0 comment Print

It is seen that till 27-09-2016, notices have not been issued in 991 cases. These 991 cases include 80 cases which are lying with inactive codes. AO are requested to make arrangements for issue of notice u/s 143(2) well before the time barring date i.e. 30.09.2016.

IDS deceleration can be filed Manually in case PAN not allotted

September 28, 2016 1234 Views 0 comment Print

Concern was raised by field authorities that there can be few cases where the assessees may not have PAN but would like to file declaration under the Scheme towards the date of closure of the Scheme. In such cases, the assessee may not get PAN by the date of closure of the Scheme i.e. 30.09.2016

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