When, the Income Disclosure scheme,2016 under the domain of Ministry of Finance began it swiftly became clear that the government is in serious business of tackling the black money within the boundaries of sovereign INDIA.
1. As per the order/ notification dated 09.08.2001, issued by the Government of Maharashtra, Department of Co-operative, specifying new premium rates to be paid while transferring flats/units in Co-operative Housing Societies. The new rates have been fixed in the general body meeting and the rates should not exceed the rates specified by the State of Government of Maharashtra.
Because of GST there will be extreme changes in Taxation in our country. All the indirect taxes will come on equal platform. As everywhere movement in GST is seen, it is expected that GST will come soon. Understanding various concepts of GST is very important. We go at many place and see Ganpatis and different views, like that today we will see different views of GST.
Just like the setting of the sun, economic hiccups too are an inevitable activity. It is a temporary yet bound to occur activity. Nevertheless, experiencing recession does not at all signify that we have to participate and get affected by its harmful effects. You can recession-proof your investments.
For the Auto industry , the implementation of GST would result in manufacturers paying lower taxes which will ultimately benefit end customers.GST is going to replace as many as 17 indirect central and state tax levies. This will result into reducing compliance burden for automobile industry.
High court held that assessment proceedings to be invalid against the assessee in those cases where the assessee ceased to have legal existence on account of amalgamation with another entity on a date even prior to search. Because when the assessee ceased to have existence even on the date of search, no notice as a result of search can be issued in its name.
In exercise of the powers conferred by sub-section (2) of section 1 of the Constitution (One Hundred and First Amendment) Act, 2016, the Central Government hereby appoints the 12th day of September, 2016 as the date on which the provisions of section 12 of the said Act shall come into force.
As all of us are aware of the fact government is going to implement GST from 1st April, 2017 and Govt officials are running hard against time to meet the deadlines, So being Professionals, we should also brace ourselves to face GST Implementation.
Summary iof Form Name, Applicable rule & Section, Old Form No., Purpose of New form and Due Date for filing the form under recently notified Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Rules, 2016.
IFRS is based more on principles when compared with US GAAP which is more rule based standard. One of the reasons for convergence to IFRS is the need for a business to present its financial statements on the same basis as its foreign competitors in order to make comparisons easier.
