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Archive: 15 November 2016

Posts in 15 November 2016

How to avail benefit of Deferred payment of Customs duty

November 15, 2016 9343 Views 1 comment Print

Option of deferred payment has been extended only to AEO (Tier-Two) and AEO (Tier-Three) and they shall obtain ICEGATE Login which is essential to avail benefits envisaged in AEO Programme.

Open letter to AAJ Tak seeking apology for derogatory addressal of CA Community

November 15, 2016 22531 Views 144 comments Print

Dear Aaj Tak Team, You did a great job by conducting a successful sting operation of some CA’s converting the black money to white. But the painful thing was the word CA used so many times in a way as if the entire CA community is engaged in this black to white transaction.

Reg. Group Assessment & Peer Review before Assessment

November 15, 2016 3283 Views 0 comment Print

Reconstitution of Committee to study the feasibility of the recommendations regarding Group Assessment and System of Peer Review Before Assessment

Need To Have A Policy of One Person – One Bank Account

November 15, 2016 13540 Views 33 comments Print

Presently, in our country, there is no limit on number of accounts which a person / entity can have with banks / Post Offices. A person / entity can open, keep and operate numerous saving accounts, current accounts and many other type of deposit accounts in various branches of one or more banks and in post offices (P.O.s) .

Notification No. 137/2016-Customs (N.T.) Dated: 15.11.2016

November 15, 2016 2311 Views 0 comment Print

Notification No. 137/2016-Customs (N.T.)-Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seeds, Areca Nut, Gold and Sliver

Online services – Foreign Businesses under Service Tax Net

November 15, 2016 6715 Views 2 comments Print

With effect from December 1, 2016 the taxability of Online Information and Database Access or Retrieval (‘OIDAR’) services shall undergo a complete change.

200% penalty on unaccounted cash deposited in Bank Account

November 15, 2016 14830 Views 6 comments Print

In this article, possibility for levy of penalty U/s. 270A of the Income Tax Act has been analysed in case where a person deposits his unaccounted cash in bank account and paid due tax thereon in return of income for AY 2017-18.

Powers of assessment under GST – contentious issue

November 15, 2016 6088 Views 0 comment Print

Under no circumstances taxable person shall be subjected to assessment by both Central and State Governments. This will relieve taxable persons having multi state activities of being assessed by different states.

Entry Tax in lieu of CESS on GST ?

November 15, 2016 3256 Views 4 comments Print

Can SC judgement be used as a tool to impose entry tax by Government on same lines as CST or as stick to traders to make them agree to proposed CESS on GST?

Demonetisation- Ensure Strict Compliance – RBI to Cooperative Banks

November 15, 2016 3616 Views 0 comment Print

There were reports that some cooperative banks were not strictly adhering to the instructions issued in connection with the withdrawal of legal tender status of the existing ₹ 500 and ₹ 1000 bank notes (specified bank notes).

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