These rules may be called the Companies (Compromises, Arrangements, and Amalgamations) Rules, 2016 applicable from 15th December 2016.
Among 141 participating countries, India ranked 81st on the Global Innovation Index in 2015. This year, India’s ranking improved to 66th.This is all thanks to the developments India has been making. The latest such development is demonetisation. It has increased the countrys dependence on digital payment processes.
First of all, one need to understand the definition of Job work under Revised GST law . After that it will be easier to understand the provision relating to supply of goods to job worker.
A list of exclusions has been provided wherein it is specified that the credit shall not be available for motor vehicles and other conveyances except when used for making taxable supplies like supply of such conveyances, transportation of passengers, imparting training or driving or for transportation of goods.
The MCA came through Notification dated 5th September, 2016 effective from 7th September, 2016 rules for IEPF such rules called Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Rules, 2016.
It is brought to the notice of tax payers that any instance coming to the notice of Income-tax Department which reflects manipulation in the amount of income, cash-in-hand, profits etc. and fudging of accounts may necessitate scrutiny of such cases so as to ascertain the correct income of the year and may also attract penalty/prosecution in appropriate cases as per provision of law.
Presently, cleaning the system from black money and corruption is very high on my agenda. This comes closely after digitisation and introduction of GST.
FM Said that Demonetisation is actually a step in the direction of less cash economy. It’s our strategy that from high cash dominated economy we should become a less cash economy where the amount of paper currency comes down. Cash will still exist and there would be a greater digitisation.
The Congress Party has made a wild allegation of corruption in the NEEPCO under Kameng Hydro Power Projects in Arunachal Pradesh.
Following information/documents should be readily available by existing tax payer to enrol with GST Portal i. Provisional ID received from State/Central Authorities; ii. Password received from the State/Central Authorities; iii. Valid Email Address; iv. Valid Mobile Number; v. Bank Account Details vi. Copy of Registration Certificate in any law (RC)
