"11 January 2017" Archive

GST, Budget and Expectations

While the Government still claims that it is actively working to see GST roll out from April, 2017, much would depend upon next week's GST Council meeting. States have indicated that it could be doable from any time between June and September, 2017....

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Amendment in Chapter 2 of Handbook of Procedure (2015-20)

Public Notice No. 54/(2015-2020) (11/01/2017)

In exercise of powers conferred under paragraph 2.04 of the Foreign Trade Policy, 2015- 2020, the Director General of Foreign Trade hereby amends para 2.14(A) of the Handbook of Procedure (2015-20) as well as the provision in the Public Notice No.58 dated 1.2.2016 and Appendix 2K of FTP(2015-20) as under:...

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Summary of Cicular on Pradhan Mantri Garib Kalyan Yojna, 2016

The CBDT vide Circular No.43 of 2016 dated 27.12.2016 issued explanatory notes on provisions of the taxation and investment regime for Pradhan Mantri Garib Kalyan Yojna, 2016 as contained in Chapter IX-A of the Finance Act, 2016. The summary of the same is given below....

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How safe are your mutual fund investments?

As an investor, we invest money with the primary objective of making positive returns through them. Mutual funds are one of the most popular investment vehicles across the globe. It is so very lucrative that it has the magnetic effect of luring more and more investors....

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Analysis of Some Definitions in CGST/SGST

AGGREGATE TURNOVER Section 2(6)- aggregate turnover means the aggregate value of all:- i. taxable and non-taxable supplies, ii. exempt supplies and iii. exports of goods and/or services of a person, Having the same PAN, to be computed on all India basis...

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Impact of GST on Electronic Commerce

Electronic commerce in general parlance is defined as commercial transactions conducted electronically. As simple as it may seem in this definition, electronic commerce began traditionally as online retail in the stock-and-sell model, but has now transformed the entire way of doing business...

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Maharashtra VAT Audit due dated extended to 9th February 2017

Trade Circular No. 3T of 2017 (11/01/2017)

Section 61(1) of the Maharashtra Value Added Tax Act, 2002 provides that all eligible dealers shall submit the Audit Report in Form- 704. As provided under rule 17A (1) of the Maharashtra Value Added Tax Rules, 2005, this form is to be uploaded electronically....

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Post Assessment– Revision u/s 263/264 Proceedings module of ITBA

ITBA-Revision Instruction No.1 (11/01/2017)

Relevant users will need their individual name based department email IDs and RSA tokens. The username and passwords will be communicated on their respective email ID. The log in to the system will be through the username and password (sent on individual email ID) along with the RSA token over the Taxnet nodes. Users are advised to contac...

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Depreciation on Assets held under lease in the nature of Purchase

CIT Vs M/s Bhushan Steels & Strips Ltd. (Delhi High Court)

Whether the assessee is entitled to depreciation under Section 32 of the Income Tax Act even when the assessee was not the owner of the property in question and was in possession thereof as a lessee during the year under consideration?...

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EPFO: Do not being political influence in service Matters

Instruction No.HRM-I/Misc./2017/26043 (11/01/2017)

Prohibition on bringing any political or outside influence by serving employees or by their close relatives in respect of service matters...

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