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Archive: January, 2017

Posts in January, 2017

Law Commission denies hiring of Law Firms

January 13, 2017 1669 Views 0 comment Print

The Law Commission of India has noted that certain newspapers and e-magazines are carrying news items which suggest the commission is hiring law firms to pursue the work assigned to it.

GST Migration under Central Excise & Service Tax Provisions & Process

January 13, 2017 23617 Views 4 comments Print

Every person registered under any of the earlier laws and having a valid PAN shall be issued a certificate of registration on a provisional basis in such form and manner as may be prescribed.

Expense on improvement of leased building not allowable U/s. 37(1) but depreciation can be claimed on the same

January 13, 2017 11151 Views 0 comment Print

Business of the assessee is carried on in the leased property and any expenditure is incurred on the construction of any structure by way of renovation, extension or improvement, then, section 32 will apply and accordingly, the assessee can claim depreciation on the value spent on such improvement or changes in the structure.

Changes in All Industry Rates of Duty Drawback effective from 15.01.2017

January 13, 2017 2857 Views 0 comment Print

Government considered representations, feedback and data related to the All Industry Rates (AIR) of Duty Drawback that took effect on 15.11.2016

Grant of Registration under DVAT and CST within one day

January 13, 2017 1489 Views 0 comment Print

The applicant dealer, applying through DVAT M Sewa, would be granted registration preferably within 01 day, for which no VATI verification would be required.

Demonetization reduces Terror Funding, Hawala Trade, Human Trafficking

January 13, 2017 1939 Views 0 comment Print

Demonetization had resulted in sharp decline in terror funding, hawala trade, supari killings and human trafficking, particularly of young girls as sex slaves, mainly from Nepal and North East.

Registration under Revised GST Model Law

January 13, 2017 10819 Views 0 comment Print

Applicability of registration under Model GST Law on various classes of Assessee along with turnover limit can be explained in summarized form in following table

Definition of Business & Exempt Supplies: Revised Model GST Law

January 13, 2017 4507 Views 0 comment Print

Definition of business seems only to clarify that apart from the activities mentioned in the schedule V, all other activities shall be termed as business transactions and will be covered under GST.

SEBI (Foreign Portfolio Investors) (Amendment) Regulations, 2017

January 12, 2017 1414 Views 0 comment Print

No. SEBI/LAD/NRO/GN/2016-17/018.─In exercise of the powers conferred under section 30 of the Securities and Exchange Board of India Act, 1992 (15 of 1992), the Securities and Exchange Board of India hereby, makes the following regulations to further amend the Securities and Exchange Board of India (Foreign Portfolio Investors) Regulations, 2014

Securities Contracts (Regulation) (Stock Exchanges and Clearing Corporations) (Amendment) Regulations, 2017

January 12, 2017 1246 Views 0 comment Print

These regulations may be called the Securities Contracts (Regulation) (Stock Exchanges and Clearing Corporations) (Amendment) Regulations, 2017.

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