With the passage of the 122nd Constitution Amendment Bill, the Model GST Law that has been in public domain since June 2016 has come to receive closer attention of all readers. To kindle readers interest in examining the provisions of the Model GST Law
The manufacturing industries (larger and medium) nowadays stick to their core competencies and get most jobs done on job work basis. Some concerns go in for contract manufacturing in which case the processor becomes a vendor and job work does not apply.
One of the much talked about feature of the proposed Goods and Service Tax Law (GST) is – seamless input credit. If this theme is followed in its true spirit, GST would be nearer to the concept as propagated and if not, it may significantly dent the expectations of the masses.
GST is a significant tax and game changing reform for the Indian economy. From an origin based taxation system to a destination based one, businesses have to overthrow the challenges to gain the benefits that the GST regime has proposed to extend.
On 14th June 2016‘Model law of GST was made available in public domain. After the passage of Goods and Services Tax (GST)Constitutional Amendment Act in Rajya Sabha, President Pranab Mukherjee gave assent to the GST Billon 8th September 2016, which will eventually make GST areality.
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Documents to be submitted in case of delay in submission Forms with ICAI Beyond 30 days and upto one year (i) Original deed of agreement executed in form 102 (ii) Work diary / attendance record (iii) Stipend proof (Pass Book/Bank Statement)
A delegation of Indian Revenue Service/IRS (Income Tax) officers of 2008 batch called on the Union Minister of State (Independent Charge) for Development of North Eastern Region (DoNER), MoS PMO, Personnel, Public Grievances, Pensions, Atomic Energy and Space, Dr Jitendra Singh here today. The delegation sought Dr Jitendra Singh’s intervention for their promotion.
The figures for Direct Tax collections up to December, 2016 show that revenue net of refunds is Rs. 5.53 lakh crore which is 12.01% more than the net collections for the corresponding period last year. This collection is 65.3% of the total Budget Estimates of Direct Taxes for Financial Year 20 16-17.
The Income Tax Department as been conferred Silver Award in National Awards on e-Governance-2016-17 for e‑filing of Income Tax returns and other forms project in category Incremental Innovations in existing projects.
