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Archive: March, 2017

Posts in March, 2017

Waiver of Late Fee for late filing of VAT, CST, PT & Luxry Tax returns

March 17, 2017 15666 Views 0 comment Print

Waiver of Late Fee for late filing of VAT and CST returns in Maharashtra The Trade has represented that many technical difficulties are being faced by them while filing their returns and therefore the late fees for delayed filing of returns should be waived. The issue was examined and in order to provide relief to […]

No penalty u/s Sec. 51 of PVAT for non-generation of E-ICC information

March 17, 2017 1110 Views 0 comment Print

In the present case the goods were detained by the officers of Mobile Wing Fazilka and penalty was imposed for non generation of e-ICC. The appellant in the appeal contended that the server of the department was non functioning properly and in the given circumstances the appellant was left with no alternative then to send the goods without generation of e-ICC.

Non Resident can enter foreign exchange derivative contract

March 17, 2017 1347 Views 0 comment Print

A non-resident may enter into a foreign exchange derivative contract with an Authorised Dealer bank in India to hedge an exposure to exchange risk of and on behalf of its Indian subsidiary in respect of the said subsidiary’s transactions subject to such terms and conditions as may be stipulated by the Reserve Bank from time to time.

Companies (Indian Accounting Standards) (Amendment) Rules, 2017

March 17, 2017 5601 Views 0 comment Print

(1) These rules may be called the Companies (Indian Accounting Standards) (Amendment) Rules, 2017. (2) They shall come into force on the 1st day of April, 2017.

DVAT 3rd quarter of 2016-17 Return Filing due date extended to 31/03/2017

March 17, 2017 4344 Views 0 comment Print

Commissioner, Value Added Tax, Delhi extends the last date of filing of online/hard copy of third quarter return for the year 2016-17, in Form DVAT-16 ,DVAT-17 and DVAT-48 along with required annexure/enclosures to 31.03.2017.

Maharashtra VAT Launches 3 New Online Facilities for dealers

March 16, 2017 16833 Views 0 comment Print

1. Facility to view draft return before submitting the returns under the MVAT and the CST Act 2. Facility to upload application of refund for the periods from 01 April 2016 onwards 3. Facility to upload application to obtain the e CST declarations for the dealers registered after 25 May 2016

HLC to review Institutionalisation of Arbitration Mechanism in India

March 16, 2017 1209 Views 0 comment Print

Comments invited on working paper of high level committee (HLC) to review Institutionalisation of Arbitration Mechanism in India by 7 April 2017

Govt to enable Withdrawal upto 90% for Purchase of House from EPF

March 16, 2017 1464 Views 0 comment Print

Government to Amend EPF Scheme, 1952 to Enable EPF Members to Withdraw upto 90 Percent Fund for purchase of dwelling house/flat or construction of dwelling house/acquisition of site.

Cabinet approves additional 2% Dearness Allowance / Relief

March 16, 2017 1002 Views 0 comment Print

Cabinet approves additional 2% Dearness Allowance / Dearness Relief due from January, 2017 15.03.2017 The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi has approved release of an additional instalment of Dearness Allowance (DA) to Central Government employees and Dearness Relief (DR) to pensioners w.e.f. 01.01.2017. It has increased by 2% over the […]

Cabinet approves National Health Policy 2017

March 16, 2017 1290 Views 0 comment Print

Government of India formulated the Draft National Health Policy and placed it in public domain on 30th December, 2014. Thereafter following detailed consultations with the stakeholders and State Governments, based on the suggestions received, the Draft National Health Policy was further fine-tuned. It received the endorsement of the Central Council for Health & Family Welfare, the apex policy making body, in its Twelfth Conference held on 27th February, 2016.

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