"11 April 2017" Archive

Introduction of GST

The introduction of GST would mark a clear departure from the scheme of distribution of fiscal powers envisaged in the Constitution. The proposed dual GST envisages taxation of the same taxable event, i.e., supply of goods and services, simultaneously by both the Centre and the States....

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Adhia to review Preparedness of North Eastern Region for GST

The Revenue Secretary, Government of India, Dr. Hasmukh Adhia will leave on a four day visit to North East on Thursday, 13th April, 2017 in order to review the preparedness of the North East Region for the Goods and Services Tax (GST) which is estimated to be rolled-out from 1st July, 2017....

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Action taken with respect to HSBC, ICIJ and Panama Paper cases

The Special Investigation Team has so far submitted five reports before the Hon’ble Supreme Court. The action taken with respect to HSBC, ICIJ and Panama Paper cases is as follows:...

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GST network free from cyber-attack and data theft

Necessary steps are being taken by GSTN to ensure robust cyber security of GST Network. To ensure the same, inputs from National Cyber Security Coordinator (NCSC), officers from the Intelligence Bureau and CERT-In, have also been taken and various aspects relating to security including the mechanism to enhance the resilience of critical a...

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RBI not authorised usage of Virtual Currencies including Bitcoins

RBI has advised that it has not given any license / authorization to any entity / company to operate schemes or to deal with Bitcoin or any virtual currency. As such, any user, holder, investor, trader, etc. dealing with Virtual Currencies will be doing so at their own risk....

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When to start planning for retirement?

When a person should buy health conscious? After becoming sick or before becoming sick or always… There are some questions like this, though at the sub-conscious level we know the answer, our conscious mind somehow acts as if it is ignorant of the obvious answer....

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Salary of NR seafarer not taxable merely for credit to NRE account in India

Circular No. 13/2017-Income Tax (11/04/2017)

Clarification regarding liability to income-tax in India for a non-resident seafarer receiving remuneration in NRE (Non Resident External) account maintained with an Indian Bank....

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No pension without submission of Jeevan Pramaan/ Life Certificate

No. Pension -1/17(10)/2016-17/Jeevan Pramaan/301 (11/04/2017)

It will be mandatory for all pensioners of the EPS' 1995 who are desirous of continuing the benefits of the said scheme to furnish their Jeevan Pramaan/Life Certificate by 30.04.2017....

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Highlight of the four GST bills passed in Lok Sabha and Rajya Sabha

Lok Shaba has passed Four Bills on 29.03.2017 namely CGST, UTGST, IGST, Compensation (to State) relating to Goods and Service Tax (GST). RajyaSabha also passed these 4 bills on 05.04.2017....

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Reopening for mere Mismatch Found with Dept Website not valid

M/s. JKM Graphics Solutions Private Limited Vs The Commercial Tax Officer (Madras High Court)

The respective Assessing Officers, either by themselves or on instructions from the Enforcement Wing officials have stated that there is mismatch of the details, disclosed in the returns compared with the details available with the Department....

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