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Archive: May, 2017

Posts in May, 2017

Import of Services under GST

May 19, 2017 74656 Views 6 comments Print

Actually in our daily life we come across many situations where knowingly or unknowingly avail some or the other services which as per GST law, are considered to be an import of services,

Draft ‘Fugitive Economic Offenders Bill, 2017’ -Govt invite comments

May 18, 2017 1200 Views 0 comment Print

It is widely felt that the spectre of high-value economic offenders absconding from India to defy the legal process seriously undermines the rule of law in India. It is, therefore, felt necessary to provide an effective, expeditious and constitutionally permissible deterrent to ensure that such actions are curbed.

Retention of seized cash to be utilised towards tax dues already determined

May 18, 2017 1188 Views 0 comment Print

Facts on record go to show that on 21-3-2014 when the petitioners were carrying a sum of Rs. 30 lakhs in New Delhi purportedly having received it as certain sale proceeds, the author­ities of the Income Tax Department at New Delhi seized the amount and thereafter when the amount was not released and no action was taken for a period of about two years, this writ petition has been filed.

104 Transfers and postings in the grade of ACIT / DCIT (Local changes)

May 18, 2017 1965 Views 0 comment Print

The following postings/ transfers in the grade of Assistant/ Deputy Commissioner of Income Tax (Local Change) are, hereby, ordered with immediate effect and until further orders

Fast Tracking Skill Development

May 18, 2017 1302 Views 0 comment Print

‘Skill building’ and ‘knowledge’ are quintessential for economic growth of any country in today’s world. More so for a country like India where 13 million youth are estimated to enter the job market annually. There is another reason too which makes ‘skill building’ an imperative for the growth of country’s economy.

MEIS Scheme being re-designed to make exports GST compliant

May 18, 2017 2130 Views 0 comment Print

Merchandise Exports from India Scheme being re-designed to make exports GST- compliant; working capital needs under new tax regime being deliberated upon

Minimum qualifications & experience for CFO & CTO of Banks

May 18, 2017 5214 Views 0 comment Print

A Chief Financial Officer (CFO) and Chief Technology Officer (CTO) in banks’ management structure would play a crucial role in strengthening and sustaining the banks’ risk governance framework.

Customs Rate of foreign currency exchange WEF 19th May, 2017

May 18, 2017 1248 Views 0 comment Print

Indian currency or vice versa, shall, with effect from 19th May, 2017, be the rate mentioned against it in the corresponding entry in column (3) thereof, for the purpose of the said section, relating to imported and export goods.

EPFO: Issue of Certificate of Coverage – reg.

May 18, 2017 3363 Views 0 comment Print

The Ministry of external affairs recently conducted stock taking meetings to review the working of some of the SSA’s with the concerned countries. Many discrepancies have been pointed out in the issue of COCs which as are under

Rationalisation of Bank Branch Authorisation Policy- Revision of Guidelines

May 18, 2017 3543 Views 0 comment Print

It may be recalled that in terms of announcement made in the first Bi-monthly Monetary Policy Statement 2016-17 on April 5, 2016, it was, inter alia, proposed to redefine branches and permissible methods of outreach keeping in mind the various attributes of the banks and the types of services that are sought to be provided.

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