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Archive: June, 2017

Posts in June, 2017

Tax Rate on Services under GST & availability of Input Tax Credit

June 29, 2017 7113 Views 0 comment Print

1. Transport Services: Tax rate ITC – Services ITC – Goods (a) Goods by rail (i) Containers 12 Y Y (ii) Others 5 Y N (b) Passengers by rail (Ex. sleeper class) 5 Y N (c) GTA Services (i) Household goods for personal use 5 N N (ii) Others (RCM) 5 N N (d) Goods […]

Internal Audit in GST Regime

June 29, 2017 8718 Views 4 comments Print

This GST reform will provide huge opportunity to CA’s to perform role of facilitator between the Policy makers, Industry & Trade organization and consumers.

U S Taxation Vs Canadian Income Tax for individual- a Study

June 29, 2017 1710 Views 0 comment Print

During my recent visit to Southern India, particularly, Tamil Nadu, my family doctor having many covenanted degrees in Medicine from Canada, mentioned about the high income/other tax rates in Canada and also their social commitments to take extra care of the welfare of their citizen.

SAIL readies for new tax regime under GST

June 29, 2017 972 Views 0 comment Print

Steel Authority of India Ltd. (SAIL) is readying itself for a smooth transition into the new tax regime, which will come into effect with the introduction of GST from July 01, 2017. The Company, besides appointment of reputed Consultant for overseeing the transition, has also formed special teams for coordination with its pan India based plants, units, marketing offices and other units for migrating to GST regime.

Seeks to amend Customs Exemption notifications for various export promotion schemes

June 29, 2017 2832 Views 0 comment Print

G.S.R. (E).- In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby makes the following amendments in each of the notifications of the Government of India in the Ministry of Finance

Anti-dumping duty on imports of ‘Pentaerythritol’ from China

June 29, 2017 2235 Views 1 comment Print

Seeks to impose ADD on the imports of Pentaerythritol originating in or exported from China PR for a period of five years vide Notification No. 32 /2017-Customs (ADD)

Compensation Cess Rate Chart under GST Regime

June 29, 2017 6681 Views 0 comment Print

Notification No. 1/2017, the Central Government, on the recommendations of the Council, hereby notifies the rate of cess, that shall be levied on the intra- State supplies or inter-State supplies of such goods, the description of which is specified in the corresponding entry and falling under the tariff item.

Process for Grievance Redressal Committee for rejected Coop Empanelment applications

June 29, 2017 1257 Views 0 comment Print

Kindly follow the following process if your Coop Empanelment Application is rejected either at DDR or at Commissioner office level or both. The Application should be on simple paper addressed to Divisional Joint Registrar where your District falls .The web link for the address and contact details of DDR and Div. Joint Registrar is as under:

Shipping Bill (Electronic Declaration) (Amendment) Regulations, 2017

June 29, 2017 1473 Views 0 comment Print

In the Shipping Bill (Electronic Declaration) Regulations, 2011, in regulation 1, in sub-regulation (1), for the words Electronic Declaration, the words Electronic Integrated Declaration shall be substituted.

Shipping Bill & Bill of Export (Forms) Regulations,2017

June 29, 2017 8739 Views 0 comment Print

Shipping Bill. -A shipping bill to be presented by an exporter of goods shall be in Form SB I or Form SB II, as the case may be, appended to these regulations.

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