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Archive: June, 2017

Posts in June, 2017

ICAI invites EOI for software relevant to Practitioners & CA Firms

June 23, 2017 1980 Views 0 comment Print

Invitation for Expression of interest (EOI) from software development companies for providing software relevant to the Practitioners & CA Firms of ICAI by July 31, 2017

ITAT explains Change of opinion vs. Failure to apply mind

June 23, 2017 4005 Views 0 comment Print

The assessee as well as the Revenue is in cross appeal against the impugned order dated 29/11/2013 of the First Appellate Authority, Mumbai. In the appeal of the assessee (ITA No.658/Mum/2014), the first ground raised pertains to confirming the reopening u/s 147 of the Income Tax Act, 1961

Proper Officer under Gujarat GST Act 2017 notified

June 23, 2017 3036 Views 0 comment Print

In exercise of the power conferred upon me by sub-section (1) of section 5 read with clause (91) of section 2 of the Gujarat Goods and Services Tax Act, 2017 and the rules framed thereunder, I do hereby assign the functions to be performed under this Act by a proper officer as defined in clause (91) of section 2

Limit of Turnover for Composition under Gujarat GST Act 2017

June 23, 2017 3477 Views 0 comment Print

Government of Gujarat, on the recommendations of the Council, hereby prescribes that an eligible registered person, whose aggregate turnover in the preceding financial year did not exceed seventy five lakh rupees, may opt to pay, in lieu of the tax payable by him, an amount calculated at the rate of,—

Amendment in export policy of Muli Bamboo & bamboo products

June 23, 2017 2319 Views 0 comment Print

Export of Mull Bamboo till 31.03.2019 and bamboo products (except bamboo charcoal, bamboo pulp and unprocessed bamboo shoots) mace from bamboo obtained from legal sources has been permitted.

CBEC declares Kannur International Airport as Customs Airport

June 23, 2017 1518 Views 0 comment Print

Seeks to amend Notification No. 61/94(NT) – Customs, dated 21st November, 1994 to declare Kannur International Airport as Customs Airport under sub-section (2) of section 7 of Customs Act, 1962

Goods & Services Tax: E-Waybill

June 23, 2017 9093 Views 1 comment Print

On generation of E-Waybill, an unique number will be issued and it will made available to supplier, recipient and transporter. Further, the validity of E-Waybill depends on the distance of movement of goods like for 0 to 100 KM distance, a generated E-Waybill will be valid for 1 day etc.

Goods & Services Tax: Place of Supply

June 23, 2017 5031 Views 1 comment Print

Hence, it is very important to determine the place of supply so the taxes can be charged accordingly and transferred to ultimate destination/state/ UT.

Goods & Services Tax: Tax Invoice

June 23, 2017 9822 Views 2 comments Print

under GST you need to prepare invoices in triplicate for supply of goods: i) The original copy being marked as ORIGINAL FOR RECIPIENT, ii) The duplicate copy being marked as DUPLICATE FOR TRANSPORTER, iii) The triplicate copy being marked as TRIPLICATE FOR SUPPLIER. In case of supply of services, you need to prepare invoice in duplicate:

Project Imports (Amendment) Regulations, 2017

June 23, 2017 6330 Views 0 comment Print

In exercise of powers conferred by section 157 of Customs Act, 1962, CBEC hereby makes following regulations further to amend Project Imports Regulations, 1986, namely

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