Direct Tax Collections up to June, 2017 for F.Y. 2017-2018 stood at Rs. 1,42 Lakh crore registering a Growth of 14.8% higher than the net collections for the corresponding period of last year; Net direct tax collections represent 14.5% of the total Budget Estimates of Rs. 9.8 lakh crore for Direct Taxes for F.Y. 2017-18. […]
Government of India in consultation with RBI decides to issue Sovereign Gold Bond Scheme 2017-18– Series II; Applications for the bond will be accepted from July 10, 2017 to July 14, 2017; The Bonds will be issued on July 28, 2017. Government of India, in consultation with the Reserve Bank of India, has decided to […]
Previous Council Meeting (17th) –June 18, 2017 (Delhi) Today’s Council Meeting (18th ) –June 30, 2017 (Delhi) Next Council Meeting (19th) –August 5, 2017 GST IMPLEMENTED FROM JULY 01, 2017 Agenda of meeting: the meeting was originally called just to thank the council members for helping in the implementation of GST. There was no formal […]
Certain doubts have arisen in the minds of some of the electors at the current Presidential Election, 2017 to the effect whether a member of a political party voting in defiance of the political party’s decision would attract the disqualification on the ground of defection under the Tenth Schedule to the Constitution of India or […]
What do we do to show our love to our loved ones? We buy property, gold, vehicles etc. Then to secure or protect that love we keep insuring that property, gold and vehicles too. Not only that we cover our lives too! However,if you are a bread-earner of the family then you miss insuring the very important entity of the family – that is you!
The ODI issuing FPIs shall not be allowed to issue ODIs with derivative as underlying, with the exception of those derivative positions that are taken by the ODI issuing FPI for hedging the equity shares held by it, on a one to one basis.
The issue relating to levy of IGST exemption on inter-state movement of various modes of conveyance, carrying goods or passengers or for repairs and maintenance, between distinct persons as specified in section 25(4) of the Central Goods and Services Tax Act, 2017, carrying goods or passengers or both; or for repairs and maintenance, [except in cases where such movement is for further supply of the same conveyance] has been examined.
Were you aware that in addition to being a radical indirect taxation reform initiative, GST (Goods and Services Tax) is also a shining example of co-operative federalism? Let us see how.
Issue 1: A Ltd. has given an interest free loan to its subsidiary company B Ltd. Both companies are covered under Phase I of Ind AS roadmap. B Ltd. has recognised the differential of present value of loan amount and its carrying amount as per previous GAAP as ‘Equity’ in its standalone financial statements prepared as per Ind AS. A Ltd.
As per rule 96A of the Central Goods and Services Tax Rules, 2017 ( The CGST Rules), any registered person exporting goods or services without payment of integrated tax is required to furnish a bond or a Letter of Undertaking (LUT) in FORM GST RFD-11.
