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Archive: 12 July 2017

Posts in 12 July 2017

Free Live Webinar: Dematerialization of Securities and Recent Amendments

July 2, 2024 2850 Views 0 comment Print

Join our free webinar on July 4th at 4:00 PM to gain insights into the dematerialization of securities and recent amendments. Register now for key updates.

Free Webinar: Analysis of 10 Recent Income Tax Judgments in Favour of Assessee

July 1, 2024 4641 Views 0 comment Print

Join our free webinar on July 7 at 5 PM for insights into 10 recent High Court income tax judgments favoring assessees. Expert analysis by CA Dipak Dama.

CBDT notifies rules to determine of Fair Market Value of unquoted shares

July 12, 2017 8865 Views 0 comment Print

Determination of Fair Market Value for share other than quoted share. 11UAA. For the purposes of section 50CA, the fair market value of the share of a company other than a quoted share, shall be determined in the manner provided in sub-clause (b) or sub-clause(c),as the case may be,

Allowability of deduction U/s. 80P(2)(a)(i) to Co-operative society engaged in providing credit facilities to members

July 12, 2017 12027 Views 0 comment Print

These appeals preferred by the assessee emanates from the order of learned Commissioner (Appeals)-2, Jodhpur for assessment year 2008-09 vide order dated 19-11-2015; assessment year 2010-11 vide order dated 20-11-2015

91 Iakh new taxpayers added during FY 2016-17 : CBDT

July 12, 2017 1083 Views 0 comment Print

Widening of tax base remains one of the important policy objectives of CBDT. Various steps have been taken to increase the tax base and the same have shown appreciable results. It is quite encouraging to note that almost 91 Iakh new taxpayers were added during FY 2016-17.

Discount not claimed in commutation of income cannot be disallowed U/s. 40(a)(ia)

July 12, 2017 2136 Views 0 comment Print

Where the impugned amount is not claimed by the assessee by way of deduction under sections 30 to 38 of the Act while computing the income of the assessee under the head Profits and gains of business or profession the question of making any dis allowance under section 40(a)(ia) of the Act will not arise

Madhya Pradesh Goods and Services Tax Act, 2017

July 12, 2017 8778 Views 0 comment Print

An Act to make a provision for levy and collection of tax on intra-State supply of goods or services or both by the State of Madhya Pradesh and the matters connected therewith or incidental thereto

Amendment in Chapter Notes and Import Policy and Policy Conditions of items under Chapter 98 of ITC (HS), 2017 – Schedule -1 (Import Policy)

July 12, 2017 2232 Views 0 comment Print

S.O. (E): In exercise of powers conferred by Section 3 of FT (D&R) Act, 1992, read with paragraph 1.02 and 2.01 of the Foreign Trade Policy, 2015-2020, as amended from time to time, the Central Government hereby amends Chapter Notes and Import Policy and Policy Conditions of items of Chapter 98 as under

Branded dried leguminous vegetables will be taxable under GST

July 12, 2017 1614 Views 0 comment Print

G.S.R. (E).- In the notification of the Government of India, in the Ministry of Finance (Department of Revenue), No.2/2017-Central Tax (Rate), dated the 28th June, 2017, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 674(E), dated the 28th June, 2017

12% GST on Citrus fruit, clementines, wilkings, grape fruits, including lemons & limes

July 12, 2017 1872 Views 0 comment Print

G.S.R. (E).- In the notification of the Government of India, in the Ministry of Finance (Department of Revenue), No.1/2017-Central Tax (Rate), dated the 28th June, 2017, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 673(E), dated the 28th June, 2017

GST: FAQs on Enrolment of existing taxpayer with Provisional ID & Password

July 12, 2017 8619 Views 2 comments Print

I am an existing taxpayer registered under Excise, Service Tax and State Tax Laws such as VAT, Entry Tax, Luxury Tax and Entertainment Tax. I received SMS/ E-Mail with Provisional ID and Password. What are next steps for me? How do I begin to enrol with the GST Portal with Provisional ID and Password?

Tax On Ocean Freight Services – When The Bell Rings

July 12, 2017 7122 Views 0 comment Print

Tax ability of Ocean Freight services provided by Foreign Shipping Line to Foreign Exporter (Import on FOB contracts) has been a matter of debate since the Budget of 2016. Let us see  the timeline, of how things went bad to ugly over the recent times. The Finance Act, 2016 made Ocean Freight Services involving any […]

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