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Archive: 15 July 2017

Posts in 15 July 2017

1.32 Lakh Student appeared in May 2017 CA Final Exam and 93K in CPT June 2017

July 15, 2017 3567 Views 0 comment Print

Placed below is the data of the students that were admitted in Final Examination held in May 2017 and Common Proficiency Test (CPT) held in June 2017. Final Examination- No. of Students admitted in the Final Exams – 1,32,007. No. of Final Exam Centres across the globe – 372

ICAI postpones Eligibility Test Paper Scheme for CA Final Exam

July 15, 2017 2028 Views 0 comment Print

The students of Final Course may please note that the Eligibility Test Paper Scheme which was to be implemented for the Final Course students from November 2017 attempt, stands postponed to a later date. In other words

5.56 lakh new persons in 2nd phase of Operation Clean Money identified

July 15, 2017 2046 Views 0 comment Print

Income Tax Department has used information received under Statement of Financial Transactions to identify 5.56 lakh new persons in second phase of Operation Clean Money.

Scheme of FM Award on the occasion of Income Tax Day

July 15, 2017 2043 Views 0 comment Print

The Government hereby sanctions the following scheme of awards to be conferred upon the Officers and Staff of the Income Tax Department in consideration of their rendering exceptional or meritorious service, or displaying outstanding devotion to duty.

GST: Input Tax Credit- When allowed & when not allowed- simplified

July 15, 2017 38946 Views 5 comments Print

If the goods and/or services are taken to deliver the same category of services or as a part of a composite supply, credit will be available.

GST a simple study in Hindi for general information

July 15, 2017 38649 Views 8 comments Print

वस्तु एवं सेवा कर या जी एस टी एक व्यापक, बहु-स्तरीय, डेस्टिनेशन (गंतव्य) आधारित कर है जो वस्तु व् सेवा कर बढ़ते हुए मूल्य पर लगेगा. यह कर प्रणाली वैल्यू एडेड टैक्स (VAT) की तरह ही है, जहाँ प्रत्येक सप्लाई पर सप्लाई के मूल्य में जो भी इजाफा होगा उस पर कर देय होगा. नई GST प्रणाली में यों तो अनेक कर (टैक्स) समाहित किये गए है,

Advisory on GST for Pharmaceuticals dealers

July 15, 2017 11358 Views 1 comment Print

As many Pharmaceutical Dealers and their association represented various matters the following advisory is issued for information and awareness generation. 1. In earlier VAT system, importers and Manufacturers in Medicines and drugs are entitled for composition. The rate of compounding is 5% of MRP. The MRP means maximum price printed on the package of any goods, for which goods are sold to the ultimate consumer.

13 FAQ’s On Merger and Amalgamation

July 15, 2017 12039 Views 0 comment Print

Which companies are allowed to merge? Companies Act, 2013 does not prescribe any eligibility requirements of companies for the merger. However, it prescribes several questions which will be answered in further lines.

Whether Jewellers Comes under the Ambit of GST or Not??

July 15, 2017 4659 Views 4 comments Print

Pre- GST there was buzz that as per section 9(4) of the Central GST Act, 2017, jewellers also falls under the Reverse Charge Mechanism. Revenue Secretary Hasmukh Adhia’s, right before a day before press release said that purchase of old gold jewellery by a jeweller from a consumer will be subject to GST at the […]

Function & Duties of Promoter (i.e Builder / Developer) under RERA

July 15, 2017 21144 Views 2 comments Print

This article discusses about Promoters, their functions and duties under Real Estate (Regulation and Development), 2016. A person who develops land into a project for the purpose of selling to other persons all or some of the plots in the said project, whether with or without structures thereon; or

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