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Archive: 26 July 2017

Posts in 26 July 2017

DGFT amends para 2.16, 2.20, 2.51, 2.74, 2.79 & 2.80 of HBP

July 26, 2017 4098 Views 0 comment Print

In exercise of the powers conferred under Paragraph 1.03 of the Foreign Trade Policy (FTP), 2015-20, the Director General of Foreign Trade, hereby makes amendments i n paras 2.16, 2.20, 2.51, 2.74, 2.79 and 2.80 of the Handbook of Procedures (HBP) of FTP 2015-20, with immediate effect (changes made are in bold letters).

GST-a real major incentive for making investments in SEZs

July 26, 2017 1272 Views 0 comment Print

Though imposition of Minimum Alternative Tax (MAT) in 2011 slowed down growth of special economic zones (SEZs), but implementation of Goods and Service Tax (GST) provides wonderful opportunity for making investments in Indian SEZs, a top Commerce Ministry official said at an ASSOCHAM event held in New Delhi today.

Income Tax Dept to Install CCTV Cameras in its office premises

July 26, 2017 2952 Views 0 comment Print

From time to time, instances of theft and breach of security in office premises are reported. Also, a number of our officers/officials are carrying out duties which are sensitive in nature. At times, there are instances of officers/officials being threatened

Banking Regulation (Amendment) Bill, 2017 as introduced in Lok Sabha

July 26, 2017 1197 Views 0 comment Print

The Central Government may, by order, authorise the Reserve Bank to issue directions to any banking company or banking companies to initiate insolvency resolution process in respect of a default, under the provisions of the Insolvency and Bankruptcy Code, 2016.

Andaman and Nicobar Islands Vale Added Tax Regulation 2017

July 26, 2017 3948 Views 0 comment Print

THE ANDAMAN AND NICOBAR ISLANDS VALUE ADDED TAX REGULATION, 2017-NO. 6 OF 2017- Promulgated by the President in the Sixty-eighth Year of the Republic of India. A Regulation to provide for a tax system on the goods excluded from the Union Territory Goods and Services Tax Act, 2017 and to widen the tax base by levying tax on sale of the said goods at every point of sale, making the levy of tax transparent and for matters connected therewith or incidental thereto.

Re-organization of CBEC field formations in GST-regime

July 26, 2017 1593 Views 0 comment Print

Consequent upon the declaration of Heads of Departments in the field formations of CBEC in GST regime vide sanction letter No. A-11013/24/2017-Ad.IV dated 12.06.2017, issued by Deptt. of Revenue (C.B.E.C), changes have happened in the DDO set up which has required to make fresh mapping of DDOs and PAOs.

Allotment of DDO Codes after restructuring as GST Commissionerates

July 26, 2017 2001 Views 0 comment Print

Consequent upon the reorganization of the field formations on introduction of GST w.e.f 1.07.2017, the GST Commissionerates are to be allocated new DDO codes by the Chief Controller of Accounts (CBEC).

CBDT to share details with ROC of Income Taxpayers

July 26, 2017 1266 Views 0 comment Print

Central Government, hereby specifies Joint Secretary, Ministry of Corporate Affairs, Government of India, for purposes sub-clause (ii) of clause (a) of sub-section (1) of Section138 of Income-tax Act, 1961,

Income Tax Notification on Deemed demerger of Company ceased to be public sector company

July 26, 2017 1410 Views 0 comment Print

S.O. 2338(E).—In exercise of the powers conferred by Explanation 5 to clause (19AA) of section 2 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby amends the notification of the Government of India, Ministry of Finance number S.O. 3204(E) published in the Gazette of India

GST on Transport & Myths At A Glance

July 26, 2017 18792 Views 7 comments Print

There are several confusions in mind of registered suppliers/recipient regarding registered/unregistered suppliers of Transport Services regarding rate of GST/RCM etc on Transportation of Goods when different rate items supplied in single Invoice. I have tried to sum up all concerning provisions at one place to explain provisions so during teething trouble we should have some relax of looking provisions described at different places in Act/Rules/Notifications:

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