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Archive: July, 2017

Posts in July, 2017

LOU in place of a bond for export without payment of IGST- Conditions

July 7, 2017 22830 Views 1 comment Print

Notification No. 16/2017-CT (conditions and safeguards for furnishing a Letter of Undertaking (LOU) in place of a bond for export without payment of integrated tax) Government of India Ministry of Finance Department of Revenue Central Board of Excise and Customs Notification No. 16/2017- Central Tax New Delhi, the 7th July, 2017 G.S.R. 848(E). :- In […]

Court admits defamation complaint filed by Tata Trusts officials against Cyrus Mistry

July 7, 2017 1071 Views 0 comment Print

Mumbai court has admitted a criminal defamation complaint filed by Venkataramanan, one of the trustees of Tata Trusts against former Tata Group Chairman, Cyrus Mistry, wherein he has demanded a compensation of Rs. 500 crore from Cyrus Mistry for making a defamatory statement against him.

IND AS 23 Vs AS 16

July 7, 2017 16638 Views 0 comment Print

In IND AS 23 we should calculate weighted average capitalisation rate on total borrowing of Holding & subsidiaries. There Individual weighted average cost of capitalisation rate shall not be considered in consolidated statement.

GST Guide: Sub Brokers/ Agents/ Intermediaries

July 7, 2017 129401 Views 31 comments Print

Earlier, under the service tax law sub brokers not liable to pay service tax as liability of sub broker was discharged by main broker. They were not liable to get registered. Now under GST regime, agents/ sub brokers are liable to get themselves registered due to provision of compulsory registration as defined in The Central Goods and Services Tax Act, 2017

Last Day to Register for our online GST Certification Course

July 7, 2017 11814 Views 3 comments Print

Join most intensive and Comprehensive Online Certification Course on GST – January 2019 Batch, organised jointly by GST Professionals, TaxGuru.in and MSME and Government of India Venture.  Detailed batch will start from 20th January 2019. Registration open only till 1.00 PM (20.01.2019). Batch provides Detailed coverage for Effective GST Audits & Reconciliation Statements, filing of […]

Ministry of Food Processing Industry establishes GST facilitation cell

July 7, 2017 900 Views 0 comment Print

The Ministry of Food Processing Industries has established a four member GST Facilitation Cell at its office to guide the industry about the new tax regime. The members of the GST Facilitation Cell can be accessed through Toll Free No 1800111175 or on #AskonGSTFPI. Further details can be accessed from http://www.mofpi.nic.in

Guidelines for online issuance of GST permit and Transit Passes, etc. for facilitating movement of goods

July 7, 2017 4959 Views 1 comment Print

Whereas in pursuance of provision of section 68 of the Assam Goods and Services Tax Act, 2017 read with the provision of rule 138 of the Assam Goods and Services Tax Rules, 2017, the Government of Assam has approved the following electronically obtained documents required to be carried by a person in-charge of a conveyance

GST: J&K Govt. notifies Constitution Amendment Order, 2017

July 6, 2017 2058 Views 0 comment Print

In exercise of the powers conferred by clause (1) of article 370 of the Constitution, the President, with the concurrence of the Government of the State of Jammu and Kashmir, is pleased to make the following Order

Revised rates of Rebate of State Levies on Export of Garments and textile made-up articles w.e.f. 01.07.2017 –regarding

July 6, 2017 2640 Views 0 comment Print

These revised rates on garment and textile made-up exports under ROSL Scheme are applicable to exports with Let Export Order dates from 1.7.2017 on wards. The EDI implementation of the revised ROSL Scheme rates has been completed by the Systems Directorate.

CBDT relaxes PAN requirement for Section 269T reporting in 3CD

July 6, 2017 6483 Views 1 comment Print

G.S.R. 841(E).—In the notification of the Government of India, Ministry of Finance, Department of Revenue (Central Board of Direct Taxes), number 58/2017, dated the 3rd July, 2017, published vide number G.S.R. 821(E) dated the 3rd July, 2017, in the Gazette of India, Extraordinary, Part II, Section 3, Sub- section (i), at page 4

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