"02 August 2017" Archive

Cheer from RBI! Repo rate cut by 25 basis points to 6%

Press Release: 2017-2018/326 and 2017-2018/325 (02/07/2017)

On the basis of an assessment of the current and evolving macroeconomic situation at its meeting today, the Monetary Policy Committee (MPC) decided to reduce the policy repo rate under the liquidity adjustment facility (LAF) by 25 basis points from 6.25 per cent to 6.0 per cent with immediate effect....

Read More

Charter of Functions of Directorate General of GST

Office Order No. 09/Ad.IV/2017 (02/08/2017)

Charter of Functions assigned to Directorate General of Goods and Service Tax on introduction of Goods and Services Tax. Research and analysis of (a) Subjects relevant to GST; (b) Best practices in global environment; (c) Database and issues relating to collection of CGST, IGST and SGST....

Read More

Implementation of GST in Customs-Changes in S/B Declaration-reg

Public Notice No- 100/2017-JNCH (02/08/2017)

In respect of the cases where export goods had been cleared from factory, warehouse, etc. prior to 1.7.2017 but let export order has not been issued before 1.7.2017. Such goods are not supplies under GST and accordingly, said Note and Condition 12A is not applicable....

Read More

Proforma for issue of Certificate of Origin for Export of Muli-bamboo & bamboo products:

Public Notice No. 15/2015-2020 (02/08/2017)

Proforma for obtaining Certificate of Origin (COO) for export of (i) Muli bamboo(Melconna baccifera); and (ii) Bamboo products made from bamboo obtained from legal source (except bamboo charcoal, bamboo pulp and unprocessed bamboo shoots) has been notified....

Read More

Stand up – Pass & Fail are the Two Aspects of Life

No matter, if could not get success this time, Stay always dynamic, Success will come the next time. Pass & fail are only two aspects of life, Give complete credit to your failure, As coming success is the result of facing failure this time. ...

Read More
Posted Under: Fema / RBI |

Private healthcare sector: Income tax incentives, Legal Provisions & Judgments

Legal Provisions with respect to tax incentives availed by private health care sector under the Income Tax Act Section as per Income Tax Act Provision in brief 10(23C) In computing the total income of a previous year of any person, any income falling within any of the following clauses relating to such assessee (Private Hospital […...

Read More
Posted Under: Fema / RBI |

HC Judgment on Addition for Sham Transaction in the hand of Partners

CIT Vs Vision Finstocks Ltd (Gujarat High Court at Ahmedabad)

CIT (Appeals) in a detailed judgement, reversed the order of the Assessing Officer holding that if at all the transaction was held to be sham, the additions can be made in the case of the firm and not the partners. ...

Read More

Insight of Documentation under GST – (Special Reporting in GSTR 1)

It may be noted that in the GSTR 1 return, following declarations has to be filed by the supplier & has to maintained a consecutive series of all such documents...

Read More
Posted Under: Fema / RBI |

GST Update – Weekly Update 29.07.2017

This Presentation covers the GST changes / observations/ press releases/ Tweet FAQs/ Sectoral FAQs released by CBEC since the last update on 22.07.2017. It supplements the earlier GST Updates....

Read More
Posted Under: Fema / RBI |

CAG Point out various Income Tax Provisions getting misused related to Medical Sector

We recommend CBDT to consider prescribing measurable parameters for assessment of charitable activities undertaken by private hospital trusts as a pre-condition for granting exemptions under the Income Tax Act, and amend the Act for this purpose if necessary....

Read More
Posted Under: Fema / RBI |
Page 1 of 212