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Archive: 03 August 2017

Posts in 03 August 2017

Course on Mastering GST Sections Effortlessly with Memory Techniques!

December 22, 2024 10899 Views 0 comment Print

Simplify GST learning with memory techniques. Join live sessions, master CGST sections, and retain knowledge effortlessly. Register now for practical GST mastery!

Post GST reduction of incidence of Tax on Coal Consumers

August 3, 2017 1836 Views 0 comment Print

In pre GST regime there was Excise Duty on Coal @ 6% , Stowing Excise Duty @ Rs. 10 per tonne of coal production, VAT@ 5% (on intra-state sale), Central Sales Tax @ 2% (on inter-state sale, on submission of Form C) . Post implementation of GST all the above mentioned taxes and levies have been subsumed and GST @ 5% is being charged to consumers.

Adjudicating authority obliged to examine stand of alleged Benamindar: HC

August 3, 2017 1638 Views 0 comment Print

Kailash Assudani Vs CIT (Madhya Pradesh High court) A plain reading of Sub-section (3) of Section 26 of Prohibition of Benami Property Transaction Act, 1988 makes it clear that the adjudicating authority is obliged to examine the stand of alleged Benamindar in reply to the show cause notice. He is further obliged to make further […]

GST : Frequently Asked Question (FAQs) on Export

August 3, 2017 16077 Views 3 comments Print

Under the GST Law, export of goods or services has been treated as: inter-State supply and covered under the IGST Act., zero rated supply i.e. the goods or services exported shall be relieved of GST levied upon them either at the input stage oral the final product stage.

CBDT notifies countries & specified territories for Sec. 9A(3)(b)

August 3, 2017 1830 Views 0 comment Print

S.O. 2456(E).—In exercise of the powers conferred by clause (b) of sub-section (3) of section 9A of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies the following countries and specified territories, mentioned in column (2) of the Table given below, for the purposes of the said section, namely:

Notification No. 77/2017-Income Tax dated 3rd August 2017

August 3, 2017 6864 Views 0 comment Print

In exercise of the powers conferred by the proviso to sub-section (3) of section 9A of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies that the conditions specified in clauses (e), (f) and (g) of said sub-section shall not apply in case of an investment fund set up by a Category-I or Category-II foreign portfolio investor

MVAT: Refunds of security deposit given at the time of Voluntary Registration

August 3, 2017 53058 Views 17 comments Print

The person applying for voluntary registration has to deposit an amount of Rs. 25000/- by way of security deposit at the time of registration as per the proviso to section 16(2) of the Maharashtra Value Added Tax Act, 2002. Such deposit is not liable for adjustment against tax payable as per return or towards any other liability under MVAT Act, 2002. The person applying for voluntary registration has to deposit an amount of Rs. 25000/- by way of security deposit at the time of registration as per the proviso to section 16(2) of the Maharashtra Value Added Tax Act, 2002.

Delhai VAT: Disposal of pending Form DVAT 04 & DVAT 07 applications

August 3, 2017 1020 Views 0 comment Print

It has, however, come to the notice that some of the ward Incharges have still not disposed off their pendency of Form DVAT 04 & Form DVAT 07 applications, relating to Registration and amendments respectively.

Rate of exchange of conversion of foreign currency WEF 04.08.2017

August 3, 2017 1014 Views 0 comment Print

CBEC hereby determines rate of exchange of conversion of each of the foreign currencies WEF 04.08.2017 vide Notification No. 75/2017-Customs (N.T.)

Order No. 132/2017: Additional charges to officers in CCIT grade

August 3, 2017 1059 Views 0 comment Print

The following officers in the grade of CCIT are, hereby, ordered to hold the charge (s) indicated against their names in addition to the substantive charge/ additional charge(s) being held by them, with immediate effect and until further orders

Products accorded approval by SEBI for trading in stock exchanges in GIFT City IFSC

August 3, 2017 540 Views 0 comment Print

Gujarat International Finance Tec-City International Financial Service Centre (GIFT City IFSC) has been set up with an objective to, inter alia, enable Indian entities to compete on an equal footing with offshore financial centres and to provide facilities and regulations comparable to other leading international financial centres in the world.

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