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Archive: 31 August 2017

Posts in 31 August 2017

Goods Transport Agency (GTA) under GST

August 31, 2017 5208 Views 4 comments Print

Transportation is a huge part of the economy. Any problems in transportation disrupts the entire business channel. This is why any petrol price change has a far-reaching effect in disruption of business.

Clause by Clause Analysis of TRAN-1 under GST

August 31, 2017 10443 Views 0 comment Print

Transition involves moving from what was to what will be—its a period of time where one is in between a familiar and a new situation or environment. This can be an exciting, or could be stressful or may be frightening. Witnessed it is like opening of mystery in front of your eyes. Now we move forward from migration of registrations, furnishing of provisional returns to another task of availing transitional credit.

Rs. 5,000 per day limit under GST for RCM applicability

August 31, 2017 82302 Views 7 comments Print

An attempt is made to analyze the above provisions where the author is of the opinion that there is anomaly in drafting the provisions as well as corresponding notifications. Now look at the relevant provisions.

1 Month and 7 GST Returns!!

August 31, 2017 2313 Views 1 comment Print

As we already knew that in September month there are 7 returns to be filed under GST (for July & august) and this month is going to be a bit hectic. In this write-up, an over view of all the forms together with their due dates are being discussed

Gain on sale of agricultural land after conversion into plots not exempt from tax

August 31, 2017 13191 Views 0 comment Print

Synthite Industrial Ltd. Vs CIT (Kerala High Court) Admittedly, the assessee purchased the land which was a rubber estate. The land was purchased to utilize it for the non-agricultural purpose of expansion of its factory. The rubber trees in the land were slaughter tapped which is a process that immediately precedes the cutting and removal […]

What to do if your claim from mediclaim policy is rejected?

August 31, 2017 2043 Views 1 comment Print

Most of the times, amidst having taken a health insurance policies from reputed companies, we end up paying from our pockets. Ignorance is the major cause for us to put ourselves in this situation. Well, you have a policy, spent majorly on an illness but your claim is rejected. I know how frustrated it would have been for you. Ok, what can be done in this situation? Is there a way to get your claim accepted and you get your spending reimbursed?

Procedure to verify First time importers / exporters and Submission of KYC documents

August 31, 2017 39966 Views 1 comment Print

Representations have been received from first time importers / exporters/ other stakeholders highlighting problems faced during verification of documents by Customs. It has been represented that number of documents are being asked from them, which adds to the transaction cost and also delays the import and export shipments.

IRDA Clarification on Aadhaar based e-KYC

August 31, 2017 1416 Views 0 comment Print

Authority vide circular dated 21st October, 2013 and AML Master Circular dated 28th September, 2015 allowed Aadhaar based e-KYC service offered by UIDAI for KYC verification. 2. It is hereby clarified that for accessing the details of the client from UIDAI for identification and authentication shall be with the consent of the client on a voluntary basis.

A Checklist for closing your Home Loan

August 31, 2017 1359 Views 0 comment Print

As someone has said somewhere that Home is the biggest assets for a person, but also it is his/her biggest liability. Whenever, someone has been able to close his/her loan account s/he feels very relieved and also happy. Now the home is his/ her own. Owning a house free of debt is one of the cherished desires of all of us. Home sweet home, we say.

Reg. contracts prior to 5th August, 2017 for import of Pigeon Peas/Toor Dal

August 31, 2017 510 Views 0 comment Print

Trade Notice No. 13 dated 11.8.2017 has provided for import [as per para 2,17 and 9.11 of the Handbook of the Procedure (2015-2020)] of Pigeon Peas/Toor Dal for which irrevocable Letters of Credit have been opened prior to 5th August, 2017 and subsequently registered with the jurisdictional RAs, as per provisions of Para 1.05 of the Foreign Trade Policy (2015-20).

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