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Archive: September, 2017

Posts in September, 2017

MGST: Waiver of late fee for Registered persons who have not filed GSTR-3B

September 7, 2017 777 Views 0 comment Print

No. MGST-1017/C. R. 150/Taxation-1.—In exercise of the powers conferred by section 128 of the Maharashtra Goods and Services Tax Act, 2017 (Mah. XLIII of 2017) (hereinafter referred to as the said Act), the Government of Maharashtra, on the recommendations of the Council, hereby waives the late fee payable under section 47 of the said Act

ROC uploads list of directors disqualified U/s. 164(2)(a)

September 7, 2017 15585 Views 4 comments Print

Section 164 of Companies Act, 2013 deals with Disqualifications for Appointment of Director and Section 164(2)(a) disqualifies a person from being a director who is or has been a director of a company which (a) has not filed financial statements or annual returns for any continuous period of three financial years; ROC has put list […]

Defining jurisdiction of customs officers for the purpose of audit

September 7, 2017 2535 Views 0 comment Print

CBEC hereby appoints the officers mentioned in column (2) of the Table below to be the Principal Chief Commissioners of Customs or Chief Commissioners of Customs, for the areas of jurisdiction falling within the jurisdiction of the Commissioner of Customs( Audit)

Rate of exchange of conversion of foreign currency WEF 08.09.2017

September 7, 2017 1173 Views 0 comment Print

Customs Notification No. 84/2017 – Dated: 7-9-2017 – Cus (NT)- Rate of exchange of conversion of the foreign currency with effect from 8th September, 2017

Definitive CVD on import of Hot / Cold Rolled Stainless Steel Flat Products

September 7, 2017 4143 Views 0 comment Print

Seeks to impose definitive Countervailing duty on the imports of Certain Hot Rolled and Cold Rolled Stainless Steel Flat Products originating in or exported from China PR – 1/2017-Customs(CVD) – Anti Dumping Duty

CBEC reduces BCD on raw sugar upto a quantity of 3 lakh MT from 50% to 25%

September 7, 2017 720 Views 0 comment Print

Seeks to further amend notification No.50/2017-Customs dated the 30th June, 2017, so as to reduce the BCD on raw sugar[1701] upto a quantity of 3 lakh MT from 50% to 25% subject to the Tariff Rate Quota Allocation Certificate or license, as the case may be, issued by DGFT

Clarifications on Guidelines on insurance e-commerce and electronic issuance of insurance policies

September 7, 2017 2508 Views 0 comment Print

The Authority as part of its developmental mandate and to reach out to the policyholders in a cost efficient manner has taken number of steps. This includes issuing revised guidelines on insurance repositories, insurance e-commerce, issuance of electronic insurance policies, maintenance of electronic records, etc.

Follow Board’s Instructions in collection of Duty: CBEC

September 7, 2017 2448 Views 0 comment Print

Recently, in the case of a manufacturer of Mobile Phone Batteries, LED, Charger, etc. in Delhi, the officers of Anti Evasion Branch of erstwhile Central Excise Delhi-II Commissionerate, with the approval of competent authority, had visited the premises of the assesse. On scrutiny of records of the assessee it was found that the assessee has not paid/discharged Central Excise duty as was due.

No Tax audit for Turnover less than 1 crore & net profit less than 8%

September 7, 2017 505324 Views 61 comments Print

Due to amendment in Finance Act, 2016, applicability of Tax audit in cases where turnover is less than 1 crore and net profit less than 8%, tax audit will not be required to be conducted.

How Imports and Exports Treated in GST

September 7, 2017 16086 Views 3 comments Print

Introduction:- Taxation laws have laid down the taxes applicable on import and export of goods and services. In the current tax regime, laws of Customs duty, Excise, Service Tax and VAT lay down the tax treatment of imports and exports. In the GST regime, Excise, Service Tax and VAT will be subsumed into GST and […]

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