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Archive: 18 October 2017

Posts in 18 October 2017

Evidences required to be produced by supplier of deemed export for claiming refund

October 18, 2017 13218 Views 1 comment Print

Seeks to notify the evidences required to be produced by the supplier of deemed export supplies for claiming refund under rule 89(2)(g) of the CGST rules, 2017

Draft Notification of amendment of Income Tax Rule 17A and Form 10A

October 18, 2017 5283 Views 0 comment Print

Vide Finance Act, 2017, a new clause (ab) was inserted in sub-section (1) of section 12A the Income-tax Act, 1961 (the Act) w.e.f 01.04.2018 to the effect that where a trust or an institution, which has been granted registration under sections 12A or 12AA of the Act

Tips for Taxpayers while Installing new version of Offline Tool on GST Portal

October 18, 2017 4524 Views 0 comment Print

Uninstall any previous version of the tool installed on your system. Extract the -OfflineTool.zip downloaded from portal and install by selecting GST offline Tool icon. For detailed instruction, for installation please refer Read Me file in the extracted folder.

CBEC notifies certain supplies as deemed exports under CGST Act, 2017

October 18, 2017 52020 Views 2 comments Print

Central Government hereby notifies following supplies of goods as deemed exports, namely:-Supply of goods by a registered person against Advance Authorization

Are Safe Harbor margins attractive?

October 18, 2017 2532 Views 0 comment Print

Under Transfer Pricing regulation, Safe Harbor rules means binding rules laid down under law which mandates income tax authorities to accept the transfer price declared by the assesse, if opted for. Further section 92CB provides methods for determination of arm’s length price.

An easy understanding of Insolvency & Bankruptcy code 2016

October 18, 2017 12042 Views 1 comment Print

The Insolvency and Bankruptcy Code, 2016 (the Code) passed by the Lok Sabha on 5th May 2016 seeks to provide a framework for time-bound settlement of insolvency by formulating a survival mechanism or by ensuring speedy liquidation through a formal insolvency resolution process (IRP)

Section 247 of Companies Act 2017-Valuation by Registered Valuers- Applicable from 18.10.2017

October 18, 2017 10074 Views 1 comment Print

Central Government hereby appoints the 18th October, 2017 as the date on which the provisions of section 247 of the Companies Act 2013 shall come into force.

EPFO members can link their UAN with Aadhaar online

October 18, 2017 2274 Views 1 comment Print

EPFO is pleased to introduce a new facility for its esteemed members having Universal Account Number (UAN) and other relevant details to link their respective UAN with Aadhaar online. This, in turn, would facilitate the members, a better and speedy EPFO services.

TDS U/s. 194C is not applicable to transactions of purchase of goods

October 18, 2017 33678 Views 0 comment Print

TDS requirement under section 194C is not applicable to transactions of purchase of goods, therefore, no disallowance under section 40(a)(ia) could be made.

Additional Income cannot be treated as undisclosed merely for admission during search

October 18, 2017 1641 Views 0 comment Print

Merely for the reason that the assessee had admitted additional income in the course of search for taxation, it cannot be said that such admitted income was undisclosed income within the meaning of ‘undisclosed income’ provided in Explanation to section 271AAA of the Act to impose the penalty.

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