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Archive: 14 November 2017

Posts in 14 November 2017

MGST: Reverse charge on raw cotton in Maharashtra

November 14, 2017 525 Views 0 comment Print

In exercise of the power conferred by the sub-section (3) of section 9 of the Maharashtra Goods and Services Tax Act, 2017 (Mah. XLIII of 2017), the Government of Maharashtra

GST exemptions in Maharashtra as decided in 23rd GST council Meeting

November 14, 2017 711 Views 0 comment Print

All goods, fresh or chilled, All goods [other than fresh or chilled] other than those put up in unit container and, -(a) bearing a registered brand name; or (b) bearing a brand name on which an actionable claim or enforceable right in a court of law is available [other than those where any actionable claim or enforceable right in respect of such brand name has been foregone voluntarily], subject to the conditions as in the ANNEXURE I

MGST: GST Rate on Goods with effect from 15th November 2017

November 14, 2017 1932 Views 1 comment Print

In exercise of the powers conferred by sub-section (5) of section 9 of the Maharashtra Goods and Services Tax Act, 2017 (Mah. XLIII of 2017) (hereinafter referred to as the said Act

An overview of taxation on India ESOPs for US based NRIs

November 14, 2017 2109 Views 0 comment Print

Employee Stock Option Plans (ESOPs) give employees a right to buy company shares at a pre- decided price and it forms part of taxable income. Most senior employees working with blue chip companies get ESOPs regularly and they have to pay tax on their ESOPs.

Examining application of income towards charitable objects while granting registration U/s. 12A not permitted

November 14, 2017 1251 Views 0 comment Print

CIT(E), at the stage of granting registration under section 12A was required to examine objects of society and not the application of income which would to be undertaken by AO on a year to year basis therefore, assessee’s objective being charitable within the meaning of section 2(15), CIT(E) was not justified in denying the registration on the ground that the assessee had not submitted its books of account.

Clarification to pensioners about suggestion to hike exemption limit to Rs. 5 Lakhs

November 14, 2017 1791 Views 0 comment Print

Clarification to pensioners about the hike in exemption limit to Rs 3 Lakhs from Minister of State for Finance Shri. Shiva Pratap Shukla by his letter dated 14th November 2017.

Fighting Tax Crime: The Ten Global Principles

November 14, 2017 1050 Views 0 comment Print

This report sets out the 10 essential principles for effectively fighting tax crimes. It covers the legal, institutional, administrative, and operational aspects necessary for putting in place an efficient system for fighting tax crimes and other financial crimes. It draws on the insights and experience of jurisdictions around the world. The purpose is to allow […]

Effective Inter-Agency Co-Operation in Fighting Tax Crimes and Other Financial Crimes (Third Edition)

November 14, 2017 669 Views 0 comment Print

This report describes the current position in 51 countries as to the law and practice for domestic inter-agency co-operation in fighting tax crimes and other financial crimes including, for the first time, co-operation with authorities responsible for the investigation and prosecution of corruption. It identifies successful practices based on countries’ experiences of inter-agency co-operation in […]

Tax Inspectors Without Borders – Bolstering domestic revenue collection through improved tax audit capacities

November 14, 2017 1512 Views 0 comment Print

International tax experts gathered today at the OECD in Paris to share experiences and identify best practices in the implementation of Tax Inspectors Without Borders (TIWB) programmes.

OECD updates transfer pricing country profiles reflecting transfer pricing legislation and practices

November 14, 2017 1206 Views 0 comment Print

The OECD has published updated versions of transfer pricing country profiles (TPCP), reflecting the current transfer pricing legislation and practices of 31 participating countries. The country profiles contain up-to-date and harmonised information on key aspects of transfer pricing legislation, provided by countries themselves.

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