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Archive: 27 November 2017

Posts in 27 November 2017

Postmortem of Union Budget 2024: A Comprehensive Webinar

July 18, 2024 5097 Views 3 comments Print

Join our webinar on July 24-25 for an in-depth analysis of Union Budget 2024. Learn about tax proposals, sector impacts, and investment insights. Register now!

Live Course on 360 degree Analysis of Input Tax Credit from a Litigation Perspective

July 18, 2024 4389 Views 0 comment Print

Join CA Sachin Jain for a live course on Input Tax Credit from a litigation perspective. Gain practical insights and master ITC complexities. Register now!

3 reasons for downward trend of tax revenue under GST

November 27, 2017 19140 Views 4 comments Print

Because of the first time requirement of paying IGST on transfer of goods from one state to another state even within the same company, there was an additional cash flow of IGST in the first 3 months. As and when the final transaction of these goods takes place, the credit for IGST is being utilized for payment of SGST and CGST and therefore, the inflow of new taxes is low;

Constitution of Fifteenth Finance Commission Notified

November 27, 2017 1299 Views 0 comment Print

The Government of India, with the approval President of India, has constituted Fifteenth Finance Commission in pursuance of clause (1) of article 280 of the Constitution, read with the provisions of the Finance Commission (Miscellaneous Provisions) Act, 1951 w.e.f. 27th November, 2017.

CBEC invites Comments on “Know Your Customer (KYC) norms”

November 27, 2017 5484 Views 0 comment Print

Board has also decided to simplify the norms for KYC verification in the light of introduction of Goods & Services Tax (GST) and in view of the emphasis of government on adoption of a unified identifier. Accordingly, in modification of the earlier instructions

Acceptance of Transfer Pricing MAP and bilateral APA – Reg.

November 27, 2017 1074 Views 0 comment Print

Clarification of India’s position on the acceptance of MAP and bilateral APA in cases of countries where Article 9(2) of OECD Model Tax Commentary is absent

GST: 28 Latest FAQs on GST as replied by Govt on Twitter

November 27, 2017 10692 Views 1 comment Print

I have submitted Bank guarantee and bond for export purpose. Now as per notification no. 37/2017- Central Tax, I am eligible to export under LUT. When can I take back BG & bond and instead submit LUT?

Indian Customs and Simplification of Customs Procedures- An Overview

November 27, 2017 12012 Views 1 comment Print

Customs is an authority or tax collection wings are being appointed by the Government in every country for controlling and for collecting of tax on the flow of goods, including live animals and hazardous items into and out of a country.

Sale of Goods from Customs Bonded Warehouse

November 27, 2017 60276 Views 2 comments Print

Chapter IX of the Customs Act, 1962 provides for deposit of goods into a customs bonded warehouse licensed under section 57 or 58 or 58A without payment of duty and the procedures to be followed with respect to the warehoused goods. Sub-section (5) of section 59 provides that the importer is at liberty to transfer the ownership of such goods to another person while the goods remain deposited in the warehouse. Trade has expressed doubts over applicability of GST when such Transfer of Ownership takes place, while the goods remain deposited in the warehouse. To clarify the issue CBEC issued a Circular No. 46/2017-Customs; Dated 24th November 2017. The essence of the Circular decoded here in this article:

GST compliance for composition dealer

November 27, 2017 6858 Views 3 comments Print

In last article on Composition scheme, we discussed the meaning of composition scheme and its related provisions. In this article we will discuss the compliance part of composition scheme.

How to Save Premium Cost on your Life Insurance Purchase

November 27, 2017 2115 Views 0 comment Print

Buying a life insurance policy is the most convenient way to ensure the financial security of your loved ones. If you are planning to buy a life insurance policy, the amount of premium payable will be your major concern. The amount of premium is decided by the insurance companies considering various factors. While insurance companies […]

How to remove negative flag from my credit report

November 27, 2017 9840 Views 0 comment Print

Negative flags on your credit report not only remind you of your past financial mistakes but they also ruin your future financial plans. Whether the negative remarks occur due to your own mistakes or due to the negligence on the part of the credit bureau, you must make efforts to get rid of them. After all your credit report affects the most important financial measure, that is the credit score.

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