"23 January 2018" Archive - Page 4

Changes in GST on Housing Sector WEF 25.01.2018

In order to provide a fillip to the housing and construction sector, GST Council has decided to give exemption to leasing of land by government to governmental authority or government entity....

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GST on services provided by Resident Welfare Associations wef 25.01.2018

Services provided by Resident Welfare Associations (unincorporated body or a registered non-profit entity) to their members were hitherto exempt against contribution of up to an amount of five thousand rupees per month per member. Requests were received from several quarters to enhance the contribution limit of five thousand rupees per...

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Valuation of shares- Make Report from CA admissible- ICAI

The Finance Act, 2012 had inserted clause (viib) in section 56(2) to provide that if the consideration for shares is in excess of the fair value of the shares, the aggregate consideration received in excess of the fair value determined as per method prescribed or substantiated...

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Amendment in GST rate on admission to amusement parks etc wef 25.01.2018

It is expected and hoped that States do not raise the tax on entertainment and amusement levied by the local authorities (Panchayats/ Municipalities/ District Councils) so as to increase the tax burden on the amusement parks. This will ensure that the rate cut in GST is passed on to children....

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Section 40A(3) ICAI suggests on Maintenance of records of Cross Cheques

Any payment for purchase and expenditure otherwise than account payee cheques is disallowed by 30%. Tax auditor has to report in Clause 21(A) that all payments have to be made through account payee cheques or not....

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Incentivise transactions through credit/debit cards and other banking instruments

Large majority of the Indian consumer market is unorganised due to the presence of small businesses across sectors which largely deal in cash, both, when buying products and selling them....

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E- Way Bill Complete Guide

E-WAY BILL- COMPLETE GUIDE E-way bill provisions are all set to take place on February 01, 2018 for all the inter-state movements of goods. The states may choose any date before June 01, 2018 for applying E-way bill provisions on intra- state movements of goods. This means that intra- state movement of goods will also […]...

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CBEC imposes Anti-dumping duty on imports of Toluene Di-Isocyanate

Notification No. 3/2018-Customs (ADD) 23/01/2018

CBEC Seeks to impose definitive anti-dumping duty on imports of Toluene Di-Isocyanate (TDI) originating in or exported from China PR, Japan and Korea RP vide Notification No. 3/2018-Customs (ADD)...

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Celebration of Customs Day and Investiture Ceremony-2018-reg

Circular No.1062/01/2018-Central Excise 23/01/2018

Customs Day and Investiture Ceremony, 2018 is being celebrated on 27th January, 2018 at Plenary Hall, Vigyan Bhawan, New Delhi. All 'Group-A' officers posted in Board are directed to attend the Customs Day and Investiture Ceremony-2018....

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Double taxation in case of buy back of shares by the  company in case of ESOP’s

At the time of buy back of shares (not being shares listed on a recognised stock exchange), by a company from the shareholder, the company is liable to pay income tax on distributed income under Section 115QA of the Act....

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