"January, 2018" Archive - Page 30

Notification No.05/2018-State Tax- Reduction of late fee in case of delayed filing of FORM GSTR-5

Notification No. 5/2018 –State Tax (No. GST. 1018/C.R.12(2)/Taxation-1) (24/01/2018)

No. GST. 1018/C.R.12(2)/ Taxation-1.— In exercise of the powers conferred by section 128 of the Maharashtra Goods and Services Tax Act, 2017 (Mah. XLIII of 2017) (hereafter in this notification referred to as the said Act)...

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MGST- Reduction of late fee in case of delayed filing of FORM GSTR-1

Notification No. 4/2018–State Tax (No. GST. 1018/C.R.12(1)/Taxation-1) (24/01/2018)

No. GST. 1018/C.R.12(1)/ Taxation-1.— In exercise of the powers conferred by section 128 of the Maharashtra Goods and Services Tax Act, 2017 (Mah. XLIII of 2017) (hereafter in this notification referred to as the said Act)...

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Notification No.03/2018-State Tax-Maharashtra Goods and Services Tax (Amendment) Rules, 2018

Notification No. 3/2018–State Tax (No. GST-1018/C.R.14/Taxation-1) (24/01/2018)

No. GST-1018/C.R.14/Taxation-1.—In exercise of the powers conferred by section 164 of the Maharashtra Goods and Services Tax Act, 2017 (Mah. XLIII of 2017), the Government of Maharashtra hereby makes the following rules further to amend the Maharashtra Goods and Services Tax Rules, 2017...

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ICAI suggests increase in Limits for various salary related allowances exempt from tax

Monetary limits in the Income-tax Act, 1961 Issue/Justification The monetary limits for all exemptions or deductions were provided long back. In has been long since the same have been revised considering the prevailing inflationary conditions in India. An effort has been made to compile all such monetary limits with the Cost inflation ind...

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ICAI suggests Form 26AS based TDS credit claims during assessment proceedings

TDS credit should be allowed on the basis of Form 26AS, even if the payee has not claimed the same in the return of income (due to non updation of Form 26AS) but has claimed TDS credit during the assessment proceedings (during which time the updated TDS credit is reflected in Form 26AS)...

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Make Provision for employer to provide tax treaty benefits while calculating TDS: ICAI

Under the current tax regime, there is no provision under the Act which enables an employer to consider admissible benefits under the respective Double Taxation Avoidance Agreements (e.g. credit for taxes paid in another country/ treaty exclusions of income etc.)...

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Celebration of Customs Day and Investiture Ceremony-2018-reg.

Circular No. 1062/01/2018-CX (23/01/2018)

The 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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Develop system to issue Lower deduction certificate u/s 197 through TRACES Site: ICAI

TDS CPC has been one of the successful projects of the Government for online tracking of the Tax deducted, deposited, corrections and reconciliations....

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Dispense requirement for issue or obtaining of TDS certificate in Form 16A: ICAI

Section 203 of the Act requires the deductor of TDS to issue the TDS certificate to the deductee to the effect that tax has been deducted and specifying the amount so deducted....

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Provide relief from TDS on monthly and year end provision entries: ICAI

Most of the companies record provision entries made towards various expenditures on a monthly basis to report performance to the parent entities that are reversed on the first day of the subsequent month....

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