"01 February 2018" Archive - Page 3

State-wise list of GST notifications/circulars in relation to E-way bills

ANDHRA PRADESH Inter-State supply – Notification No. – G.O.Ms.No.34, Dt. 24/01/2018 Intra-State supply – Notification No. – G.O.Ms.No.34, Dt. 24/01/2018 ARUNACHAL PRADESH Inter-State supply – Not yet notified Intra-State supply – Not yet notified ASSAM Inter-State supply – Circular No. 01/2018-GST, No. CT/GST-15/...

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Customs Rate of exchange of foreign currency wef 02.02.2018

Notification No. 11/2018-Customs (N.T.) (01/02/2018)

Notification No.11/2018-Customs (N.T.) CBEC hereby determines that the rate of exchange of conversion of each of the foreign currencies wef 02.02.2018...

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ICAI President’s Message – February 2018

As you may be aware, World Bank’s Global Economic Prospects has estimated that India is likely to regain the position as the fastest growing economy in 2018 with growth expected to accelerate to 7.3 per cent in the year. For 2017...

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What investors can take away from 69th Republic Day speech

This year’s Republic Day witnessed India host the leaders of 10  Association of South East Asian Nations (ASEAN), which included Singapore, Thailand, Indonesia, Vietnam, Philippines, Malaysia, Cambodia, Myanmar, Laos and Brunei. The aim of Prime Minister Narendra Modi was to highlight the sovereign equality of these nations and broad b...

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Budget 2018: Notes on clauses of Finance Bill 2018

Income-tax Clause 2, read with the First Schedule to the Bill, specifies the rates at which income-tax is to be levied on income chargeable to tax for the assessment year 2018-2019. Further, it lays down the rates at which tax is to be deducted at source during the financial year 2018-2019 from income other than […]...

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Budget 2018: New Railways in New India Budget

Railways to electrify the entire network. 600 Stations are to be developed with world class facilities. Escalators to be provided at all stations with passenger footfall above 25,000. Stations and trains will be provided with wi-fi facility for information and entertainment; CCTV cameras across all stations and trains for security...

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Budget 2018: Tax incentives for International Financial Services centre

Tax incentives for International Financial Services centre. Transfer of derivatives and certain securities by non-residents exempted from capital gains tax. Non-corporate taxpayers operating in IFSC to be charged alternate minimum tax at concessional rate of 9% at par with minimum alternate tax applicable for Corporates. ...

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Incentive for Real Estate: No Adjustment to be Made if Circle Rate Value does Not Exceed 5% of Consideration

Shri Arun Jaitley proposed that no adjustment shall be made in a case where the circle rate value does not exceed 5% of the consideration. While presenting the General Budget 2018-19 in Parliament here today, he said, Currently, while taxing income from capital gains, business profits and other sources in respect of transactions in immova...

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Benefits U/s. 80JJAA to Footwear & Leather Industry to Help Employment Generation

Currently, a deduction of 30% is allowed in addition to normal deduction of 100% in respect of emoluments paid to eligible new employees who have been employed for a minimum period of 240 days during the year under section 80-JJAA of the Income-tax Act....

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Budget 2018 proposes Social Welfare Surcharge On Imported Goods

Shri Arun Jaitley proposed to abolish the Education Cess and Secondary and Higher Education Cess on imported goods, and in its place impose a Social Welfare Surcharge. While presenting the General Budget 2018-19 in Parliament today, Shri Jaitley elaborated that the Social Welfare Surcharge at the rate of 10% of the aggregate duties of Cus...

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