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The net Direct Tax collections represent 69.2% of the Revised Estimates of Direct Taxes for F.Y. 2017-18 (Rs.10.05 lakh crore).Gross collections (before adjusting for refunds) have increased by 13.3% to Rs.8.21 lakh crore during April 2017 to January 2018.
Now the question arises, whether supply constitute intrastate supply resulting into applicability of CGST plus SGST or constitute interstate resulting into applicability of IGST. Before answering the question in detail, let us decide the following: –
*The company shall h0ld its first board meeting within 30 days of its incorporation 1. APPOINTMENT OF STATUTORY AUDITOR Pursuant to section 139(6) (1) the first auditor of the company, (who is Chartered Accountant), other than a Government company, shall be appointed by the Board of Directors within thirty days (30 days) from the date […]
No e-way bill under rule 138 shall be required to be generated on intra-state movement of goods within the State of Nagaland till the 31st day of May, 2018.
Air Travel Service : – The said service has been used by the Directors/employees of the appellant for business promotion i.e. for sale and purchase of their goods. Therefore, the said service is directly related to their manufacturing activity. In that circumstances, in terms of Rule 2(l) of Cenvat Credit Rules, 2004 on Air Travel Service, the appellant is availed Cenvat credit.
Share premium received can be assessed as undisclosed income if (a) directors are allotted shares at par while others are allotted at premium, (b) the high premium is not justified by a valuation report, (c) the high premium is not supported by the financials, (d) based on financials the value of shares is less and no genuine investor would invest at the premium, (e) there are discrepancies & abnormal features which show transaction as “made up” to camouflage real purpose
In this case, the assessee filed the return of income admitting total income of 98,820/-. A search u/s 132 of the Income Tax Act, 1961 (hereinafter called as the Act) was carried out in the case of M/s. A.S. Steel Traders on 11.10.2012 and in the course of search, the document No.5019 of 2011 of SRO
झrovision of S. 2(22)(e) along with its Explanations – 2 as stood at the relevant point of time, shall only mean that the expression accumulated profits shall only include all the profits of the company up to the date of distribution which are normal revenue profits
Central Government hereby appoints the 09 February, 2018 as the date on which the following provisions of the Companies (Amendment) Act 2017 shall come into force, namely :-
Central Government hereby amends Companies (Registered Valuers and Valuation) Rules, 2017. These rules may be called Companies (Registered Valuers and Valuation) Amendment Rules, 2018.
