Following amendments have been made in the Prevention of Money-laundering Act, 2002 (PMLA) through Finance Act 2018. The Amendments aim at further enhancing the effectiveness of the Act, widen its scope and take care of certain procedural difficulties faced by the Enforcement Directorate in prosecution of PMLA cases.
We reported on 1st February that Government has suspended Compulsion of E-Way bill on the day of it start itself due to technical issues. We reported on the basis of Tweet on official handle of CBEC. Now CBEC has official notified Suspension of E-Way Bill system vide notification No 11/2018 CGST. Text of Notification is […]
In order to align the definition of taxable commodities transaction with instruments allowed for transaction in commodity derivatives, it is proposed to amend the clause (7) of section 116 so as to include options in commodity futures in the definition of taxable commodities transactions
CA Bimal Jain Mr. Arun Jaitley today presented the final full budget of Modi government before the country goes to polls next year, amid subdued economic growth and challenging fiscal situation. Given that rural India constitutes two-thirds of the country’s population, the agricultural sector is generously rewarded in this Budget along with education, healthcare and […]
Official Twitter handle of CBEC said that In view of difficulties faced by the trade in generating e-way bill due to initial tech glitches, it has been decided to extend the trial phase for generation of e-way bill, both for inter and intra-State movement of goods. It shall be made compulsory from a date to […]
Q1. What is an E Way Bill? Ans. E-way bill (FORM GST EWB-01) is an electronic document (available to supplier/ recipient / transporter) generated on the common portal evidencing movement of goods of consignment value more than Rs. 50000/-. It has two Components-Part A comprising of details of GSTIN of supplier & recipient place of […]
Now LTCG on shares on stock exchange will be taxable @10% for gain exceeding Rs. 1,00,000 and the benefit of indexation will also not be given. This change seems a bit inappropriate because since the STT is still there and STT was introduced to set LTCG on shares free. Capital gains made on shares until Jan 31 will be grandfathered. So,with this tax regime focus may shift to Trading instead of investing.
Procedure for Investor Education & Protection Fund: 1. Pass a resolution authorizing the Company Secretary or any other person:- To sign the delivery instruction slips for transferring the shares held in demat.
Finance Minister Shri Arun Jaitley presented general Budget for 2018.This is the first budget after enforcement of GST. GST revenue will be collected for 11 months and that would impact balance sheets. Rs 21.57 lakh crore transferred in the form of net GST against the predicted Rs 21.47 lakh.
Government has not proposed any changes in tax slabs for the salaried class this year. So the effective tax rates will be same as last year, as follows;
