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Archive: 15 March 2018

Posts in 15 March 2018

Free YouTube Live on The global landscape –  from market’s to trade

May 24, 2024 1116 Views 0 comment Print

Join us for an insightful and dynamic YouTube Live session on “The global landscape –  from market’s to trade.” with renowned financial analyst Ankit Baid, MBA Finance. The presentation explores shifting of the global economic landscape, focusing on the decline of US dominance and the rise of China. It examines the potential decrease in global […]

Live Course on Appeal, Pleading & Drafting under GST by CA Sachin Jain

May 15, 2024 7665 Views 0 comment Print

oin us for an immersive live course led by renowned expert CA Sachin Jain, as we delve into the intricacies of appeal, pleading, and drafting under GST.

Bring in reality in real estate sector to improve economy: Vice President

March 15, 2018 741 Views 0 comment Print

The Vice President of India, Shri M. Venkaiah Naidu has said that real estate developers and builders to bring in reality in real estate sector to improve economy. He was addressing the gathering after inaugurating the two-day CREDAI Conclave, here today.

Suo Motu Rectification of order passed u/s 245D(4) on debatable issue by Settlement Commission not valid

March 15, 2018 2571 Views 0 comment Print

This Petition under Article 226 of the Constitution of India, challenges an order dated 2nd December, 2016 passed by the Settlement Commission (Commission) under Section 245 D(6B) of the Income Tax Act, 1961 (the Act).

IGST / GST refund on Export: CBEC clarifies on 13 Issues

March 15, 2018 74316 Views 2 comments Print

Non-availment of drawback: The third proviso to sub-section (3) of section 54 of the CGST Act states that no refund of input tax credit shall be allowed in cases where the supplier of goods or services or both avails of drawback in respect of central tax.

Interest on bank deposit of equity funds at pre-commencement stage taxable as Other Source Income

March 15, 2018 2670 Views 0 comment Print

Hll Biotech Ltd. Vs ITO (ITAT Cochin) Conclusion: Since assessee-company was still at the pre-commencement stage and during this phase, it had raised equity funds which was invested in fixed deposits of the Banks as well as the holding company and had earned interest on the same, the interest earned had to be taxed as […]

Live Streaming GST Summit 2018: GST 2.0 has hit! Are we prepared?

March 15, 2018 2463 Views 16 comments Print

The evolving GST regime is no less than a farrago of implementation challenges and transmuting tax regulations. Amidst this whirlwind of evolutionary changes, Taxologists are struggling to stay abreast of the latest changes. In a pursuit of finding a robust solution that simplifies taxation end-to-end, leading taxologists are adopting technology to automate GST. Industry leader, […]

Beware of The Black Money Act! 31st March deadline can make people ‘dead’

March 15, 2018 36828 Views 4 comments Print

May be I am already late, with just less than a fortnight for the Financial Year to end.  For, soon after that, the killing provisions of the Black Money Act – a real ‘black’ legislation passed by this Govt. in 2015 – may help the bloodhounds of the Department to begin their devil dancing against […]

Advance ruling on valuation of Supplies to branches in other states under GST

March 15, 2018 5073 Views 0 comment Print

Advance Ruling has been sought on whether such goods supplied to the branches in states other than West Bengal can be valued in terms of the Cost Price under the Second Proviso to Rule 28 of CGST Rules, 2017, instead of 90% of MRP as required under the First Proviso of the same Rule.

Anti-dumping duty on imports of ‘Ofloxacin’

March 15, 2018 720 Views 0 comment Print

Seeks to impose anti-dumping duty on imports of ‘Ofloxacin’ originating in or exported from China PR – Whereas, in the matter of import of Ofloxacin (hereinafter referred to as the subject goods) falling under the tariff item 3004 20 34 of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975) (hereinafter referred to as the Customs Tariff Act)

IGST / Input Tax Credit Refund Fortnight from 15th – 29th March, 2018

March 15, 2018 24006 Views 6 comments Print

Get your pending GST refunds on export of goods sanctioned quickly. CBEC is observing GST refund fortnight across all its field formations from 15th – 28th March, 2018 to deal exclusively with the pending GST refund claims (IGST & ITC.)

E-Waste (Management) Rules, 2016 in relation to import and export

March 15, 2018 11010 Views 1 comment Print

E-Waste (Management) Rules, 2016 in relation to import and export are reproduced below: Rule 2 Application: These rules shall apply to every manufacturer, producer, consumer, bulk consumer, collection centers, dealers, e-retailer, refurbisher, dismantler and recycler involved in manufacture, sale, transfer, purchase, collection, storage and processing of e-waste or electrical and electronic equipment listed in Schedule I, including their components, consumables, parts and spares which make the product operational but shall not apply to –

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