"06 April 2018" Archive
All about Budget Session 2018 of Parliament; Concluded on 6th April, 2018
Budget Session 2018 of Parliament concludes The Budget Session, 2018 of Parliament which commenced on Monday, 29th January, 2018 has been adjourned sine die today i.e. Friday, the 6th April, 2018. In between both parts of the session, both Houses also adjourned for recess for a period of 23 days on Friday, the 9th February, […]...
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No document needs to be physically submitted for LUT acceptance
Circular No. 40/14/2018-GST - (06/04/2018) -
Exporters to file LUT in FORM GST RFD-11 on the portal only. LUT will be deemed to be accepted as soon as ARN is generated. No document needs to be physically submitted to the jurisdictional office....
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No targets fixed for collection of GST: Govt
No targets for collection of GST have been fixed. In the absence of any past precedent, it shall be difficult to compare the GST revenue collection with the corresponding months of the previous years due to a number of factors like overlap of taxpayers pre and post introduction of GST, variation in exemption limits between Centre and Stat...
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CBDT withdraws Transport allowance of Rs. 1,600 pm
Notification No. 17/2018 - (06/04/2018) -
CBDT has omitted provision related to exemption of transport allowance of Rs. 1,600 per month granted to an employee other than an employee, who is blind or deaf and dumb or orthopaedically handicapped with disability of lower extremities, to meet his expenditure for the purpose of commuting between the place of his residence and the [&he...
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What’s Up? What it is all about?
What’s up is an extremely annoying question that has (unfortunately) replaced Hello or Hi as the most popular form of casual greeting. As per some Dictionaries it is an informal way of saying what's happening. But reality is much different from the dictionary meaning. When a person is faced with this question there is no defined answer ...
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5% Uniform GST to apply in all railway catering services in trains or on stations
With a view to remove any doubt or uncertainty in the matter and bring uniformity in the rate of GST applicable to supply of food and drinks made available in trains, platforms or stations, it has been clarified with the approval of the competent authority that the GST rate on supply of food and drinks by the Indian Railways or Indian Rai...
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7 things to know about new ITR Forms for A.Y. 2018-19
Central Board of Direct Taxes(CBDT) has notified Income Tax Return Forms (ITR Forms) for the Assessment Year 2018-19 vide notification no. 16/2018 dated 03rd April 2018. Few points to be noted about new ITR are as follows:- 1. Simplified one page ITR Form-1 (Sahaj) can be filed by an individual who is resident other than […]...
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Enhancement of Gratuity Limit with effect from 29/03/2018
The Government has issued Notification the same day wherein gratuity limit has been increased from Rs.10 lakhs to Rs.20 lakhs under the Payment of Gratuity Act, 1972....
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Download Sahaj (ITR 1), 2, 3, Sugam (ITR-4), 5, 6, 7 for A.Y. 2018-19
CBDT has vide notification No.16/2018 dated: 03rd April 2018 released ITR-1 SAHAJ, ITR-2, ITR-3, ITR-4-Sugam, ITR-5, ITR-6, ITR-7 and Acknowledgement- ITR-V for Assessment Year 2018-19 / Financial Year 2017-18 and Same can downloaded in PDF Format (Return Filing Utilities are also expected to be released soon) from the links given below:-...
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For limitation U/s. 158BE, period is to be counted from the date on which the direction U/s. 142(2A) is served on the assessee
CIT Vs Amar Nath Arora (Rajasthan High Court) -
1. Whether the findings of the Tribunal are perverse in holding that for the purpose of limitation under section 158BE, the period is to be counted from the date on which the direction under section 142(2A) is served on the assessee and not from the date of issue of direction by the assessing officer under section 142(2A) ?...
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