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Archive: 12 April 2018

Posts in 12 April 2018

Setting up of Aaykar Sewa Kendras in Pr. CCIT regions in FY 2018-19

April 12, 2018 1032 Views 0 comment Print

Kind reference is invited to the fact that the CBDT has decided to expand the umbrella of its offices having Aayakar Sewa Kendra in F.Y 2018-19 for the purposes of having a more responsive tax administration.

Review of All Industry Rates (AIR) of Duty Drawback for year 2018

April 12, 2018 2214 Views 0 comment Print

Request for views/suggestions and data for review of All Industry Rates (AIR) of Duty Drawback for the year 2018- It is to inform that the Government proposes to review the All Industry Rates (AIRs) of Duty Drawback for the year 2018 with reference to the incidence of Customs and Central Excise duties on goods manufactured for export.

For invoking section 14A r.w. rule 8D, AO had to mandatorily record his satisfaction

April 12, 2018 1725 Views 1 comment Print

At the outset, the learned Authorised Representative submitted that the issue raised by the revenue in second ground of appeal stands covered by the decision of the co-ordinate Bench in assessee’s own case in ITA No. 615/Mum/2014 (AY-2010-11) order dated 4-11-2015

Seizure of goods for not carrying E-way bill before the applicability of the same is illegal

April 12, 2018 9183 Views 0 comment Print

Proactive Plast (P.) Ltd. v. State of U.P. (Allahabad High Court) Rule 138 of the Rules framed under the Central G.S.T. provides that till such time E-Way bill system is developed and approved by the Council, the Government by notification may specify the documents which are to be carried with the consignment of goods. In […]

North East Industrial Development Scheme (NEIDS), 2017

April 12, 2018 12180 Views 0 comment Print

The scheme may be called North East Industrial Development Scheme (NEIDS), 2017. The scheme will cover States of Arunachal Pradesh, Assam, Manipur, Meghalaya, Mizoram, Nagaland, Sikkim and Tripura.

5% GST payable on Royalty to Govt for right to use minerals

April 12, 2018 26511 Views 0 comment Print

In re Pioneer Partners (GST AAR Haryana) The services for the right to use minerals including its exploration and evaluation, as per Sr. No. 257 of the annexure appended to notification no. 11/2017-CT (Rate), dated 28.06.2017 is included in group 99733 under heading 9973. The royalty/dead rent paid/payable to the Government by the applicant is […]

Investments by FPIs in Government and Corporate debt securities

April 12, 2018 525 Views 0 comment Print

It has been decided to revise the CDIL and the limit for investment by FPIs in Government Securities and State Development Loans (SDL), for the Financial Year 2018-19, as follows:

Performance disclosure post consolidation/ Merger of Mutual Fund Schemes

April 12, 2018 693 Views 0 comment Print

Currently, there are no specific guidelines governing the depiction of performance of the surviving scheme, pursuant to merger of schemes. Further, it is observed that Mutual Funds adopt varied practices, such as disclosing the weighted average performance or performance of surviving schemes, while making such disclosures.

Interest rate on Small Savings Schemes for 01.04.2018 to 30.06.2018

April 12, 2018 2448 Views 0 comment Print

Interest rates on Small Savings Schemes for first quarter of financial year 2018-19 starting 1st April , 2018 shall remain unchanged from those notified for fourth quarter of FY 2017-18

LRS for Resident Individuals – daily reporting of transactions

April 12, 2018 1680 Views 0 comment Print

In order to improve monitoring and also to ensure compliance with the LRS limits, it has been decided to put in place a daily reporting system by AD banks of transactions undertaken by individuals under LRS, which will be accessible to all the other ADs.

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