"04 May 2018" Archive

GST: Two GoMs to consider Sugar Cess & incentive on digital payment

Two Group of Ministers Constituted to consider the issues relating to Incentivizing digital payments in the GST regime & Imposition of Cess on Sugar under GST. ...

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7 key elements of new GST return design approved by GST Council

Press Information Bureau Government of India Ministry of Road Transport & Highways Dated: 04-May-2018 GST Council approves principles for filing of new return design based on the recommendations of the Group of Ministers on IT simplification GST Council today in its 27th meeting approved principles for filing of new return design base...

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GSTN be converted into fully owned government Company

Presently, the Central Government and State Government are holding 24.5% equity shares respectively and the remaining 51% are held by non-Governmental institutions and through various mechanisms, GSTN is under strategic control of government. ...

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Change in GST rate for digital transactions & imposition of Sugar Cess

Keeping in view the need to move towards a less cash economy, the Council has discussed in detail the proposal of a concession of 2% in GST rate [where the GST rate is 3% or more, 1% each from applicable CGST and SGST rates] on B2C supplies...

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Protocol to amend India-Kuwait DTAA notified

Notification No. S.O. 1823(E)-Income tax [S.O. 1823(E)] (04/05/2018)

S.O. 1823(E).—Whereas the Protocol amending the Agreement between the Government of the Republic of India and the Government of the State of Kuwait for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income which was signed at New Delhi on 15th June, 2006 has been signed at Kuwait on the 15...

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Reports on Regulations related to Market Infrastructure Institutions for comment

PR No.: 11/2018 (04/05/2018)

SEBI seeks public comments on Reports submitted by Committee on Review of Regulations and Relevant Circulars pertaining to Market Infrastructure Institutions (MIIs)...

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Modification in Partial Withdrawal rules under NPS

Modification in Partial Withdrawal rules under NPS: Partial withdrawals will now be allowed to NPS subscribers who wish to improve their employability or acquire new skills by pursuing higher education/ acquiring professional and technical qualifications. Further, individual NPS subscribers who wish to set up a new business/ acquire new b...

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GST on Power Bank used to charge portable devices: AAR Haryana allowed application withdrawal

In re  EPCOS India Pvt. Ltd. (GST AAR Haryana)

In re  EPCOS India Pvt. Ltd. (GST AAR Haryana) Question Raised- Whether the product power bank which is used to charge portable devices can be classified under heading 8504 – having description “Electrical Transformers, Static converters (For Example, Rectifiers) And Inductors? Held by GST AAR Haryana Before the applicant could be pr...

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IGST payable by importer on ocean freight in case of CIF basis contract: AAR

In re Bahl Paper Mills Ltd. (AAR Uttarakhand)

In re Bahl Paper Mills Ltd. (AAR Uttarakhand) (a) Whether under Reverse Charge Mechanism, IGST should be paid by the importer on ocean freight in case of CIF basis contract, when service provider and service recipient both are outside the territory of India. In this regard it is observed that vide notification no. 8/2017- Integrated [&hel...

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Order No. 61 of 2018- Transfer & Posting of ACIT/DCIT grade

Order No. 61 of 2018 (04/05/2018)

Order No. 61 of 2018 The following transfers/postings in the grade of Assistant / Deputy Commissioner of Income Tax are, hereby, ordered with immediate effect and until further orders:-...

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