"27 July 2018" Archive

Time & cost involved in tax compliance to reduce dramatically: CBIC Chairman

D.O.No.5/CH(IC)/ 2018 (27/07/2018)

The 28th meeting of the GST Council was held on 21st July, 2018. Several important and consumer friendly decisions have been taken in the meeting. The time and cost involved in tax compliance has also been dramatically reduced by enabling businesses with an annual turnover of up to Rs. 5 Crore to file quarterly returns, in lieu of monthly...

Read More

MCA notifies 2 more sections of Companies (Amendment) Act, 2017

Notification No. S.O. 3684(E) (27/07/2018)

MCA has issued Companies (Incorporation) Third Amendment Rules, 2018 and amended Companies (Incorporation) Rules, 2014 for Substitution of Explanation to Rule 3(1) relating to the meaning of the term ‘Resident in India’ and Rule 15 pertaining to Affidavit from Subscribers and First Directors. to give effect to such rules MCA has notif...

Read More

Companies (Incorporation) Third Amendment Rules, 2018

Notification No. G.S.R. 708(E) (27/07/2018)

MCA has notified vide notification dated 27th July, 2018 Companies (Incorporation) Third Amendment Rules, 2018 to amend the Companies (Incorporation) Rules, 2014. GOVERNMENT OF INDIA MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi 27 July, 2018 G.S.R. 708(E)._ In exercise of the powers conferred by section 3, sub-section (1) of secti...

Read More

CG constitutes National Company Law Tribunal, Kochi Bench at Kochi

Notification No. S.O. 3683(E) (27/07/2018)

Central Government hereby constitutes the National Company Law Tribunal, Kochi Bench at Kochi and for the said purpose hereby makes the following further amendments in the notification of the Government of India, Ministry of Corporate Affairs number S.O. 1935 (E), dated the 1st June, 2016, namely:—...

Read More

GST payable on amount billed by Taxi Aggregator on behalf of taxi operators

In re Opta Cabs Private Limited (GST AAR Karnataka)

In re Opta Cabs Private Limited (GST AAR Karnataka) Whether the money paid by the customer to the driver of the cab for the services of the trip is liable to GST and whether the applicant company is liable to pay GST on this amount? The applicant is liable to tax on the amounts billed […]...

Read More

GST on Services by corporate office to unit in other states as well i.e. distinct persons

In Re M/S Columbia Asia Hospitals Private Limited (GST AAR Karnataka)

In Re M/S Columbia Asia Hospitals Private Limited (GST AAR Karnataka) Whether the activities performed by the employees at the corporate office in the course of or in relation to employment such as accounting, other administrative and IT system maintenance for the units located in the other states as well i.e. distinct persons as per [&he...

Read More

GST on deposit of diamond with safe vaults, Conversion in e-Units and vica versa

In re Rajarathnam’s Jewels (GST AAR Karnataka)

In re Rajarathnam’s Jewels (GST AAR Karnataka) a) Whether mere deposit of diamond with safe vaults acknowledged by Electronic Vault Receipts (EVR) would be treated as supply for the purpose of levy of GST? The mere deposit of diamond with safe vaults acknowledged by Electronic Vault Receipts (EVR) does not constitute of supply of diamon...

Read More

TDS on Salary – Section 192 – FAQ & Important Circulars

Article presents Questions and Answers on Section 192 of Income Tax Act, 1961 related to TDS on Salary. Q.1. Who is responsible to deduct tax on Salary under Section 192 of Income Tax Act, 1961? A.1. All persons paying salary are responsible to deduct TDS on income chargeable under the head “Salary”. In other words […]...

Read More

GST rate reduction & passage of Prevention of Corruption (Amendment) Bill, 2013

All household items stand reduced from 28 percent to 18 percent and 12 percent. All items of construction except cement stands reduced. Most white goods stand reduced. ...

Read More

Due date of Filing TDS statement

To bring Uniformity and to give deductors sufficient time in filing of TDS Statement CBDT has vide Notification No. 30/2016 Dated: 29.04.2016 has revised due date for filing above referred TDS statements for Government and non-governemnt deductors wef 01.06.2016 to as follows :-...

Read More