The Central Government is continuously working to curb and stop black money circulations in our country. In order to achieve their motto Central Government has introduced provisions of Section 269ST and 271DA in the Income Tax Act, 1961, with effect from 1st April, 2017.
The Chartered Accountant day celebrations of 1st July 2018 are over now and more or less all the candidates for central council and regional councils have knocked the doorbells of the members of the Institute of Chartered Accountants of India by way of their declaration of candidature on this auspicious day. The elections shall be […]
In this, respect the Central Board of Direct Taxes (CBDT) had as of late told that the due date for connecting PAN card with Aadhaar with the end goal of income tax return filing has been reached out till 31st March 2019.
Before the implementation of GST, the Gems and Jewellery trade attracted Excise duty @ 1% and State VAT in range of 1% – 1.2% highest being 5% in the state of Kerala. It also attracted Import duty of 10%. Post GST a special rate has been carved out for Gems and Jewellery trade at 3% whereas Un finished Precious and Semi-Precious stones attracted GST @ 0.25%. Custom Duty continues on import at 10%. Wef 18/03/2018 all types of Precious stones attracts tax rate of 0.25%
Under GST, the advance ruling is a written decision given by the Authority for Advance Ruling to an applicant on questions relating to the supply of goods/services etc. An Applicant would like to be clear in his mind about various aspects of his venture and risks involved before he starts a new business.
With respect to opening WDV in case of the foreign company whose PoEM is determined in India and which is assessed to tax in the home jurisdiction, the final notification provides for 2 cases:
It has been decided to allow imports of Peas under Exim Code 0713 1000 against advance payments for that much quantity proportional to the part advance payment made before 25.04.2018.
The hurriedly constituted panel by the government under the chairman ship of Mr. Sunil Mehta, Chairman, Punjab National Bank (is it by default or design?) does not necessarily inspire confidence in finding the solution for the vexed problem of NPAs of the public sector banks and is it being done so as to dilute the […]
Profiteering is a pejorative term for the act of making a profit by methods considered UNETHICAL. Anti profiteering is a mechanism to curb profiteering. Anti profiteering prevent entities from making excessive profits due to GST.
The next elections to the Council and the Regional Councils of the Institute of Chartered Accountants of India are scheduled to be held on 7th and 8th December, 2018 in cities having more than 2500 members and on 8th December, 2018 at all other places
