CBDT extends time for sending comments on framing rules related to ‘Significant Economic Presence’ till 30-9-2018 vide its Instruction F. No. 370142/11/2018-TPL dated 30th of August, 2018.
(i) These Regulations may be called the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) (Second Amendment) Regulations, 2018. (ii) They shall come into force with effect from the 1st day of September, 2018.
The petitioner seeks a declaration that sub-rule (2) of Rule 5A of the Service Tax Rules, 1994 as substituted by notification no. 23/24/ST dated December 25, 2014 is arbitrary and in conflict with provisions of Section 72A of the Finance Act, 1994. The petitioner also seeks a declaration that, the provisions of clause (k) of subsection (2) of Section 94 of the Finance Act, 1994 is unguided and gives uncontrolled power of delegation. The third prayer is with regard to a notice dated February 16, 2015.
Indirect Taxes Committee of ICAI submits Suggestions on GST Return formats to Finance Minister Arun Jaitley. Suggestion include Suggestion on Monthly Return and Quarterly Return and other issues faced by Taxpayers. ICAI highlighted that 1. Turnover figure to identify the type of taxpayer not be auto populated; 2. Term “Turnover” is not defined to identify […]
The Competition Commission of India (CCI) passed a final order imposing penalty on Panasonic Energy India Co. Limited Panasonic) and Geep Industries (India) Private Limited (Geep) for colluding to fix prices of zinc-carbon dry cell batteries in India. In respect of Panasonic, CCI granted 100 percent reduction in penalty by invoking the provisions of Section 46 of the Competition Act, 2002 (the Act) read with the Competition Commission of India (Lesser Penalty) Regulations, 2009 (Lesser Penalty Regulations).
