"14 December 2018" Archive

Average GST collection for FY 2018-19 is Rs. 97,040 crore

Goods and Services Tax Collections The month-wise gross collection of Central Goods and Services Tax (CGST), State Goods and Services Tax (SGST), Integrated Goods and Services Tax (IGST) and Cess for FY 2017-18 and FY 2018-19 are as under:   Month GST collection (in Rs. Crore)       2017-18 2018-19 April — 1,03,459 May […...

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RBI Autonomy within RBI Act Framework is essential governance requirement

The autonomy for the Central Bank, within the framework of the Reserve Bank of India (RBI) Act, is an essential and accepted governance requirement. The Government asked RBI for a review of its Economic Capital Framework (ECF) adopted in 2016....

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E-Returns Filed by Individual Tax Payers during last four financial years

E-Returns Filed by the Individual Tax Payers There has been a growth in the number of e-Returns filed by the individual tax payers during the last four years. The number of income-tax returns filed and the annual growth rate during the last four financial years are as under: Financial Number of Income Tax Returns Growth […]...

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Govt identifies GST evasion of Rs. 12766.85 Crore

Suspected GST Evasion amounting to Rs. 12766.85 has come to the light till the month of November, 2018. An amount of Rs. 7909.96 Cr. has been recovered during the period April 2018 to November 2018. The State-Wise details of detection of GST Evasion cases and recovery are as under:...

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Alternative Dispute Resolutions Forum

Settlement Commission: It functions under the Ministry of Finance and allows the applicant an opportunity to undisclosed income and settle its cases. The taxpayer can approach the commission when his/her case is pending before a tax authority. The key reason for a taxpayer to approach the commission is the power of the commission to grant...

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CA : But Why ONLY CA?

It's about the position of a CA in the current scenario....

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Investigation, Search, Seizure & Arrest under CGST Act & Rules

Since GST applicable, it has legal procedures too, for Inspection, Search, Seizure & Arrest which, we should first consider the legal provision for not following the provisions contain under CGST Act or rules made thereunder. So get ready to give a glance for not following provision stated in the GST Act or rules made there […]...

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Cyber Security Operations Center for the SEBI registered intermediaries

Circuar No CIR/MRD/CSC/151/2018 14/12/2018

Securities and Exchange Board of India CIRCULAR CIR/MRD/CSC/151/2018 December 14, 2018 To, All Stock Exchanges, Clearing Corporations and Depositories (except Commodities Derivatives Exchanges and their Clearing Corporations). Dear Sir / Madam, Cyber Security Operations Center for the SEBI registered intermediaries 1. Recognizing the need...

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CBIC to notify WON and TRY in list of currencies for exchange rate

Under section 14 of the Customs Act, 1962, Central Board of Indirect Taxes and Customs (CBIC) notifies the rate of exchange for the purpose of conversion of foreign exchange to Indian Rupees and vice versa for assessment of imports & exports....

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Refund – Limitation – Time taken by Ministry to be excluded

JSW Dharmatar Port Pvt. Ltd. Vs Union of India (Bombay High Court)

Bombay High Court has held that time consumed by the concerned Ministry in granting certificates required for retrospective exemption and refund must be ignored....

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