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

May 4, 2018 23145 Views 0 comment Print

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 […]

SEBI Issues Consultation Paper on“Review of SEBI (Issue of Capital & Disclosure Requirements) Regulations, 2009″

May 4, 2018 1620 Views 0 comment Print

SEBI has placed a Consultation Paper on Review of SEBI (Issue of Capital & Disclosure Requirements) Regulations, 2009 on the website for public comments. Comments are invited on the Consultation Paper latest by May 25,2018.

Expedite process of approval of GST Practitioners: CBEC Chairman

May 4, 2018 1152 Views 0 comment Print

I would also urge the officers to expedite the process of approval of GST Practitioners. A proactive approach in facilitating the enrolment and helping the applicants, in case they have committed any bona fide mistakes while making application, will only further our cause of achieving a trade-friendly image for the department.

Definition of total turnover given U/s. 80HHC / 80HHE cannot be adopted for Section 10A

May 4, 2018 2610 Views 0 comment Print

The definition of total turnover given under Sections 80HHC and 80HHE cannot be adopted for the purpose of Section 10A: HCL Technologies case

CBDT achieves another milestone by signing its 200th UAPA in April, 2018

May 4, 2018 798 Views 0 comment Print

CBDT has entered into one Unilateral Advance Pricing Agreement (UAPA) during April, 2018. With signing of this Agreement, CBDT has achieved another milestone of having signed its 200th UAPA.

Transfer and posting of 196 Income Tax Officer

May 4, 2018 4779 Views 0 comment Print

ORDER 3 of 2018- Sub : Establishment –Gazetted Group ‘B’ – Transfer and posting of Income Tax Officers– AGT-2018- Regarding – The transfer and posting of the following Income Tax Officers are hereby ordered with immediate effect

‘View Pension Passbook’ Service for pensioners through Umang App

May 4, 2018 2775 Views 0 comment Print

Employees’ Provident Fund Organisation (EPFO), which is providing a host of e-services for its stakeholders, has now introduced a new service through ‘UMANG app’. On clicking ‘View Passbook’ option, it requires PPO Number and Date of Birth information to be entered by the pensioner.

IBBI suspends an insolvency professional for charging very high fees

May 3, 2018 7527 Views 0 comment Print

The fee (Rs.13.75 crore comprising IRP fee of Rs. 5 crore for the first one month and RP fee @ Rs.1.75 crore for five subsequent months) contracted by Ms. Ruia is exorbitant and not reasonable reflection of work to be done by her. It is unreasonable by any standard – in relation to the compensation […]

Engagement of CA Firms for Internal Audit of various units of ICAI

May 3, 2018 4233 Views 0 comment Print

ICAI invites applications from eligible Chartered Accountants firms for engagement as Internal Auditors for its various units i.e. Branches, Decentralized Offices and Regional Councils

Set off of unabsorbed business losses against capital income arising through slump sale allowable

May 3, 2018 4401 Views 0 comment Print

Gouranga Cement Pvt.Ltd. Vs DCIT (ITAT Kolkata) It is undisputed fact that the assessee has the earned the long term capital income by way of transfer of the business assets such as factory building, Plant & Machinery, electric installation under the head slum sale. Thus the nature of LTCG is in the nature of business […]

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