As per decision of the GST Council, e-Way Bill system became mandatory from today i.e. 01st April, 2018 for all inter-State movement of goods. The implementation of the nationwide e-Way Bill mechanism under GST regime is being done by GSTN in association with the National Informatics Centre (NIC) and is being run on portal namely […]
Vide Notification number S.O. 529(E), dated the 5th February, 2018 it was specified that provisions of Accounting Standard 22 or Indian Accounting Standard 12 relating to deferred tax asset or deferred tax liability shall not apply, for seven years to certain Government companies with effect from the 1st April, 2017. Now Government has vide this […]
With the enactment of the Finance Act, 2018, CBEC is renamed as the Central Board of Indirect Taxes and Customs (CBIC). The change was necessitated due to enactment of the Goods and Services Tax (GST) which has consolidated the multiple Indirect Taxes into one tax.
E-way bill provision of GST, first introduced on 1 February 2018 was initially made mandatory for inter-state transportation of goods, having consignment value of more than Rs. 50,000 through road, railways, airways and vessels.
Different GST rates are being applied for mobile and static catering in Indian Railways which is presently leading to a situation whereby the same licensee (selected by Indian Railways/IRCTC) supplying the same food would be subjected to different GST rates depending on whether it is mobile or static catering
INSOLVENCY AND BANKRUPTCY BOARD OF INDIA PRESS RELEASE 30th March, 2018 Insolvency and Bankruptcy Board of India commences valuation examinations The Central Government notified the commencement of section 247 (relating to valuers) of the Companies Act, 2013 with effect from 18th October, 2017. It also notified the Companies (Registered Valuers and Valuation) Rules, 2017 on […]
Decision:The Payment of Gratuity (Amendment) Bill, 2018 has been passed by Lok Sabha on 15th March, 2018 and by the Rajya Sabha on 22nd March, 2018, has been brought in force on 29th March, 2018. Background: The Payment of Gratuity Act, 1972 applies to establishments employing 10 or more persons. The main purpose for enacting […]
THE FINANCE ACT, 2018 received the assent of the President on the 29th March, 2018, and is hereby published for general information:—
It is notified that no e-Way Bill will be required to be generated in Punjab for a period of two months from 1st April, 2018 for movement of goods in connection with intraState supply provided such goods do not cross the State boundary during transit.
Before the introduction of GST regime, transporters were required to carry waybill for facilitating the supply of goods. Since the documents were physical and were obtained from the VAT authorities, the compliance requirements around the waybills were very complicated and thus acted as a hindrance in the transportation of goods across the states.
