Representations have been received from different dealers regarding issuance of declarations in Form-C under the Central Sales Tax Act, for inter-state purchase of High Speed Diesel for use in Captive power generation, mining activity etc., in view of implementation of Goods and Services Tax with effect from 1st July 2017.
As per twitter handle of CBEC there is Substantial reduction in documents required for import & export has expedited the clearance process and contributed in ease of doing business in India. 1. only three documents mandatory for general import and exports. 2. Packing list and commercial invoice merged into a single document for Customs. 3. […]
Officers of CGST Mumbai have arrested two businessmen for creating fictitious invoices and availing ineligible credit. The persons have been arrested for availing input tax credit on the basis of fraudulent invoices against which no actual goods were bought or sold.
Fugitive Economic Offenders Bill, 2018 Bill would help in laying down measures to deter economic offenders from evading the process of Indian law by remaining outside the jurisdiction of Indian courts.
GOvt approved the proposal for establishment of National Financial Reporting Authority (NFRA) and creation of one post of Chairperson, three posts of full-time Members and one post of Secretary for NFRA.
The Central Board of Direct Taxes (CBDT) entered into seven more Advance Pricing Agreements (APAs) during the month of February, 2018. All the seven are Unilateral APAs. With the signing of these Agreements, CBDT has crossed an important milestone of having signed 200 APAs. The total number of APAs entered into by the CBDT till […]
GST Revenue Collections for month of January 2018 (received in January/February upto 25th February) stand at Rs.86,318 crores; 1.03 crore taxpayers have been registered under GST so far till 25th February, 2018. So far 17.65 lakh dealers got registered as composition dealers. Total Revenue Collection under GST: The last date for filing of GSTR 3B […]
Order No. 34 of 2018 President is pleased to appoint the following Income Tax Officers, presently posted in the region shown against their names, in the grade of Assistant Commissioner of Income Tax (ACIT) on ad-hoc basis for the vacancy year 2016-17 in the Level 10 in the pay matrix Rs. 56100-177500/-
In continuation of order No. 138 of 2016 dated 22.07.2016. the President is pleased to extend the ad-hoc appointments of the following Income Tax Officers to the grade of Assistant Commissioner of Income Tax (ACIT) for the vacancy year 2015-16 from 22.07.2017 to 21.07.2018: –
Competition Commission of India (CCI) imposes penalty of Rs. 1,00,60,794/- (Rupees one crore sixty thousand seven hundred ninety four only) on Ghaziabad Development Authority (GDA) for abuse of its Dominant Position; Cease and Desist Order was also issued against GDA. The Competition Commission of India (CCI) has found GDA to be in contravention of the […]
