Facility to edit/revise / Amend/ Form GST TRAN-1 filed after 08-11-2017 enabled. Taxpayers can now file revised FORM GSTR-1 related to Transitional ITC Credit on stock even if it results in downward credit. In such cases, the difference will be added to their liability.
1. These rules may be called the Companies (cost records and audit) Amendment Rules, 2017. 2. In the Companies (cost records and audit) Rules, 2014 (hereinafter referred to as the principal rules), in rule 2, after clause (f), the following clause shall be inserted and shall be deemed to have been inserted with effect from the 1st day of April, 2016, namely:-
PUNJAB NATIONAL BANK invites applications for empanelment of Forensic Auditors for the period 2018-2019. Criteria of qualifications, experience, scope of work, application forms, undertakings, addresses of the Zonal Offices etc. are enclosed. Auditors already empanelled with the bank need not apply again. Please note that applications and copies of the qualification, experience, undertakings etc. be […]
The objective of ASLB 20, ’Related Party Disclosures’ is to require the disclosure of the existence of related party relationships where control existsand the disclosure of information about transactions between the entity and its related parties in certain circumstances.This information is required for accountability purposes and to facilitate a better understanding of the financial position and performance of the reporting entity.
Other suggestions include reduction in Dividends Distribution Tax and to bring down the maximum rate of Income Tax to 20% to encourage investment, at par with other development countries. It was also suggested to create Regulations Free Export Zone for setting-up 100% Export Oriented Units both by domestic and foreign investors which in turn would help not only in creating employment opportunities but also in earning foreign exchange for the country.
It was also suggested to give various tax reliefs to the plantation companies for the expenses incurred by them to provide welfare facilities to their workers under the Plantation Labour Act 1951. Similarly, considering the variations in the Agriculture Income Tax (A.I.T.) from State to State, Rules 7A, 7B and 8 and the Income Tax Rules may provide for rebate against the liability of tax under C.I.T. to the extent of additional amount paid on account of higher A.I.T.
Other demands include the raising of the ceiling for Income Tax purposes for Salaried Class persons and Pensioners up to Rs.5 Lakh per annum; and Rs.8 Lakh in case of Senior citizens. Other suggestions include GDP Growth should be translated in full basket; Income Gap between rich and poor be checked by taxing rich people who can afford to pay; Workers of un-organized Sector be given benefit of EPF; and Agriculture Reforms be undertaken to generate employment etc.
FM: Ask the officers of the Directorate of Revenue Intelligence (DRI) to keep pace with technology and use the latest technological tools such as data analytics in fighting the menace of smuggling of sensitive contraband items such as gold and narcotics among others.
It was held that petition shall not be entertained with the observation that since the Government machinery was geared up, the petitioner could not urge or seek directions to postpone the decision of implementation from 01.07.2017.
In the present case, it is stated that the Petitioner has already paid the Clean Energy Cess under Chapter VII of the Finance Act, 2010 CFA 2010′) on the coal lying in stock on 30th June, 2017. Such stock is stated to be around 2,85,418 tonnes, on which the cess already paid is to an extent of Rs. 11.41 crores.
