Cabinet approves the protocol amending the Agreement between India and Kyrgyz for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has given its approval for the protocol amending the Agreement between India and Kyrgyz Republic […]
Cabinet approves Agreement between India and the Hong Kong Special Administrative Region of China for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with respect to taxes on income
The decision of GST Council on pruning of the 28% slab list would be a welcome move for many industries in mass consumption space. In certain cases, it is also likely to bring down the total tax impact even lower than earlier regime which would be a big relief to the industry as well as consumers.
1. The Institute of Chartered Accountants of India considers it a privilege to submit its suggestions on GST Implementation Issues. We have segregated the 217 suggestions in 3 parts: Policy related issues Law Related Issues Procedural Issues We shall be pleased to discuss suggestion in meeting to illustrate the points made by us. 2. We […]
Revision of TRAN-1 has been enabled on GSTN. On opening the TRAN-1 filed previously and scrolling till bottom, one can see the ‘Re-Open’ tab which has been added. Re-open button is given only for those users that have either submitted or filed TRAN-1 previously. The relevant instructions in regard with revision are appearing under the […]
Your kid may have some sort of idea about a bank from watching TV or reading books but if you want to teach your child about how to manage money, then nothing is better than providing them a real-world practical experience. Thanks to the RBI (Reserve Bank of India), you could introduce your child to the financial system as and when they turn 10 by opening a savings account. Many banks such as Axis Bank have launched Future Stars savings account for kids.
Linkage of Aadhaar number to Insurance Policies is mandatory under the Prevention of Money-laundering (Maintenance of Records) Second Amendment Rules, 2017.
(i) increase rate of basic customs duty on Peas (Pisum sativum) from present Nil rate to 50%. (ii) increase rate of basic customs duty on wheat from 10% to 20%.
Form GSTR-4 online upload functionality is now available to taxpayers for uploading of their quarterly returns. Earlier Excel based GSTR-4 Offline tool was provided to taxpayers, to prepare their Form GSTR-4 offline.
Section 145 (2), as amended, has to be read down to restrict power of the Central Government to notify ICDS that do not seek to override binding judicial precedents or provisions of the Act. The power to enact a validation law is an essential legislative power that can be exercised, in the context of the Act, only by the Parliament and not by the executive. If Section 145 (2) of the Act as amended is not so read down it would be ultra vires the Act and Article 141 read with Article 144 and 265 of the Constitution.
