In a short span of time, more than 12 States have passed the SGST Law from their respective assemblies and this shows the commitment for timely implementation of GST by the State Governments after passing of CGST, IGST Act by the Parliament of India.
Dr. Hasmukh Adhia, Revenue Secretary reiterates that the Goods and Services Tax (GST) would be implemented from July 1, 2017; States that GST would help in creating lot of jobs for young generation.
As India progresses towards introduction of GST w.e.f 1 July 2017, with the GST Council releasing the rates on goods and services, taxpayers are gearing up and finalising the GST impact analysis on various facets of their business. One of the key areas which merit consideration is the taxability of services provided to an overseas service recipient (including group companies and subsidiaries).
Have you heard or read about the concept of credit report? Are you aware of your credit score? No? Then, you are making one of the most common and biggest financial mistakes. Not being aware of your credit score means you have no idea if banks will lend you money and if they do, at what rates. And in case of a financial emergency when you need access to urgent funds, this may lead to a big crisis.
Transfers & posting of Deputy Assistant Commissioner of Income Tax in the O/o Pr.CCIT (Int. Tax) Delhi-reg. F.No.Pr.CCIT (Intl Tax.)/60/1/2017-18/560 Dated: 30.05.2017
Representations have been received for clarification on the issue as to whether a depositor should submit only one declaration in respect of the income each year before each person responsible for making the payment (Deductor) or Form 15G/15H has to be submitted each and every time the payment is due to be received from the deductor.
Since advertising agency only acting as an intermediary between assessee radio broadcasting station and the advertiser, raised bills to the advertiser on net amount charged by the assessee, charging separate commission from the advertiser, deduction from the gross amount was in the nature of discount only and not commission, therefore, liability to deduct tax under section 194H did not get attracted.
Declaration of valid GSTIN in Customs documents (BE/SB) would be mandatory w.e.f. 0000 hrs of 01-07-2017, the likely implementation date of GST, to avail IGST credit on Imports or GST refund on exports.
Provisional Ids and Access Token of Phase 5 dealers, are now made available by GSTN. Dealer can obtain their Provisional Ids from department’s portal www.mahavat.gov.in, using their login credentials.
SEBI (Issue and Listing of Debt Securities) Regulations, 2008 (“SEBI ILDS Regulations”) , govern public issue of debt securities and listing of debt securities issued through public issue or on private placement basis, on a recognized stock exchange.
