The emergence of GST and a switch from service tax and other indirect taxes has led to a great confusion in the country. With the implementation of GST hopefully from 1st July, 2017, service provide are still unable to conclude whether GST will be applicable to them or not.
The proviso to section 2(40) of Act, 2013 has been substituted to provide exemption from furnishing cash flow statement by such private companies that are recognized as start-up in accordance with DIPP notification.
In the GST regime, all application for Registration has to be filed on line through the Common portal GSTN. Supporting documents are also scanned and uploaded through the Common Portal. The physical interface between Taxpayer and Tax officials is fully eliminated.
Advisory for migration- The GST common portal would reopen for migration on 25th June 2017. Assessees are required to complete the migration process before 30th September 2017. DG Systems is constantly compiling the provisional Id requests and sending them to GSTN for creation of Provisional IDs and pursuing with GSTN for resolution of problems faced […]
The Insolvency and Bankruptcy Board of India has constituted a Working Group for recommending the strategy and approach for implementation of the provisions of the Insolvency and Bankruptcy Code, 2016 to deal with insolvency and bankruptcy in respect of (i) Guarantors to Corporate Debtors, and (ii) Individuals having Business, and drafting related Rules and Regulations.
The way forward: 1. If you are a Taxpayer having received Acknowledgement Reference Number (ARN): You should be able to download the Provisional Registration Certificate from “Download Certificates” at GST website from 27th June 2017. 2. If you are a Taxpayer, who has saved the enrolment form with all details but has not submitted the […]
The Court directed the department to form a Vigilance Cell to ensure that there is a monitoring authority, which would monitor various policy decisions which are taken. It also directed the setting up of a self auditing mechanism to ensure that the income tax assessees are not made to run from pillar to post for the purpose of redressal of their grievances.
The Bombay High Court has restrained Gujarat Co-operative Milk Marketing Federation Ltd (GCMMF), which markets ice cream under brand name Amul, from broadcasting two television advertisements as they were disparaging towards plaintiff’s product, Kwality Walls.
Action Plan to Reduce Government Litigation+ Department of Justice June 13, 2017 Introduction Pendency in Supreme Court – 60,750 cases . In High Courts – 40 lakhs cases in 2016. In District and Subordinate Courts 2.74 crores cases in 2016 Government regarded to be the biggest contributor to litigation in India Approximately 46% of the […]
Existing Taxpayers of VAT, Service Tax, Central Excise DO NOT WORRY If you have not enrolled for GST yet, or If you have activated your account under enrollment but not submitted the application ENROLLMENT WINDOW WILL REOPEN ON 25th JUNE 2017 AND CONTINUE FOR 3 MONTHS AS PER RULE. Also note that your provisional ID […]
