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Maharashtra Contract Labour Act applicability increased to 50 employees

January 5, 2017 65740 Views 5 comments Print

Applicability of Contract Labour (Regulation and Abolition) Act, 1970 has been changed from 20 Employees to 50 Employees for the state of Maharashtra vide Contract Labour (Regulation and Abolition) (Maharashtra Amendment) Act, 2016.

Figure of SBNs returned released by us earlier is not final : RBI

January 5, 2017 898 Views 0 comment Print

We would like to clarify that the periodical SBN figures released by us were based on aggregation of accounting entries done at the large no of Currency Chests all over the country. Now that the Scheme has come to an end on December 30, 2016, these figures would need to be reconciled with the physical cash balances to eliminate accounting errors/ possible double counts etc.

CBDT signs 3 APAs pertaining to Engineering Goods & Shipping sectors

January 5, 2017 778 Views 0 comment Print

Central Board of Direct Taxes signs three more Advance Pricing Agreements pertaining to the Engineering Goods and Shipping sectors. With this, the total number of APAs entered into by the CBDT reaches 120. The Central Board of Direct Taxes (CBDT) has started the year 2017 by entering into three unilateral Advance Pricing Agreements (APAs) today. […]

Single Window Interface for Facilitation of Trade (SWIFT) to Exports

January 4, 2017 1903 Views 0 comment Print

With successful implementation of SWIFT for import, it is proposed to implement online-release from Partner Government Agencies (PGAs) for exports from 05/1/2017 onwards as a pilot at Chennai, Delhi and Mumbai Air cargo complexes for CITES/ wildlife items.

8th Meeting of GST Council held on 3rd & 4rth Jan 2017

January 4, 2017 5224 Views 0 comment Print

8th two days meeting of GST Council concluded on 4th January 2017 but the contentious issue of tax administration remained un-resolved. Next meet scheduled on Wednesday – 11th Jan 17 to deliberate the same.

Cabinet approves India -Uruguay agreement for help in Customs matters

January 4, 2017 1078 Views 0 comment Print

Union Cabinet, has approved signing and ratifying an Agreement between India and Uruguay regarding Cooperation and Mutual Assistance in Customs Matters.

SPICe (A Bold Initiative By MCA!!!!)

January 4, 2017 10810 Views 8 comments Print

Newly integrated form namely SPICE E-Form INC-32 along with E-Form -33 and E-Form-34. Companies having upto 7 subscribers can only use Spice Form for incorporation of the same.

26 FAQs on Employees` Enrolment Campaign

January 4, 2017 1987 Views 0 comment Print

Employees’ Enrolment Campaign, 2017 is a Campaign to provide opportunity to the employers to voluntarily come forward and declare details of all such employees who were entitled for PF membership between 01.04.2009 to 31.12.2016 but could not be enrolled for any reason. The Campaign aims to extend PF benefits to employees hitherto deprived of PF benefits.

GST Accounts & Records and Accounting prospects

January 4, 2017 10207 Views 0 comment Print

Person required to maintain the record- Every registered person under GST Law is required to maintain accounts & records in Manual or Electronic form.

Brand Licensing Expenses allowed As Business / Revenue Expenses

January 4, 2017 1753 Views 0 comment Print

Whether payments made by the assessee to its holding company Nitrex Chemicals India Ltd for the use of its trademark and for the purpose of obtaining expertise in commerce, finance,manufacturing etc. amounted to revenue expenditure instead of capital expenditure?

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