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Modification in Circular related to Tax Effect for Appeal Filing

July 14, 2017 2088 Views 0 comment Print

References are being received by the Board that in certain cases appellate authorities are dismissing appeals without going into the merits of the case by relying on the definition of `tax effect’ as defined in Circular No. 21/2015, which prescribes the monetary limit for filing appeals before various appellate authorities.

Allahabad High Court Summons parties Through Whatsapp

July 14, 2017 2679 Views 0 comment Print

HC directs the learned Senior Advocate for the petitioner to send WhatsApp message to the Chairman, Sri Anil Pratap Singh and Dr. Ram Jeet Singh Yadav, Secretary/the Election Officer on their mobile requesting them to appear before the Court today.

POEM guidelines – more clarity or ambiguity?

July 13, 2017 23466 Views 2 comments Print

The increase in globalization and technological advancement has resulted in the international expansion of several multinational and Indian corporations. Over the years, these corporations have used their global presence to enter low-tax jurisdictions, primarily to reduce the overall effective tax costs.

What you need to know for exporting under GST

July 13, 2017 4344 Views 1 comment Print

Quoting PAN (Permanent Account Number), which is authorized as Import Export code by DGFT, would suffice if the exporter exclusively deals with products which are either wholly exempt from GST or out of GST regime.

Designation of officers under Maharashtra GST Act, 2017

July 13, 2017 21405 Views 0 comment Print

Government of Maharashtra has issued a notification cited at Ref. (2) above. Vide said notification, for carrying out the various purposes under the MGST Act, the Government of Maharashtra has appointed officers working under Maharashtra Value added Tax Act, 2002 to be the officers under the MGST Act.

Banks to Record Transactions details in Passbook/Statement of Account

July 13, 2017 4452 Views 0 comment Print

It has come to our notice that many banks still do not provide adequate details of the transactions in the passbooks and / or statements of account to enable the account holders to cross-check them.

Investment in plant and machinery for classification as MSME not depreciated value

July 13, 2017 29193 Views 3 comments Print

Ministry has clarified that for the investment in plant and machinery for the purpose of classification of an enterprise as Micro, Small or Medium, the purchase value of the plant and machinery is to be reckoned and not the book value (purchase value minus depreciation).

Companies (Meetings of Board and its Powers) Second Amendment Rules 2017

July 13, 2017 7575 Views 0 comment Print

(e) Any director who intends to participate in the meeting through electronic mode may intimate about such participation at the beginning of the calendar year and such declaration shall be valid for one year :

Anti- dumping duty on imports of ‘ Grinding Media Balls’

July 13, 2017 984 Views 0 comment Print

Seeks to extend levy of anti- dumping duty on imports of ‘ Grinding Media Balls’ (excluding Forged Grinding media Balls), originating in, or exported from, Thailand and people’s Republic of China imposed vide Notification 36/2012- Customs (ADD) ,dated 16th July, for one year i.e. up to and inclusive of the 15th July, 2018.

Processing of BEs during transition phase of GST roll out in Customs

July 13, 2017 1041 Views 0 comment Print

It has been observed that Trade is still facing problem difficulties and delays in processing of import declarations due to system related issues. 2. Earlier Standing Order No 21/2017, dated 10.07.2017 was issued to extend the validity of Standing Order No-18/2017 dated 06.07.2017 till 12.07.2017.

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