Prime Minister Narendra Modi is beginning to be described as the most powerful head of government India has had since the heyday of Indira Gandhi. Even senior opposition leaders are now acknowledging this, with one of the senior most from the Congress party recently describing him as the most dominant political leader.
What kind of great power will India be? Is greatness an index of raw power – economic, military and political — or is it variable of a countrys ability to punch above its weight? While tipping one’s hat to the already robust debate in New Delhi’s strategic community about India’s future as a leading power,
In a slow-growth global economy, India has seized the growth baton and emerged as a key driver of global growth. In the next decade, in terms of incremental PPP GDP growth, India’s contribution could equal about 60% of China’s and 180% of the US’ contribution.
India is one of the mega diversity countries in the world with different types of forests. Officially 20 per cent of geographical area in the country is under forest cover. The National Forest Policy (1988) aims to increase the forest cover to one third.
The Internal Revenue Service said avoiding taxes by hiding money or assets in unreported offshore accounts remains on its 2017 list of tax scams known as the Dirty Dozen.
Since enrolment application went live,of many issues,one particular issue that has been reported in significant numbers was pertaining to PAN validation of taxpayers,required to be done after the application is submitted with either e-signature or DSC.GSTN has investigated many such issues and have taken certain steps to help tax payers migrate successfully.
It is well settled law that PAYMENT UNDER MISTAKE OF LAW — MISTAKE DISCOVERED ON NOTICING HIGH COURT DECISION — REFUND IS ALLOWED
The Central Board of Direct Taxes (CBDT) has clarified that under the revised India-Korea Double Taxation Avoidance Agreement (DTAA), applications for bilateral Advance Pricing Agreement (APA) involving international transactions with Associated Enterprises in Korea for the APA period beginning Fiscal Year 2017-18 can be filed along with request for rollback provision in prescribed form.
On review of the position of collection out of arrear and current demand as on 28.02.2017, it is noted that the performance of the Department as a whole and of almost all Pr. CCIT Regions individually is much below the targets given in the Central Action Plan 2016-17.
It is a second article in the series dealing with the issues of input tax credit. GST is expected to allow seamless flow of input tax credit to the registered taxable person, but taking into consideration the provisions of Revised Model Goods and Service Tax Law (hereinafter referred to as RMGL), it still looks like a distant dream for assessees.
