Notification No. 38/2018-Customs (ADD) Whereas, the designated authority vide initiation notification No. 7/15/2018-DGAD, dated the 3rd May, 2018, published in the Gazette of India, Extraordinary, Part I, Section 1, dated the 3rd May, 2018, has initiated review in terms of sub-section (5) of section 9A of the Customs Tariff Act, 1975 (51 of 1975) (hereinafter referred to as the said Customs Tariff Act)
Income-tax Department takes appropriate action against black money which is an on-going process. Such action under the Direct Tax laws includes searches, surveys, enquiries, assessment of income, levy of penalties and filing of prosecution complaints before criminal courts, wherever applicable.
The Total Gross GST Revenue collected in the month of July 2018 is Rs. 96,483 crore of which CGST is Rs. 15,877 crore, SGST is Rs. 22,293 crore, IGST is Rs. 49,951 crore (including Rs. 24,852 crore collected on imports) and Cess is Rs. 8,362 crore (including Rs. 794 crore collected on imports). This is broadly on expected lines.
ICAI started receiving complaints from members that they are receiving unsolicited SMSs, WhatsApp and emails from prospective candidates/their representatives seeking support for their candidature at the forthcoming elections to the Council and Regional Councils to be held in December, 2018.
Govt notifies Fugitive Economic Offenders Act, 2018. It shall be deemed to have come into force on the 21st day of April, 2018. The provisions of this Act shall apply to any individual who is, or becomes, a fugitive economic offender on or after the date of coming into force of this Act.
(1) Exemption notification should be interpreted strictly; the burden of proving applicability would be on the assessee to show that his case comes within the parameters of the exemption clause or exemption notification.
DGFT hereby inserts the list of services falling under the jurisdiction of Services Export Promotion Council which is listed at sl no 22 in Appendix 2T of Appendices and Aayat Niryat Forms of Foreign Trade Policy, 201520 in terms of Para 2.91 (b) of HBP 2015-20 with immediate effect
The Applicant who is a supplier to SEZ units and developers shall be liable to pay tax when supplying to Units and Developers of Special Economic Zones subject to the provisions of Section 16 of the Integrated Goods and Services Act, 2017. This Ruling is valid subject to the provisions under Section 103 until and unless declared void under Section 104(1) of the GST Act.
On the basis of an assessment of the current and evolving macroeconomic situation at its meeting today, the Monetary Policy Committee (MPC) decided to: increase the policy repo rate under the liquidity adjustment facility (LAF) by 25 basis points to 6.5 per cent. Consequently, the reverse repo rate under the LAF stands adjusted to 6.25 per cent, and the marginal standing facility (MSF) rate and the Bank Rate to 6.75 per cent.
The Circular No. 28/02/2018-GST, dated 08.01.2018 as amended vide Corrigendum dated 18.01.2018 was issued to clarify GST rate applicable on catering services, i.e., supply of food or drink in a mess or canteen in an educational institute.
