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8th Amendment to MGST Rules 2017 notified

October 7, 2017 1239 Views 0 comment Print

No. MGST-1017/C.R. 178/Taxation-1.—In exercise of the powers conferred by section 164 of the Maharashtra Goods and Services Tax Act, 2017 (Mah. XLIII of 2017), the Government of Maharashtra, hereby makes the following rules further to amend the Maharashtra Goods and Services Tax Rules, 2017

MGST: Supply of services associated with transit cargo to Nepal and Bhutan (landlocked countries)

October 7, 2017 744 Views 0 comment Print

No. MGST-1017/C.R. 182/Taxation-1.—In exercise of the powers conferred by sub-section (1) of section 11 of the Maharashtra Goods and Services Tax Act, 2017 (Mah. XLIII of 2017) (hereinafter referred to as the “said Act”), the Government of Maharashtra, on being satisfied that it is necessary in the public interest so to do

Govt exempts Gems & Jewellery dealers from PMLA Requirements

October 6, 2017 2337 Views 0 comment Print

The Government has received representations from various Associations in the Gems and Jewellery sector with respect to certain incongruities in Notification No. 4/2017 dated 23rd August, 2017, wherein dealers in precious metals, precious stones and other high value goods were notified as person carrying on designated business and professions under the Prevention of Money-Laundering Act, 2002.

Penalty U/s. 271AAA not leviable on Failure to ask question regarding manner of earning of income

October 6, 2017 1272 Views 0 comment Print

The present appeal by the Revenue is directed against the order of the Commissioner (Appeals)-II, Ahmedabad [CIT(A) in short] dated 30-9-2013 for the assessment year (AY) 2010-11 wherein penalty imposed under section 271AAA of the Income Tax Act, 1961 (hereinafter referred to as the Act) Rs. 20 lakhs was deleted by the Commissioner (Appeals).

Final occupation date to calculate Purchase date for section 54F exemption allowed

October 6, 2017 8334 Views 0 comment Print

This appeal is filed by the assessee against the order of the Commissioner of Income Tax (Appeals) -20, Mumbai dated 17.04.2014 for the Assessment Year 2010-11. The only grievance of the assessee in his appeal is that the Ld.CIT(A) erred in denying the deduction u/s 54 of the Act.

Adding of new directors when all existing directors stand vacated

October 6, 2017 7353 Views 4 comments Print

Addition of names of the newly appointed Directors in the MCA database in the Companies where all the directors stand vacated due to disqualification under section 164(2)(a) r/w 167(1) of the Companies Act, 2013-reg

Deal cancellation compensation expense cannot be claimed from Capital Gain

October 6, 2017 5559 Views 0 comment Print

Under the head Capital gains only direct expenses relatable to transfer of property are allowed as deduction. Therefore, the cancellation expenses should not be held to be incurred either for acquiring the property or for transfer of property

Disposal of grievances related to EPPO registered at Pgportal.gov.in

October 6, 2017 18630 Views 20 comments Print

1. A grievance registered through this portal is required to be disposed of within thirty days of its lodgement. 2. A grievance is taken as disposed of only after the satisfaction of the person who lodged the grievance is ascertained and recorded.

Government notifies Sovereign Gold Bond Scheme

October 6, 2017 846 Views 0 comment Print

G.S.R.—- (E) –– In exercise of the powers conferred by clause (iii) of section 3 of the Government Securities Act, 2006 (38 of 2006), the Central Government hereby makes the following Scheme, namely: 1. Short title and commencement.- (i) This scheme may be called the Sovereign Gold Bond Scheme., (ii) There will be a distinct Series for every week which will be indicated on the Bond issued to the investor., (ii) It shall come into force on the date of its publication in the Official Gazette.

Sovereign Gold Bonds Scheme, Operational Guidelines

October 6, 2017 711 Views 0 comment Print

This has reference to the GoI notification F.No.4(25)-B/(W&M)/2017 and RBI circular IDMD.CDD.No.929/14.04.050/2017-18 dated October 06 2017 on the Sovereign Gold Bonds,. FAQs in this regard have been placed on our website (www.rbi.org.in). Operational guidelines with regard to this scheme are given below

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