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.
Matters to be included in Board’s Report for One Person Company and Small Company.- (1) The Board’s Report of One Person Company and Small Company shall be prepared based on the stand alone financial statement of the company, which shall be in abridged form and contain the following:-
It has been brought to the notice of the Reserve Bank of India that some unscrupulous persons are marketing a device termed Rice Puller made up of copper/iridium, that is claimed to possess magical properties of attracting grains of rice towards it.
Government of India has, in exercise of the powers conferred under Section 28A of the Chartered Accountants Act, 1949, constituted a Quality Review Board (the ‘Board’) to perform the following functions u/s 28B of the Chartered Accountants Act, 1949:-
Article discusses Can Input tax credit be extinguished through a notification enabling refund of inverted tax? We hope that government shall immediately clarify the ambiguity regarding lapse of unutilized ITC lying in Credit ledger as on 31.07.2018.
ICAI Submits post Budget 2018 Memorandum on Indirect Taxes and submit its suggestions on 1. Levy of Integrated Tax on goods remaining in Bonded warehouse, 2. Audit of assessment of imported or exported goods, 3. Power to issue supplementary notice, 4. Communication of an order, decision, summon, notice etc. under Customs Act, 1962 through electronic mails., 5. Requirements for being an applicant of Advance ruling, 6. Sections 25A and 25B and 7. Appellate Authority for AAR.
Postponement in the date for mandatory RFID sealing in case of movement of goods under warehousing bond. CBIC has decided to extend the date to 1st October, 2018
CBDT notifies India International Exchange (IFSC) Limited under clause (ii) of Explanation 1 of clause (d) of proviso to sub-section (5) of Section 43 of the Income-tax Act, 1961 (43 of 1961) read with sub-rule (4) of Rule 6DDB of the Income-tax Rules, 1962 vide Notification No. 35/2018 Dated 31st of July, 2018. Government of India […]
These regulations may be called the Sea Cargo Manifest and Transhipment (Amendment) Regulations, 2018. They shall come into force on the date of their publication in the Official Gazette. GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF REVENUE (CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) Notification No. 65/2018-Customs (N.T.) Ncw Delhi, the 30th July, 2018 […]
