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Dedicated fortnight for Income Tax Appeal Effect & Rectification

May 7, 2018 3723 Views 3 comments Print

During the period of 1st to 15th June, 2018, all assessing officers shall accord top priority to work of giving appeal effect and passing the rectification orders, and shall earmark the first half of the day to meet applicants/ counsels who seek to have a hearing to explain their case.

Expenses / Discount on ESOP exercised by the employees are allowable

May 6, 2018 5814 Views 0 comment Print

Pr. CIT Vs New Delhi Television Ltd. (Delhi High Court) Legislature itself contemplates the discount on premium under ESOP as a benefit provided by the employer to its employees during the course of sendee. If the Legis­lature considers such discounted premium to the employees as a fringe benefit or ‘any consideration for employment’, it is […]

ICAI compliments Union Cabinet for Approving MoU with SAICA

May 5, 2018 1437 Views 0 comment Print

The Union Cabinet chaired by Hon’ble Prime Minister Shri Narendra Modi has approved the Mutual Recognition Agreement between the Institute of Chartered Accountants of India (ICAI) and The South African Institute of Chartered Accountants (SAICA) to establish a mutual co-operation framework for the advancement of accounting knowledge, professional and intellectual development,

GST & ITC on operation & maintenance work of Municipality

May 5, 2018 26298 Views 0 comment Print

In re Khilari Infrastructure Private Limited (GST AAR Maharashtra) Question -1 -Determination of GST leviable on operation and maintenance work order given by such Municipal Corporation. Answer : – Under GST Act, 2017, their services attracted CGST & SGST @ 9% each with effect from 01.07.2017 and CGST & SGST @ 6% each with effect […]

Seizure of goods for mere Non-mentioning of Vehicle No. in E-Way Bill is illegal

May 5, 2018 16026 Views 4 comments Print

Merely of none mentioning of the vehicle no. in Part-B of E-Way Bill cannot be a ground for seizure of the goods. We hold that the order of seizure is totally illegal and once the petitioner has placed the material and evidence with regard to its claim, it was obligatory on the part of the respondent no.2 to consider and pass an appropriate reasoned order.

Protocol to amend India-Kuwait DTAA notified

May 4, 2018 1371 Views 0 comment Print

S.O. 1823(E).—Whereas the Protocol amending the Agreement between the Government of the Republic of India and the Government of the State of Kuwait for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income which was signed at New Delhi on 15th June, 2006 has been signed at Kuwait on the 15th January, 2017

Reports on Regulations related to Market Infrastructure Institutions for comment

May 4, 2018 1719 Views 0 comment Print

SEBI seeks public comments on Reports submitted by Committee on Review of Regulations and Relevant Circulars pertaining to Market Infrastructure Institutions (MIIs)

Order No. 61 of 2018- Transfer & Posting of ACIT/DCIT grade

May 4, 2018 2955 Views 0 comment Print

Order No. 61 of 2018 The following transfers/postings in the grade of Assistant / Deputy Commissioner of Income Tax are, hereby, ordered with immediate effect and until further orders:-

Trading Hours on Stock Exchanges

May 4, 2018 972 Views 0 comment Print

Pursuant to the approval of the SEBI Board, in its meeting held on December 28, 2017, Stock Exchanges have been permitted to trade commodity derivatives along with other segments of securities market effective from October 01, 2018.

Import policy of Urad & Moong in split & others forms amended

May 4, 2018 1392 Views 0 comment Print

Import policy of urad and moong in split & others forms under EXIM Codes: 0713 90 10 and 0713 90 90 are also restricted in addition to urad and moong under HS: 0713 31 00 with annual import quota of 3 lIkh MT for all.

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