Notification No. 6/2018-Integrated Tax (Rate) Seeks to exempt royalty and license fee from Integrated tax to the extent it is paid on the consideration attributable to royalty and license fee included in transaction value under Rule 10(1)(c) of Customs Valuation (Determination of value of imported Goods) Rules, 2007.
Seeks to amend notification No. 9/2017- Integrated Tax (Rate) so as to exempt certain services as recommended by Goods and Services Tax Council in its 25th meeting held on 18.01.2018 vide Notification No. 2/2018- Integrated Tax (Rate)
Seeks to amend notification No. 11/2017- Central Tax (Rate) so as to notify CGST rates of various services as recommended by Goods and Services Tax Council in its 25th meeting held on 18.01.2018
The Finance Act, 2016 had inserted a new Section 115BBDA to tax dividend income in excess of Rs. 10 lacs in case of an Individual, HUF and Firm at the rate of 10%. The Finance Act, 2017 extended the scope of section 115BBDA of the Act
PLIs are ratios between the operating profits and operating costs / operating revenue /capital employed. It provides a sound basis to match operating profits of the company with that of the unrelated companies.
The Finance Act, 2017 amended section 115JAA of the Income-tax Act, 1961 to provide that the tax credit in respect of Minimum Alternate Tax (MAT) paid by companies under section 115JB of the Act can be carried forward up to fifteenth assessment year immediately succeeding the assessment year in which such tax credit becomes allowable.
In Re. M/s Parsan Brothers (GST AAR Andhra Pradesh) As per Section 7 (2) of the Integrated Goods and Service Tax Act, 2017– Supply of goods imported into the territory of India, till they cross the customs frontiers of India, shall be treated to be a supply of goods in the course of inter-State trade […]
Presently, there is increased focus on resolution of large NPAs faced by banking sector. The Government and RBI are vigorously pursuing several measures to reduce NPAs through different debt-restructuring schemes.
M/s Fairmacs Ship Stores Private Limited (GST AAR Andhra Pradesh) (i) The applicant are not exempted from tax under GST on their outward supplies made to ocean going merchant vessels on foreign run, Indian Naval Ships and Indian Coast Guard Ships (ii) The applicant can collect the applicable GST from their customers, in case it […]
I took a review meeting of the officers of both Hyderabad and Vizag zones, where a detailed presentation on the work performed by them in areas of GST and Customs was made. Some innovative ideas which were highlighted and brought to my notice were (i) setting up of a Special Task Force with 1 AC and 1 Superintendent both at ACC and ICD to deal only with the IGST refunds.
