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Maharashtra State Finance Audit Report of Comptroller and Auditor

December 13, 2019 846 Views 0 comment Print

Chapter I is based on the audit of Finance Accounts and makes an assessment of the Maharashtra Government’s fiscal position as on 31 March 2018. It provides an insight into trends of committed expenditure and the borrowings made by the State Government.

Time of supply in case of ‘Deposit Works’

December 13, 2019 3984 Views 0 comment Print

In re Uttar Pradesh Avas Evam Vikas Parishad (GST AAR Uttar Pradesh) i. What is the time of supply in case of ‘Deposit Works’ being executed by the applicant- Whether it is the time of receipt of funds from the client government department or the time when expenditure incurred towards execution of the work is […]

Post Office Savings Account Scheme, 2019

December 12, 2019 8547 Views 0 comment Print

An account under Post Office Savings Account Scheme, 2019 may be opened by making an application in Form-1 by the following- a single adult, two adults jointly, a guardian on behalf of a minor, a guardian on behalf of a person of unsound mind, a minor who has attained the age of ten years, in his own name.

Kisan Vikas Patra Scheme, 2019

December 12, 2019 6147 Views 1 comment Print

Government notifies vide notification No. G.S.R. 920(E), new Kisan Vikas Patra Scheme, 2019 which comes into effect from 12th December 2019. Full text of ‘Kisan Vikas Patra Scheme, 2019’ Notification is as follows:- MINISTRY OF FINANCE (Department of Economic Affairs) NOTIFICATION New Delhi, the 12th December, 2019 G.S.R. 920(E).—In exercise of the powers conferred by […]

Senior Citizens’ Savings Scheme, 2019

December 12, 2019 11346 Views 1 comment Print

An individual fulfilling the following conditions may open Senior Citizens’ Savings Scheme account by making an application in Form-1 to the accounts office (i) who has attained the age of sixty years on the date of opening of the account; or

Government rescinds Public Provident Fund Scheme, 1968

December 12, 2019 10350 Views 6 comments Print

Central Government hereby rescinds with immediate effect the Public Provident Fund Scheme, 1968, published vide number G.S.R. 1136(E), dated the 15th June, 1968, except as respects things done and omitted to be done before such rescission.

5 Ways to avoid Income Tax Penalties

December 12, 2019 7233 Views 1 comment Print

We are morally bound to pay taxes, legally too. It is for the betterment of our own nation. The taxes we pay help the country develop and prosper, which is definitely good for the society at large.

Mandatory supporting documents | Document code & IRN | Bills of Entry

December 12, 2019 19896 Views 0 comment Print

Currently, on the import side, uploading of at least one document on e-Sanchit is mandatory for every Bill of Entry. This is now being modified to mandatorily uploading on eSANCHIT, for every Bill of Entry, Invoice/ Invoice cum packing list and Transport Contract i.e. Bill of Lading/ Airway bill etc., as the case may be.

Rubber Pad falls Under Chapter 4016 of GST Tariff Act 2017

December 11, 2019 1626 Views 0 comment Print

Rubber Pad falls under Chapter 4016 of the GST Tariff Act 2017 and attract GST @ 18% [9% CGST + 9% SGST] as on date. In re V K Enterprises (GST AAR Uttarakhand);

Nestle’ guilty of profiteering as not adopted correct methodology to pass on ITC Benefit

December 10, 2019 3060 Views 0 comment Print

Director General of Anti-Profiteering Vs M/s Nestle India Ltd (National Anti-Profiteering Authority) 1. The present Report dated 08.10.2018 and the supplementary Reports dated 16.01.2019, 01.02.2019, 15.03.2019, 08.05.2019 and 12.06.2019 have been received from the above Applicant (here-in­after referred to as the DGAP) after detailed investigation under Rule 129 (6) of the Central Goods & Services […]

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