Interest on Education Loans All Scheduled Commercial Banks provide Education Loan to students. IBA has formulated and circulated to all member banks a ‘Model Education Loan Scheme’ for providing financial support to meritorious students for pursuing higher education in India and abroad. Salient features of the scheme inter-alia include; I. Loan uptoRs 10 lakh for […]
The following steps, inter-alia have been taken by the Government to ensure corruption free tax administration in the country: i. Online system for internal whistle-blower has been put in place to get the vital feedback and complaints through department’s portal. ii. Reduction in human interface with tax payer with the introduction of higher digitization such as e-filing, e- assessment, e-appeal, e-nivaran.
Unique Document Identification Number (UDIN) being made mandatory from 1st July, 2019 for all Audit/Assurance/Attest function – (01-07-2019) It has been noticed by the Institute of Chartered Accountants of India that Financial Documents / Reports / Certificates are being signed by Non-CAs misrepresenting themselves as CA Members thereby misleading the Regulators, Authorities and Stakeholders. To curb this […]
According to the top sources, the Central Government is planning to implement the Demat Account Scheme for buying and selling of Immovable Property(ies) including flats, shops and godowns.
Government have decided to appoint the date of levy and collection of Kerala Flood cess with effect from the 1st day of August, 2019 and also to make suitable amendment in the said rules.
In re National Dairy Development Board (GST AAAR Gujarat) Member (Central) held that in absence of sufficient information, it cannot be determined whether M/s. NDDB is ‘Governmental Authority’. It is also held that exemption in not admissible to M/s NDDB for providing services of “Renting of Immovable property” Member (State) agreed with findings on first […]
During the search, it was detected that the tax evader has been given illegal benefit of Rs 60 crore by J&K Bank. His outstanding loan of Rs 190 crore was settled at Rs 130 crore, although he did not deserve any concessional treatment.
CBIC extends time limit for furnishing declaration in FORM GST ITC-04, in respect of goods dispatched to a job worker or received from a job worker, during the period from July, 2017 to June, 2019 till the 31st day of August, 2019 vide Notification No. 32/2019 – Central Tax Dated 28th June, 2019. Government of […]
Due date for furnishing FORM GSTR-1 for registered persons having aggregate turnover of up to 1.5 crore rupees for the months of July, 2019 to September,2019 is prescribed as 31st October, 2019 vide Notification No. 27/2019 – Central Tax Dated 28th June, 2019. Government of India Ministry of Finance (Department of Revenue) Central Board of […]
Clarification on various doubts related to treatment of secondary or post-sales discounts under GST vide Circular No. 105/24/2019-GST Circular No. 105/24/2019-GST CBEC-20/16/04/2018-GST Government of India Ministry of Finance Department of Revenue Central Board of Indirect Taxes and Customs GST Policy Wing **** New Delhi, Dated the 28th June, 2019 To, The Principal Chief Commissioners / Chief […]
