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Customs Rate of Exchange of Foreign Currency Conversion wef 03.08.2018

August 2, 2018 1683 Views 0 comment Print

Customs Rate of Exchange of Foreign Currency Conversion wef 03.08.2018 notified vide Notification No. 67/2018 – Customs (N.T.) dated 2nd August, 2018

Additional Charge of Member (Admn.) CBDT to CBDT Chairman

August 2, 2018 3972 Views 0 comment Print

Order No. 123 of 2018 – Additional Charge of Member (Admn.) CBDT to Shri Sushil Chandra, Chairman, CBDT and additional charge of Member (IT&C) to Smt. S. Bhattasali, Member (A&J),CBDT along with zonal charges – reg F. No. A-35015/7/2012-Ad.VI Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes North Block, […]

ICAI President’s Message – August 2018

August 2, 2018 1503 Views 0 comment Print

ICAI turned a new leaf in its glorious history by completing 69 years of working for nation-building and in public interest, and stepping into the Platinum Jubilee Year on 1st July 2018.

RBI Policy Watch: The Long and Winding Price Road

August 1, 2018 708 Views 0 comment Print

Today’s policy decision suggests that the RBI seems to be taking a long term view on inflation rather than remaining purely data dependent. The discussion on the possible increase in inflation early next year (Estimate of Q1 2019-20 to 5%) as well the assertion that policy rate changes impact the real economy with a lag (with a shorter lag in transmitting to lending rates) corroborates this

SOP for movement of Domestic Containers from ICD’s to JNPT Terminals

August 1, 2018 2760 Views 0 comment Print

Standard operating procedure is hereby prescribed in relation to movement of Domestic Containers by Rail/Road by CONCOR from its various ICD’s to JNPT port terminals and vice versa.

Electric cables cannot be treated as accessories or consumables for petroleum operations

August 1, 2018 2979 Views 0 comment Print

In re M/s Kei Industries Limited (GST AAR Rajasthan) Also Read AAAR Ruling- GST Advance ruling cannot be given on transaction prior to date of Application for Advance Ruling FULL TEXT OF ORDER OF AUTHORITY OF ADVANCE RULING,RAJASTHAN The Issue raised by the applicant is fit to pronounce advance ruling as it falls under ambit […]

MCA notifies section 36 of Companies (Amendment) Act, 2017

July 31, 2018 9744 Views 0 comment Print

S.O. (E).- In exercise of the powers conferred by sub-section (2) of section 1 of the Companies (Amendment) Act, 2017 (1 of 2018), the Central Government hereby appoints the day of 31st July, 2018 as the date on which the provisions of Section 36 of the said Act shall come into force.

GST on ambulance services to Govt by private sector under NHM

July 31, 2018 16866 Views 2 comments Print

As regards the service provided by PSPs to the State Governments by way of transportation of patients on behalf of the State Governments against consideration in the form of fee or otherwise charged from the State Government, it is clarified that the same would be exempt under- a. No. 3 of notification No. 12/2017- Central Tax (Rate) dated 28.06.2017 if it is a pure service and not a composite supply involving supply of any goods, and

Education cess cannot be disallowed u/s 40(a)(ii)

July 31, 2018 22476 Views 2 comments Print

Chambal Fertilisers And Chemicals Ltd Vs JCIT (Rajasthan High Court)  The assessee is of the considered opinion that the education cess and secondary & higher education cess (collectively called as education cess) are not a “tax” and hence not disallowable u/s 40(a)(ii) of the Act on the basis of following submission:- (1) That on a plain reading of the above […]

Service Tax payable on Corporate Guarantee Commission

July 31, 2018 11178 Views 0 comment Print

Olam Agro India Ltd. Vs C.C.E (CESTAT Delhi) A corporate guarantee is used when a corporation agrees to be held responsible for completing the duties and obligations of debtor to a lender, in case the debtor fails to comply with the terms of the debtor- lender contract. Whereas a bank guarantee is a promise from […]

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