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IRDAI (Obligatory Cession), Notification, 2018

January 9, 2018 4041 Views 0 comment Print

Central Government, hereby makes following notification namely: Obligatory Cession. This notification shall be applicable to Indian Re insurers and other applicable insurers as per the provision of Section 101A of Insurance Act, 1938.

Transition period for registering under REX for GSP extended up to 30.06.2018

January 9, 2018 1596 Views 0 comment Print

Transition period for registering under the Registered Exporters System (REX) for EU Generalized System of Preferences (GSP) has been extended up to 30.06.2018.

FAQs on ICAI Advanced ICITSS-Test

January 9, 2018 122775 Views 10 comments Print

The Institute of Chartered Accountants in India (ICAI) released Frequently Asked Questions (FAQs) on Advanced Integrated Course on Information Technology and Soft Skills (AICITSS) and Advanced IT Course and Test.

Clarifications on requirement for completion of Advanced ICITSS-Test

January 9, 2018 4485 Views 0 comment Print

Clarifications on the requirement for completion of Advanced ICITSS course and the Advanced IT Test there under, with reference to eligibility to appear in CA Final examination, under Final (Old) and Final (New) Syllabus.

Order No. 10/2018: Transfer & Postings of officers in ACIT / DCIT grade

January 9, 2018 1470 Views 0 comment Print

Order No. 10 of 2018 The following postings/ transfers in the grade of Assistant/ Deputy Commissioner of Income Tax are, hereby, ordered with immediate effect and until further orders:-

APEDA enlisted under Appendix 2E of FTP 2015-2020

January 9, 2018 648 Views 0 comment Print

Agricultural and Processed Food Products Export Development Authority (APEDA), is enlisted under Appendix 2E of FTP, 2015-2020 for issuing Certificate of Origin (Non-Preferential).

Actionables pursuant to passing of Companies (Amendment) Act, 2017

January 9, 2018 2508 Views 0 comment Print

In accordance with the amendments proposed in Companies (Amendment) Act, 2017, companies are required to take care of the impacts of the same on the provisions of the Companies Act, 2013 while carrying out its operations in order to avoid non-compliance and penalties prescribed under Companies Act, 2013.

Notice against other noticees gets invalidated if SCN against main Noticee is Set Aside

January 9, 2018 2595 Views 0 comment Print

The Show Cause Notice has to be viewed in its entirety and cannot be vivisected as may be convenient for the Revenue. Thus, if a show cause notice is found as not valid or issued without jurisdiction in respect of the main protagonist, the very same SCN cannot be held as sustainable for other noticees like the appellants herein.

GST on College Hostel Mess Fees- CBEC issues Clarification

January 8, 2018 22515 Views 2 comments Print

Queries have been received seeking clarification regarding the tax ability and rate of GST on services by a college hostel mess. The clarification is as given below:

To invoke sec. 147 AO has to prove that Assessee Escaped Income

January 8, 2018 3933 Views 0 comment Print

Priyank Mittal Vs. ITO (ITAT Agra) A perusal of the reasons recorded by the AO shows that the allegation as per the reasons to believe escapement of income is bogus purchase/sale of shares, while the impugned addition has been made with respect to gift, which shows that the A.O. had no specific information. Hence, as […]

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