The limits for investment by FPIs for the quarter January – March 2018 is increased by INR 64 billion in Central Government Securities (Central G-Secs) and INR 58 billion in State Development Loans (SDLs).
The Jaipur bench of ITAT comprising Vijay Pal Rao (judicial member) and Vikram Singh Yadav (accountant member) recently held that the circular issued by the Central Board of Direct Taxes (CBDT) restricting amenities to doctors is
What are the objects and reasons for which the Real Estate (Regulation and Development) Act 2016 has been framed? Ans: The Real Estate Act is intended to achieve the following objectives:
There is no requirement to file separate refund for IGST paid on export of goods. The Shipping Bills filed by the taxpayer itself is treated as refund application and the refund amount is processed and paid to the taxpayer if the following conditions are fulfilled:
Question No. 1: How to claim refund of IGST paid in course of supply to SEZ unit under zero rated supply? Answer: Please refer to the circular no 17/2017. Question No. 2: GST for the education counseling agencies contracted by the overseas universities- will it be covered under export or not?? Commission earned in foreign […]
Vinita Ranka Vs ITO (ITAT Jaipur) There is no dispute that during the course of assessment proceedings the AO noted that the bank transactions including the deposit in the bank and outward transaction are more than Rs. 4 Crores. The assessee then filed revised computation of income and admitted the turnover of more than Rs. […]
Issues with regard to slowness of AIOs [all-in-ones] have been brought to my notice. Discussions have been held with the representatives of M/S TCS, who are our vendors for the network/ AIOs and Wipro software application team. Accordingly following advisory is issued to the field formation for immediate action.
It has come to the notice of this Directorate that importers who apply for authorization for import of restricted items are submitting their applications at the concerned Regional Authority of DGFT without paying the application fee at the time of submission of application.
It is advised to all builders / construction companies that in the flats under construction, they should not ask customers to pay higher tax rate on installments to be received after imposition of GST. Despite this clarity on law position, if any builder resorts to such practice, the same can be deemed to be profiteering under section 171 of GST law.
Application for refund can be saved at any stage of completion, for a maximum time period of 15 days. If the same is not submitted within 15 days, the saved draft will be purged from the GST Portal.
