As part of the overall strategy of diversifying the investor base for government securities, the Government of India and RBI have been taking various measures to encourage participation of retail investors in G-Sec market including introduction of non-competitive bidding in primary auctions.
On a review of the limit imposed on shareholding of the post converted equity of the borrower company under reconstruction by Asset Reconstruction Companies (ARCs), it has been decided to exempt ARCs meeting the criteria set out in paragraph 3 below from the cap of 26% subject to compliance with the provisions of the SARFAESI Act, 2002.
The facility of making e-payments under all Acts (except GST) administered by Maharashtra Goods and Services Tax Department (MGSTD) is available on the web-site www.mahavat.gov.in through the e Payment Gateways of GRAS and the SRI e-Pay.
Investment fundamentals have changed dramatically in the last decade and going forward it will change more dramatically. The habit of savings needs to be inculcated from an early age.
During Rajaswa Gyan Sangam held on 1st and 2nd September, 2017, Hon’ble Prime Minister had observed that the Income-tax Act, 1961 (the Act) was drafted more than 50 years ago and it needs to be redrafted.
The issue pertaining to inter-state movement of rigs, tools and spares, and all goods on wheels [like cranes] was discussed in GST Council’s meeting held on 10th November, 2017 and the Council recommended that the circular 1/1/2017-IGST shall mutatis mutandis apply to inter-state movement of such goods
The GST rate on Idols made of clay is nil. (S.No. 135A of Schedule notification 2/2017 dated 28.06.2017).
Cabinet approves setting up of the 15th Finance Commission. The Union Cabinet chaired by the Prime Minister Narendra Modi has approved the setting up of the 15th Finance Commission. Under Article 280 (1) of the Constitution,it is a Constitutional obligation.
Currently, if employee wants to correct his/her basic details against UAN, employee and employer are required to submit a joint request to the concerned EPFO field office for correction of above mentioned basic details of employee.
A disclosure made under the fear of a plausible penalty or other proceedings cannot be termed voluntary or made in good faith. Mere request for non-initiation of penalty on the ground of disclosure branding the same to be voluntary with a view to buy peace and avoid litigation will not take the assessee out of the scope and ambit of Explanation-1 to section 271(1)(c) of the Act.
