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MGST: Maharashtra Govt constitutes State Level Screening Committee

September 7, 2017 1275 Views 0 comment Print

Government of Maharashtra hereby constitute the State Level Screening Committee consisting of following officers, namely : (a) Shri Omnarayan Bhangdiya–Additional Commissioner of State Tax, Maharashtra State. (b) Shri Suresh Krishnani–Commissioner GST, Mumbai, Government of India.

Clarifications on Guidelines on insurance e-commerce and electronic issuance of insurance policies

September 7, 2017 1830 Views 0 comment Print

The Authority as part of its developmental mandate and to reach out to the policyholders in a cost efficient manner has taken number of steps. This includes issuing revised guidelines on insurance repositories, insurance e-commerce, issuance of electronic insurance policies, maintenance of electronic records, etc.

Approval to Reopening by officer superior to Addl. DIT U/s. 151(2) is invalid

September 7, 2017 1236 Views 0 comment Print

This writ petition by Yum! Restaurants Asia PTE Ltd. under Articles 226 and 227 of the Constitution, seeks the quashing of a notice dated 28th March 2012 issued by the Deputy Director of Income Tax (hereinafter the Assessing Officer or AO) under Section 148 of the Income Tax Act, 1961 (hereinafter the Act) seeking to reopen the assessment for Assessment Year (AY) 2005-06.

Constitutional Validity of GST Compensation Cess- HC Admits Plea

September 7, 2017 2841 Views 0 comment Print

The challenge in this petition is to the constitutional validity of the Goods and Services Tax (Compensation to States) Act, 2017 (‘Act’). The context in which the challenge is laid is that the Petitioner is a trader of imported and Indian coal having its operation in various parts of the country. Prior to the impugned Act, under the Finance Act, 2010 (‘FA 2010’), with effect from 1st July 2010, a ‘Clean Energy Cess’ was levied under Chapter VII

Service details of Employees cannot be Furnished under RTI: SC

September 7, 2017 6675 Views 0 comment Print

Firstly, the information sought by respondent No.1 of individual employees working in the Bank was personal in nature; secondly, it was exempted from being disclosed under Section 8(j) of the Act and lastly, neither respondent No. 1 disclosed any public interest much less larger public interest involved in seeking such information of the individual employee […]

Utility to Upload details of large number of Statutory Forms under TRAN-1 Form

September 7, 2017 2490 Views 0 comment Print

Log in using your user 1D and password. Navigate to TRAN-1 ( Services -) Returns -> Transition Forms. 3) Navigate to tile 5(a), 5(b), 5(c)- Amount of tax credit carried forward. Table 5 will appear only if YES is selected for returns filed under earlier laws (Ex VAT)

No Absolute Exemption to CBI From RTI Act: Delhi HC

September 7, 2017 1401 Views 0 comment Print

The Delhi High Court has directed the CBI to consider the application of an RTI activist seeking information about corruption within the central investigating body and action taken into allegations made by Delhi Chief Minister Arvind Kejriwal of shady probe into the coalgate scam pursuant to a news report.

GST, Excise, Service Tax, Customs & VAT updates for August 2017

September 6, 2017 5640 Views 0 comment Print

Notification No. 28 /2017 – Central Tax, dated- 01st September, 2017- CBEC waives late fee payable under section 47 of the CGST Act, 2017, for all registered persons who failed to furnish the return in FORM GSTR-3B for the month of July, 2017 by the due date.

SARFAESI Act 2002: Collection of taxes out of attached properties

September 6, 2017 4611 Views 0 comment Print

The SARFAESI Act has been amended on 12-08-2016 to extend the scope of the Act to provide for registration of security interest held by all other creditors, in addition to the banks and financial institutions defined as secured creditors under the Act. T

Impact of Demonetization on Black Money, Widening of Tax Base and Direct Tax Collections

September 5, 2017 999 Views 0 comment Print

The Government launched a concerted drive against black money with Demonetization being an important step in that direction. Among the main objectives of Demonetization was the flushing out of black money and also conversion of the non-formal economy into a formal economy to expand the tax base. The impact of Demonetization on black money, widening of tax base and Direct Tax Collections is summed up here under:

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