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EPFO: Implementation of e-court software- revised procedure

July 24, 2017 1887 Views 0 comment Print

As you are aware, in the e-court software the allotment of 7A & 14B cases among assessing authorities is automatic so as to ensure that the workload is spread uniformly and cases are allotted randomly.

SEBI: Online Filing System for REITs and InvITs

July 24, 2017 654 Views 0 comment Print

All applicants desirous of seeking registration as REITs or InvITs are now required to submit their applications online only, through SEBI Intermediary Portal at https://siportal.sebi.gov.in. Furthermore, all SEBI registered REITs and InvITs are now required to file/ submit/ apply for any request, as may be required under the provision of aforesaid Regulations & Circulars issued there under, through the online system only. The aforesaid online filing system has been made operational.

Master Direction – Lending to MSME Sector

July 24, 2017 2754 Views 0 comment Print

As you are aware, the Reserve Bank of India has, from time to time, issued a number of guidelines / instructions / circulars / directives to banks in the matters relating to lending to Micro, Small & Medium Enterprises Sector. The Master Direction enclosed incorporates the updated guidelines / instructions / circulars on the subject. The list of circulars consolidated in this Master Direction is indicated in the Appendix. The Direction will be updated from time to time as and when fresh instructions are issued. This Master Direction has been placed on the RBI website at www.rbi.org.in.

Not asked Jethmalani to use objectionable words For Jaitley: Kejriwal

July 24, 2017 1269 Views 0 comment Print

Extract of Reply Submitted by Delhi Chief Minister Arvind Kejriwal in Delhi High Court in which he stated that  he never asked senior advocate Mr. Ram Jethmalani to pose objectionable questions to Mr. Arun Jaitley or use objectionable words while recording of evidence in the Rs. 10-crore defamation suit initiated by Mr. Arun Jaitley.

Income tax dept cannot determine annual rent value on notional basis unless there is established fraud, collusion etc.

July 23, 2017 1983 Views 0 comment Print

Law does not permit the revenue to reject the amount determined as rent or license fees by the assesse on mere doubt or suspicion. There has to be cogent and satisfactory material to indicate that the rent or fees determined by the parties are not indicative of the fair or market rent.

Distribution of GST Provisional Id & Access Token of Phase 8 dealers

July 21, 2017 1050 Views 0 comment Print

Provisional Ids and Access Token of Phase 8 dealers, are now made available by GSTN. Dealer can obtain their Provisional Ids from department’s portal www.mahavat.gov.in, using their login credentials.

MVAT: TDS on work contracts executed prior to 30-6-2017

July 21, 2017 2973 Views 1 comment Print

Tax Deduction at Source (TDS) as per section 31 of Maharashtra Value Added. Tax Act, 2002 in respect of work contracts executed prior to 30-6-2017 for which payments to be made on or after 1-7-2017 and applicability of TDS.

GST Impact On Job Workers

July 21, 2017 12279 Views 3 comments Print

Job work is an integral aspect of the manufacturing industry. Manufacturers usually outsource a portion of their activities to a third person. This turns out be cost-efficient and helps them to be more productive by focusing on their core activities

We are in a trust based taxation regime: CBEC Chairman

July 21, 2017 882 Views 0 comment Print

You are aware that Notification No. 16/2017 – Central Tax dated 7th July, 2017 has been issued specifying conditions for acceptance of Letter of Undertaking (LUT) in place of bond. You would appreciate that we are in a trust based taxation regime.

Promote officers of IRS (CBEC) to grade of Principal commissioner of customs, GST & CX

July 20, 2017 16230 Views 0 comment Print

The President of India is pleased to promote the following officers of the Indian Revenue Service (Customs and Central Excise) to the grade of Principal commissioner of customs, GST & CX in the Pay Scale of ₹ 67,000-79,000/- (pre- revised) (HAG) against the vacancies for the panel years 2015-16 and 2016-17, on regular basis with effect from the date of assumption of charge of the post and until further order

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