CBEC released FAQ on GST in English, Hindi, Assamese, Gujarati, Malayalam, Punjabi Telugu and Kannada for the benefit of General Public
Central government is taking various initiatives to reduce transactions in cash thereby increasing transactions through banks. So in F.Y. 2016-17 what will be effect of all this and on income tax provisions?
Keeping in mind highest standards of Chartered Accountancy profession in India, Council of ICAI thought it necessary to issue such KYC norms to be observed by members of profession who are in practice.
Input tax in relation to a taxable person, means IGST, including that on import of goods, CGST and SGST charged on any supply of goods or services to him and includes tax payable under sub-section (3) of section 8, but does not include tax paid under section 9
WEF 01.01.2017, all Credit Information Companies shall provide, upon request provide a Free Full Credit Report popularly known as CIBIL report
Mere increase in turnover, because of use of digital means of payment or otherwise , in a particular year cannot be a sole reason to believe that income has escaped assessment in earlier years.
Procedure for the purposes of furnishing and verification of Form 27BA for removing of default of Short Collection and/or Non Collection of Tax at Source
To accelerate digital transactions through use of credit/debit cards and mobile phone applications/e-wallets etc, Central Govt has decided on a package of incentives and measures for promotion of digital and cashless economy in country.
Government waives service tax charged while making payments through credit card, debit card, charge card or any other payment card; waiver limited to payments up to Rs. 2,000 in a single transaction
Sub-committee of Central Board of Trustees, EPF recommended to Govt to consider increase in wage ceiling under EPFO to Rs. 25000 PM from existing 15000 PM.
