Addition of new field i.e. Goods and Service Tax Number (GSTN) under form page of TDS/TCS statements -15 digit alpha-numeric value to be entered under this field. Applicable for regular and correction statements pertains to all forms and FYs.
IBBI invites public comments on (i) Draft Insolvency and Bankruptcy (Application to Adjudicating Authority for Insolvency Resolution Process for Individuals and Firms) Rules, 2017, and (ii) Draft Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Individuals and Firms) Regulations, 2017 by 31st October, 2017.
The Institute of Chartered Accountants of India (ICAI) has recently written a letter to the Ministry of Corporate Affairs, Government of India seeking its intervention in designating Chartered Accountancy qualification as equivalent to Post-graduation and CA-Intermediate to be treated equivalent to Graduate degree in the University education system.
The last date for filing GSTR-1 for the month of July, 2017 is 10th October, 2017. An extension of two months has already been given. There will be no further extension given to taxpayers for filing their GSTR-1 return for July. Taxpayers who have not yet filed their GSTR-1 for July are advised to do […]
Be it decorative items like lights, gift items, lamps and wall hangings or other product, the sale of Chinese products may decline by 40-45% this Diwali as compared to last year which was about 30% as per the market report from various states, a quick survey by ASSOCHAM-Social Development Foundation (ASDF).
The Central Board of Direct Taxes (CBDT) has entered into 2 Unilateral Advance Pricing Agreements (UAPAs) with Indian Taxpayers during September, 2017. With the signing of these 2 Agreements, the total number of APAs entered into by CBDT till date has reached 177. This includes 164 Unilateral APAs and 13 Bilateral APAs. In the current financial year, a total of 25 APAs (2 Bilateral and 23 Unilateral) have been signed till date.
GST Council at its 22nd meeting rationalised GST rates on job work services, services provided by a GTA to an unregistered person, Leasing of vehicles purchased and leased prior to 1.7.2017, Transport of passengers by motor cab/ renting of motor cab and has taken various other measure.
EXPORT PACKAGE GST The GST Council under Chairmanship of Union Finance Minister Shri Arun Jaitley has in its 22nd Meeting held at Delhi today approved a major relief package for exporters. 2. Mindful of the difficulties faced by exporters post-GST leading to a decline in export performance and export competitiveness, the Council had last month […]
The composition scheme shall be made available to taxpayers having annual aggregate turnover of up to Rs. 1 crore as compared to the current turnover threshold of Rs. 75 lacs. This threshold of turnover for special category States, except Jammu & Kashmir and Uttarakhand, shall be increased to Rs. 75 lacs from Rs. 50 lacs.
As per discussions held in the 22nd GST Council Meeting held under Chairmanship of Union Finance Minister Shri Arun Jaitley on 6th October, 2017, the following changes in GST rates for certain Goods and IGST rates on Imports of specified Goods have been recommended. Krishan Arora, Partner, Grant Thornton India LLP on the GST Council […]
