The Union Finance Minister Shri Arun Jaitleyconstitutes a Group of Ministers and a Committee on Exports; Bihar Deputy Chief Minister,Shri Sushil Kumar Modi to head the GOM while Committee on Exports to be headed by the Revenue Secretary, Dr.Hasmukh Adhia.
Ministry of Corporate Affairs has identified 1,06,578 Directors for disqualification under Section 164(2)(a) of the Companies Act, 2013 as on September 12, 2017.
The present upper ceiling on gratuity amount under the Act is Rs. 10 Lakh. The provisions for Central Government employees under Central Civil Services (Pension) Rules, 1972 with regard to gratuity are also similar. Before implementation of 7th Central Pay Commission, the ceiling under CCS (Pension) Rules, 1972 was Rs. 10 Lakh. However, with implementation of 7th Central Pay Commission, in case of Government servants, the ceiling now is Rs. 20 Lakhs effective from 1.1.2016.
To Avoid last minutes rush and system congestion on the MCA 21 Portal on Account of annual filings during the months of October and November, 2017, Companies are requested to file their financial statements and annual returns at the earliest, without postponing it to the last few days permitted for the same.
The Direct Tax collections up to August, 2017 in the current Financial Year 2017-18 continue to register a steady growth. Direct Tax collections, net of refunds, stands at Rs. 2.24 lakh crore which is 17.5% higher than the net collections for the corresponding period of the last year. This collection is 22.9% of the total Budget Estimates of Direct Taxes for the Financial Year 2017-18.
Stricter Norms for Corporate Governance: Punishment for Siphoning off Money from Bank Accounts of Struck Off Companies; Disqualifation of Directors from Being Appointed or Reappointed in Companies
1. To reduce the rate of GST on following services from 18% to 12%: Services provided to the Government, a local authority or a governmental authority by way of construction, erection, commissioning, installation, completion, fitting out, repair, maintenance, renovation, or alteration of –(a) a civil structure or any other original works meant predominantly for use other than for commerce, industry, or any other business or profession;
LIST OF GOODS FOR CHANGE IN GST RATE RECOMMENDED BY GST COUNCIL IN ITS 21st MEETING HELD ON 9TH SEPTEMBER, 2017 1. The GST Council has recommended changes in the GST rates on the following goods: S. No. HSN Description Present GST Rate Recommended GST rate 1. 0802 Walnuts, whether or not shelled 12% 5% […]
Increase in rate of the Compensation Cess on certain specified motor vehicles As per discussions in the 21st GST Council Meeting held on 9th September, 2017: Segment Heading Present Compensation Cess rate Proposed Compensation Cess rate Passenger Vehicles of heading 8703 Small Cars (length < 4 m ; Petrol<1200 cc) 8703 1% No change Small […]
GSTR-3B will continue to be filed for the months of August to December, 2017. A registered person (whether migrated or new registrant), who could not opt for composition scheme, shall be given the option to avail composition till 30th September 2017 and such registered person shall be permitted to avail the benefit of composition scheme with effect from 1st October, 2017.
