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Notifications/Circulars

CBIC imposes 10% BCD on populated, loaded or stuffed printed circuit boards

April 2, 2018 2778 Views 0 comment Print

Seeks to increase tariff rate of BCD on populated, loaded or stuffed printed circuit boards, falling under tariff item 8517 70 10, of the First Schedule to the Customs Tariff Act, 1975 from Nil to 10%.

CBIC notifies Pre-notice Consultation Regulations, 2018

April 2, 2018 16974 Views 0 comment Print

Pre-notice consultation shall be made in the following manner:- (1) Before the notice is issued, the proper officer shall inform, in writing, the person chargeable with duty or interest of the intention to issue the notice specifying the grounds known to the proper officer on which such notice is proposed to be issued and the process of pre-notice consultation shall be initiated as far as possible atleast two months before the expiry of the time limit mentioned in sub-section (3) of section 28 of the Act.

Prudential Norms for Classification, Valuation and Operation of Investment Portfolio by Banks – Spreading of MTM losses and creation of Investment Fluctuation Reserve (IFR)

April 2, 2018 2358 Views 0 comment Print

Please refer to Master Circular DBR.No.BP.BC.6/21.04.141/2015-16 dated July 1, 2015 on the captioned subject. Banks are required to mark to market (MTM) the individual scrips in Available for Sale (AFS) at quarterly/more frequent intervals and Held for Trading (HFT) at monthly/more frequent intervals and provide for net depreciation, if any.

CBDT Action Plan for first Quarter of Financial Year 2018-19

April 2, 2018 6348 Views 0 comment Print

I am directed to forward herewith the Central Action Plan for the First Quarter i.e. (April, 2018 to June, 2018) for the FY 2018-19. You are requested to circulate the same among st all the officers in your region for necessary action.

Test Check genuineness of Online EPF Claims for settlement: EPFO

April 2, 2018 9174 Views 0 comment Print

(i) Out of the list of online claims being provided, atleast 1% of online cases must be test checked for genuineness. (ii) The member/employer may also be contacted, if felt necessary based on the above observations, to confirm genuineness of the claim.

MCA removes applicability of AS 22 & Ind AS 12 to Govt Companies forever

April 2, 2018 2622 Views 0 comment Print

Vide Notification number S.O. 529(E), dated the 5th February, 2018 it was specified that provisions of Accounting Standard 22 or Indian Accounting Standard 12 relating to deferred tax asset or deferred tax liability shall not apply, for seven years to certain Government companies with effect from the 1st April, 2017. Now Government has vide this […]

Incidence of GST on providing catering services in train –regarding

March 31, 2018 2883 Views 0 comment Print

Different GST rates are being applied for mobile and static catering in Indian Railways which is presently leading to a situation whereby the same licensee (selected by Indian Railways/IRCTC) supplying the same food would be subjected to different GST rates depending on whether it is mobile or static catering

E-way bill not required for Intra-State Movement of goods in Lakshadweep

March 31, 2018 2283 Views 0 comment Print

Notification No. 6/2018-Union Territory Tax Central Government notifies that irrespective of value of consignment, no e-way bill shall be required to be generated where the movement of goods commences and terminates within the Union Territory of Lakshadweep.

E-way bill not required for Intra-State Movement of goods in Daman and Diu UT

March 31, 2018 4026 Views 0 comment Print

Notification No. 5/2018-Union Territory Tax Central Government notifies that irrespective of value of consignment, no e-way bill shall be required to be generated where the movement of goods commences and terminates within the Union Territory of Daman and Diu.

E-way bill not required for Intra-State Movement of goods in Dadra and Nagar Haveli UT

March 31, 2018 3228 Views 0 comment Print

Notification No. 4/2018-Union Territory Tax Central Government notifies that irrespective of value of consignment, no e-way bill shall be required to be generated where the movement of goods commences and terminates within the Union Territory of Dadra and Nagar Haveli.

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