As per the decision of GST Council, a nation-wide E-way Bill system is to be introduced with effect from 01.02.2018 for all inter-State movement and with effect from 01.06.2018 for all intra-State movement. It is, therefore, important that officers of Central Tax administration are properly trained in handling the new system.
At the time of registration of an establishment, employer has to upload digitally signed copy of PAN card. There is a mandate of Ease of Doing business to eliminate the requirement of submitting scanned copy of PAN card at the time of registration.
Order No. 6 of 2018 The following posting/ transfer in the grade of Commissioner of Income Tax is, hereby, ordered with immediate effect and until further orders:-
Real Time Default Management System is in operation in EPFO for reducing current default of establishments. New Enforcement Officers are also being provided to Regional Offices after completion of their training for effective default reduction.
The margining system of Clearing Corporations currently levies margin based on net buy value (Buy – Sales value of underlying) of unsettled trades in the cash segment and based on the net open positions (Open Interest) in the derivatives segments.
Order No. 8 of 2018 The following postings/ transfers in the grade of Principal Commissioner of Income Tax are, hereby, ordered with immediate effect and until further orders:-
Interest on 7.75% Savings (Taxable) Bonds 2018 will be taxable under the Income Tax Act, 1961 as applicable according to the relevant tax status of the Bond holders.
Details of Vendors seeking to provide E-seals to exporters as per requirement of Circulars 26/2017, 36/2017 , 37/2017, 41/2017, 44/2017 & 51/2017 of Customs as on date i.e. 5th January 2018 is as under:
The Reserve Bank of India will shortly issue Rs. 10 denomination banknotes in the Mahatma Gandhi (New) Series, bearing signature of Dr. Urjit R. Patel, Governor, Reserve Bank of India. The new denomination has motif of Sun Temple, Konark on the reverse, depicting the country’s cultural heritage. The base colour of the note is Chocolate Brown.
It has been decided that one representative of the rank of Commissioner or above from every zone shall attend every GST Council Meeting. In this regard Commissioner (GST) has already issued a letter dated 2nd January 2018.
