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Section 10(18)(i)- Central Government specifies Gallantry awards

August 30, 2017 27654 Views 5 comments Print

S.O. 2830(E).—In exercise of the powers conferred by sub clause (i) of clause (18) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government, hereby specifies the gallantry awards for the purpose of the said section, mentioned in column (2) of the Table below, awarded in the circumstances mentioned in corresponding column (3) thereof.

Protocol to amend India-Vietnam DTAA notified

August 30, 2017 2031 Views 0 comment Print

S.O. 2826(E).—Whereas the Protocol amending the Agreement, signed at Ha Noi on the 7th day of September, 1994, between the Government of the Republic of India and the Government of the Socialist Republic of Viet Nam for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income

Banking companies exempted-from section 5 & 6 of Competition Act, 2002

August 30, 2017 1461 Views 0 comment Print

S.O. 2828(E).—In exercise of the powers conferred by clause (a) of Section 54 of the Competition Act, 2002 (12 of 2003), the Central Government in the public interest hereby exempts, all cases of reconstitution, transfer of the whole or any part thereof and amalgamation of nationalized banks, under the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970

Wage limit under Payment of Wages Act increased to Rs 24000 P.M.

August 28, 2017 7938 Views 0 comment Print

In exercise of the powers conferred by sub-section (6) of section 1 of the Payment of Wages Act, 1936 ( 4 of 1936), the Central Government, on the basis of figures of the Consumer Expenditure Survey published by the National Sample Survey Organization, hereby specifies rupees twenty four thousand per month as the wages under said sub-section (6).

GST: No provisional refund of ITC if zero-rated supplier didn’t file returns of 3 consecutive periods

August 26, 2017 1167 Views 0 comment Print

Following category of registered persons who shall not be eligible for refund of ninety per cent. of the total amount claimed as refund on account of zerorated supply of goods or services or both on a provisional basis, namely:- i. any registered person who has been granted registration under the said Act or under the existing law within a period of six months from the date of application for refund; or

Banking Regulation (Amendment) Act, 2017

August 25, 2017 6384 Views 0 comment Print

Power of Central Government to authorise Reserve Bank for issuing directions to banking companies to initiate insolvency resolution process. `35AA. The Central Government may, by order, authorise the Reserve Bank to issue directions to any banking company or banking companies to initiate insolvency resolution process in respect of a default, under the provisions of the Insolvency and Bankruptcy Code, 2016.

Amendment in import policy of gold and silver under Chapter 71 of the ITC(HS) 2017, Schedule -I (Import Policy)

August 25, 2017 1758 Views 0 comment Print

Policy Condition No. 4 restricting imports of gold and silver under Exim Codes 7113, 7114, 7115 and 7118 from South Korea is inserted in Chapter 71 of ITC(HS) 2017 .

Amendment in Foreign Trade Policy Related to importations or exportations of gold or silver

August 25, 2017 837 Views 0 comment Print

Principle of Restriction Relating to the importations or exportations of gold or silver is added at (i) under para 2.07 of Foreign Trade policy (2015-20).

Identifying dealers effecting sale of non-GST goods after 01/07/2017

August 24, 2017 12114 Views 0 comment Print

A dealer who continues to do business of selling the goods (after from 01 April 2017) mentioned in para 2/3 above, however, shall remain liable to pay tax under the MVAT Act, 2002 and the CST Act, 1956. Such dealers may include the dealers who are liable to pay tax under the MGST/CGST/IGST Acts brought in from forth 01/07/2017.

Commencement of sub-sections (8) to (10) of section 212 of CA 2013

August 24, 2017 2631 Views 0 comment Print

Central Government hereby appoints the 24th day of August,2017 as the date on which the provisions of sub-sections (8), (9) and sub-section (10) of section 212 of the Companies Act, 2013 shall come into force.

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