For smooth GST transition, here’s what must be done The 122nd Constitution Amendment Bill, 2014 which will pave the way for introduction of the Goods and Services Tax laws has finally been approved after numerous consultations. The fact that the Bill was passed unanimously also sends the right signals about the intent to make this… Read More »
Companies May Move to New IT Systems to Tackle GST Challenges Several Indian companies have begun discussions with their IT vendors and tax advisors to upgrade their systems to enable tracking of goods and analysis of tax and other cost implications once the goods and services tax (GST) regime comes into force. Companies are mainly… Read More »
THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(ii)] MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 12th August, 2016 S.O. 2705(E).— In exercise of the powers conferred by sub-section (1) and sub-section (2) of section 199 of the Finance Act, 2016 (28 of 2016), the Central Board… Read More »
Within days of Parliament passing the Constitution Amendment Bill for rolling out the Goods and Services Tax (GST) in India, several sectors have begun hectic lobbying for exemption from the new tax. One such sector is renewable energy, where most of the equipment is imported. Solar power equipment enjoys zero customs duty, while a 5%… Read More »
Finance Minister of Assam Himanta Biswa Sarma tweeted on Friday morning that Assam has become the first state to ratify the Goods and Services Tax (GST) constitution amendment Bill. It was the last day of Assam’s ongoing legislative assembly session, its first full session after the new Bharatiya Janata Party-led coalition government was sworn in… Read More »
SUPREME COURT OF INDIA Rayala Corporation (P.) Ltd. v. Assistant Commissioner of Income-tax ANIL R. DAVE AND L. NAGESWARA RAO, JJ. CIVIL APPEAL NOS. 6437 TO 6441 OF 2016 AUGUST 11, 2016 JUDGMENT Anil R. Dave, J. – Being aggrieved by the judgment delivered by the High Court of Madras on 4th October, 2013 in… Read More »
THE EMPLOYEE’S COMPENSATION (AMENDMENT) BILL, 2016 further to amend the Employee’s Compensation Act, 1923 Date of Introduction / House 05.08.2016 AS PASSED BY LOK SABHA ON 9.08.2016
The Factories (Amendment) Bill 2016 further to amend the Factories Act, 1948 Date of Introduction / House 10.08.2016 AS PASSED BY LOK SABHA ON 10.08.2016
The Taxation Laws (Amendment) Bill, 2016 further to amend the Income-tax Act, 1961 and the Customs Tariff Act, 1975. Date of Introduction / House (Lok Sabha) 10.08.2016 Passed in LS 10.08.2016
Multipurpose Empanelment Form for the year 2016-17 Online Multipurpose Empanelment Form (MEF) for the year 2016-17 is live at www.meficai.org. The last date for submission of online MEF Form for the year 2016-17 is 31st August, 2016 and for submission of hard copy of “DECLARATION FOR MEF 2016-17” is 12th September, 2016. In case, an applicant… Read More »