Daily Archives: November 7, 2016

How to make GST fair and simple

By | November 7, 2016

How to make GST fair and simple Conflicting demands of different stakeholders make tax reform the art of the impossible. While the gainers are silent, the vociferous cacophony of the opponents drowns the voice asking for bold and imaginative reform. It therefore comes as no surprise that the Union finance minister has had to abandon… Read More »

Category: GST

Govt hopeful of consensus on vertical division

By | November 7, 2016

Govt hopeful of consensus on vertical division The Centre is hopeful of a consensus around ‘vertical division’ of assessees, one without a turnover threshold, to resolve the issue of dual administrative control under the proposed goods and services tax (GST) regime. While most states are in agreement over the principle of division in a pre-decided… Read More »

Category: GST

Section 7 of Enforcement of Security Interest and Recovery of Debts Laws and Miscellaneous Provisions (Amendment) Act 2016

By | November 7, 2016

Section 7 of Enforcement of Security Interest and Recovery of Debts Laws and Miscellaneous Provisions (Amendment) Act 2016 Section 7 of  Enforcement of Security Interest and Recovery of Debts Laws and Miscellaneous Provisions (Amendment) Act 2016 shall come into force w.e.f  4th day of November, 2016 vide Notification No S.O. 3395(E) Section 7 of  Enforcement of Security… Read More »

Section 4 (xiii) of Enforcement of Security Interest and Recovery of Debts Laws and Miscellaneous Provisions (Amendment) Act 2016

By | November 7, 2016

 Section 4 (xiii) of  Enforcement of Security Interest and Recovery of Debts Laws and Miscellaneous Provisions (Amendment) Act 2016 Section 4 (xiii) of  Enforcement of Security Interest and Recovery of Debts Laws and Miscellaneous Provisions (Amendment) Act 2016 shall come into force w.e.f  4th day of November, 2016 vide Notification No S.O. 3395(E) Section 4 (xiii)… Read More »

For Easy Debt recovery Indian Govt enforced certain provisions w.e.f 04.11.2016

By | November 7, 2016

MINISTRY OF FINANCE (Department of Financial Services) NOTIFICATION New Delhi, the 4th November, 2016 S.O. 3395(E).—In exercise of the powers conferred by sub-section (2) of section 1 of the Enforcement of Security Interest and Recovery of Debts Laws and Miscellaneous Provisions (Amendment) Act, 2016 (44 of 2016), the Central Government hereby appoints the 4th day… Read More »

No disallowance of Expenses because benefit of research were not shown

By | November 7, 2016

Held The disallowance cannot be made only on the ground that results of the research were not shown by the assessee during the year under consideration. The benefit of research may or may not yield in the year under consideration. But, that would not determine allowability of the expenses or otherwise. Thus, taking into account… Read More »

Indian Govt. allows 49% foreign investment in pension sector under automatic route

By | November 7, 2016

RESERVE BANK OF INDIA (Foreign Exchange Department) (CENTRAL OFFICE) NOTIFICATION Mumbai, the 4th November, 2016 No. FEMA. 379/ 2016-RB Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) (Sixteenth Amendment) Regulations, 2016 G.S.R. 1042(E).—In exercise of the powers conferred by clause (b) of sub-section (3) of Section 6 and Section… Read More »