Daily Archives: November 28, 2016

will there be inspector raj under GST ?

By | November 28, 2016

Modi government allays fears of ‘inspector raj’ under GST NEW DELHI: Addressing fears that an “anti-profiteering” clause in the draft goods and services tax (GST) law may spell the return of inspector raj, the Centre stressed that the provision is an enabling element and will be invoked only in the event of significant violations. “The… Read More »

Category: GST

GST- E-commerce firms to deduct TCS

By | November 28, 2016

E-commerce firms like Flipkart and Snapdeal to deduct TCS under GST NEW DELHI: E-commerce operators like Flipkart and Snapdeal will have to deduct TCS -1.02 % (tax collected at source) while making payments to their suppliers, according to the new model GST law, which has done away with the definition of ‘aggregator’. Explaining the changes… Read More »

Category: GST

Appeal or inquiry before Appellate Authority or Board under Sick Industrial Companies (Special Provisions) abated w.e.f 01.12.2016

By | November 28, 2016

NOTIFICATION New Delhi, the 25th November, 2016 S.O. 3569(E).— In exercise of powers conferred by clause (b) of section 4 of the Sick Industrial Companies (Special Provisions) Repeal Act, 2003 (1 of 2004), the Central Government hereby notifies the 1st day of December, 2016, as the date for the purposes of clause (b) of section… Read More »

Taxation and Investment Regime for Pradhan Mantri Garib Kalyan Yojana 2016

By | November 28, 2016

Taxation and Investment Regime for Pradhan Mantri Garib Kalyan Yojana, 2016 The Taxation Laws (Second Amendment) Bill, 2016 introduced in Lok Sabha on 28.11.2016 by Govt of India ; A scheme namely, ‘Taxation and Investment Regime for Pradhan Mantri Garib Kalyan Yojana, 2016’ (PMGKY) has bee proposed in the Bill ‘CHAPTER IXA’ . Scheme is as… Read More »

Download /Print – New Taxation Bill 2016 to Tax Unaccounted cash / Deposits

By | November 28, 2016

AS INTRODUCED IN LOK SABHA on 28.11.2016 THE TAXATION LAWS (SECOND AMENDMENT) BILL  2016 Bill No. 299 of 2016 FINANCIAL MEMORANDUM This Bill seeks to impose a higher rate of tax and levy of penalty in respect of certain incomes. It also provides for a scheme for payment of tax, penalty and surcharge on the… Read More »

Print-out of GAR 7 Forms /TR6 Challans is not required

By | November 28, 2016

Ease of Doing Business further enhanced for the Importers and Exporters by reducing/eliminating physical print-outs/paper documents for customs clearance; These instructions will become operational from 1st December, 2016; Will help the Importers and Exporters to move towards electronic messaging and paper–free environment. The “Ease of Doing Business” will be further enhanced for the Importers and… Read More »

New Taxation Bill to tax undisclosed income introduced in Lok Sabha by India -PMGKY

By | November 28, 2016

Taxation Laws (Second Amendment) Bill, 2016 introduced in Lok Sabha; A scheme namely, ‘Taxation and Investment Regime for Pradhan Mantri Garib Kalyan Yojana, 2016’ (PMGKY) proposed in the Bill. Evasion of taxes deprives the nation of critical resources which could enable the Government to undertake anti-poverty and development programmes. It also puts a disproportionate burden… Read More »