Constitution Does Not Permits A Delay With GST: FM Published on Dec 2, 2016 Speaking at the , FM Arun Jaitley stated that the constitution does not permits a delay with GST. New Delhi: Union finance minister Arun Jaitley on Friday said that there is a constitutional compulsion to implement the Goods and Services Tax… Read More »
Taxation of Deposits of Demonetized 500/- and 1000/- Notes (November 2016 Edition) Paperback – 2016 Also Incorporating Guide to Taxation Laws (Second Amendment) Bill 2016 [As Passed by Lok Sabha] Guide to Taxation and Investment Regime for Pradhan Mantri Garib Kalyan Yojana 2016 [As passed by Lok Sabha] Pradhan Mantri Garib Kalyan Yojana (PMGKY)… Read More »
Issue Disallowance of bank guarantee charges under the provisions of section 40(a)(ia) of the Act for non-deduction of TDS u/s 194H of the Act Held “There is no principal agent relationship between the bank issuing the bank guarantee and the assessee. When bank issues the bank guarantee, on behalf of the assessee, all it does… Read More »
External Commercial Borrowings Source : Reserve Bank of India These FAQs attempt to put in place the common queries that users have on the subject in easy to understand language. However, for conducting a transaction, the Foreign Exchange Management Act, 1999 (FEMA) and the Regulations made or directions issued thereunder may be referred to. The… Read More »
Market Stabilisation Scheme (MSS) – Revision of ceiling for 2016-17 Date : Dec 02, 2016 Please refer to the Press Release dated June 22, 2016 on fixation of ceiling for MSS for 2016-17. After the withdrawal of the legal tender character of the ₹ 500 and ₹ 1000 denomination notes with effect from November 9,… Read More »
Date : Dec 02, 2016 The Reserve Bank of India has announced the auction of the 28 days Government of India Cash Management Bills for a notified amount of ₹ 20,000 crore today, December 02, 2016 using “Multiple Price Auction” method. The bids for the auction should be submitted in electronic format on the Reserve… Read More »
Steps for Migration of Assam VAT dealers to GSTN State /India GST Material GST Enrolment Plan State Wise : Announced by Indian Govt Steps to enrol on GST Common Portal (India) India How to login to GST Common Portal (India) FAQ on GSTN Migration (English) GST-Video Tutorial FAQ on… Read More »
The Indirect Taxes Committee of ICAI is undertaking various initiatives in order to keep the members abreast and hands on with the Indirect Tax Laws and changes therein. Continuing with its efforts to update the members, the Indirect Taxes Committee is coming up with its next webcast on topic “Panel Discussion on Revised Model GST Law by… Read More »
Ministry of Finance 01-December, 2016 With effect from the midnight of 2nd December, 2016, old Rs. 500 bank notes will not be accepted at petrol, diesel and gas outlets of Public Sector Oil and Gas Marketing Companies as well as for purchase of Air Tickets at Airports; However, supply of LPG continues to be in… Read More »
Various points clarified with respect to gold jewellery and ornaments; No limit on holding of gold jewellery or ornaments by anybody provided it is acquired from explained sources of income including inheritance. In order to remove any doubt about the current position of Income Tax Law with respect to gold jewellery and ornaments, the following… Read More »