Daily Archives: February 3, 2017

Use of Bitcoins

By | February 3, 2017

Use of Bitcoins Promotion of Digital economy is in integral part of Government’s strategy to clean the system and weed out corruption and black money. The earlier initiatives of the Government to promote financial inclusion and the Jan Dhan-Aadhaar-Mobile (JAM) trinity were important pre-curser. However, RBI has cautioned the users, holders and traders of Virtual… Read More »

India’s foreign exchange reserves

By | February 3, 2017

Utilisation of Foreign Exchange Reserves India’s foreign exchange reserves (FER) increased from US$ 341.6 billion at end March 2015 to US$ 360.2 billion at end March 2016 and US$ 360.8 billion as on 20th January 2017. India’s foreign exchange reserves (FER) comprise foreign currency assets, gold, Special Drawing Rights (SDRs) and Reserve Tranche Position (RTP)… Read More »

Demonetisation – 14 Bank Branches suspended employees for irregular exchange transaction

By | February 3, 2017

Money Credited in Bank Accounts Reserve Bank of India (RBI) has advised the banks vide in circular Ref. No.DBS.CO.PPD / 4220/11.01.005/2016-17 dated November 29, 2016 to take action to prevent / detect / contain the malpractices or wrongdoing by staff in branches exchange / deposit of Specified Bank Notes (SBN). The banks were also advised… Read More »

India to Revise tax treaties with partner countries to use data for prosecution

By | February 3, 2017

Revise the tax treaties with partner countries to enable the CBI and ED to use the data for prosecution Government is contemplating to revise the tax treaties with partner countries to enable the Central Bureau of Investigation (CBI) and Enforcement Directorate (ED) to use the data for prosecution of those who have stashed black money… Read More »

Tax Relief under GST

By | February 3, 2017

Tax Relief under GST All decisions of GST Council so far have been taken unanimously. Various states may have different points of view on an issue but the final decisions have been unanimous. The issue regarding treatment of the existing tax incentive schemes of the Central and State Governments was discussed during the 2nd Meeting… Read More »

Category: GST

Total direct tax collections up to 16th January 2017 amount to Rs. 5.76 lakh crore

By | February 3, 2017

Total direct tax collections up to 16th January 2017 amount to Rs. 5,76,408 crore; the Budget Estimates fixed for direct taxes are Rs. 9,80,000 crore Total direct tax collections up to 16th January 2017 amount to Rs. 5,76,408 crore. For the financial year 2017-18, the Budget Estimates fixed for direct taxes are Rs. 9,80,000 crore.… Read More »

GST Video- Import Export, SEZ, Refund (Including Transition)

By | February 3, 2017

Import Export, SEZ, Refund (Including Transition) Published on Feb 2, 2017 Import Export, SEZ, Refund (Including Transition) Related Post on GST Free Video GST Video- Brief Concept of Model GST Law ( CGST, SGST & IGST) (1st Technical session) GST Video – Levy & Composition (2nd Technical Session) GST Video- Valuation of Taxable Supply &… Read More »

GST Video -ITC including Matching Concept & Transition, ISD & Anti-Profiteering

By | February 3, 2017

ITC including Matching Concept & Transition, ISD & Anti-Profiteering Published on Feb 2, 2017 ITC including Matching Concept & Transition, ISD & Anti-Profiteering Related Post on GST Free Video GST Video- Brief Concept of Model GST Law ( CGST, SGST & IGST) (1st Technical session) GST Video – Levy & Composition (2nd Technical Session) GST… Read More »

GST Video – Offences & Penalties, Prosecution & Compounding and Advance Ruling

By | February 3, 2017

Offences & Penalties, Prosecution & Compounding and Advance Ruling Related Post on GST Free Video GST Video- Brief Concept of Model GST Law ( CGST, SGST & IGST) (1st Technical session) GST Video – Levy & Composition (2nd Technical Session) GST Video- Valuation of Taxable Supply & Valuation Rules (3rd technical session) GST Video -Place… Read More »