Daily Archives: March 15, 2017

EPFO clarify when International Workers to be treated as Excluded Employee

By | March 15, 2017

EPFO Clarification on Special Provision in respect of International Workers -Exemption granted under the Comprehensive Economic Cooperation Agreement between India and Singapore EPFO has reviewed the Special Provision in respect of International Workers and has clarified that no PF/ EPS is to be deducted from salaries of Singapore citizens who are working purely as temporary workers in… Read More »

87A Rebate for AY 2017-18

By | March 15, 2017

Section 87A Rebate for AY 2017-18 87A Rebate for AY 2017-18 : Rebate of Rs. 5,000 for resident individuals having total income up to Rs. 5 lakh [Section 87A] Purpose of 87A Rebate for AY 2017-18 (Financial Year 2016-17) With a view to providing tax relief to the individual taxpayers who are in lower income bracket, a rebate is… Read More »

Tax Rates for AY 2017-18 – Assessment Year 2017-18 ( FY 2016-17 )

By | March 15, 2017

Tax Rates for Assessment Year 2017-18 Tax Rates  Income Tax Act 1961 (India) Assessment Year 2017-18 1. In case of an Individual (resident or non-resident) or HUF or Association of Person or Body of Individual or any other artificial juridical person Taxable income Tax Rate Up to Rs. 2,50,000 Nil Rs. 2,50,000 to Rs. 5,00,000… Read More »

Draft Rights of Persons with Disabilities Rules 2017

By | March 15, 2017

MINISTRY OF SOCIAL JUSTICE AND EMPOWERMENT [Department of Empowerment and Persons with Disabilities (Divyangjan)] NOTIFICATION New Delhi, the 10th March, 2017 G.S.R.237(E).—The following draft of the Rights of Persons with Disabilities Rules, which the Central Government proposes to make, in exercise of the powers conferred by sub-sections (1) and (2) of Section 100 of the… Read More »

Enemy Property (Amendment ) Act 2017 Notified w.e.f 07.01.2016 -Download /Print

By | March 15, 2017

THE ENEMY PROPERTY (AMENDMENT AND VALIDATION) ACT, 2017 MINISTRY OF LAW AND JUSTICE (Legislative Department) New Delhi, the 14th March, 2017/Phalguna 23, 1938 (Saka) The following Act of Parliament received the assent of the President on the  14th March, 2017 and is hereby published for general information:— THE ENEMY PROPERTY (AMENDMENT AND VALIDATION) ACT, 2017… Read More »

Import of Service Covered in definition of Supply under GST

By | March 15, 2017

Q Import of Service Covered in definition of Supply under GST ? As per Section 3 read with Schedule 1 of Revised Model GST Law – Import of Service is Covered in definition of Supply . Section 3 Meaning and scope of supply of Revised Model GST Law  (1) Supply includes— ……. (b) importation of services, for a… Read More »

File undertaking that Appeal not pending in High Court/ Supreme Court – CESTAT Tribunal

By | March 15, 2017

01(05)/ Circular/ CESTAT/ 2017 Customs, Excise & Service Tax Appellate Tribunal West Block No. 2, R.K. Puram, New Delhi-110066 Dated 27.2.2017 Circular Instances are noticed that while filing appeal/application before CESTAT, parties are seeking alternate/simultaneous remedies before other forums such as Hon’ble High Courts/ Supreme Court which were invariably suppressed while filing appeal/applications etc. before… Read More »

GST- What is recovery mechanism for wrongly availed credit ?

By | March 15, 2017

Query: What is the recovery mechanism for wrongly availed credit?  Answer: If credit ia availed wrongly then it would be recovered from the registerd taxable persons in terms of section 66  to 78 of Revised Model GST Law CHAPTER – XVII DEMANDS AND RECOVERY   Determination of tax not paid or short paid or erroneously refunded or input… Read More »