Monthly Archives: February 2019

Change in Exchange Rate of Foreign Currency relating to Imported and Export w.e.f 22.02.2019

By | February 21, 2019

Ministry of Finance Exchange Rate of Foreign Currency relating to Imported and Export Goods Notified Posted On: 21 FEB 2019 5:43PM by PIB Delhi In exercise of the powers conferred by Section 14 of the Customs Act, 1962 (52 of 1962), and in super-session of the notification of the Central Board of Indirect Taxes and Customs… Read More »

Amendments to Indian Stamp Act 1899 for Rationalization of Stamp Duty on Securities market instruments

By | February 21, 2019

Ministry of Finance Amendments to the Indian Stamp Act, 1899 for Rationalization of Stamp Duty & Design of Zero Evasion Collection Mechanism in Respect of Securities market instruments Posted On: 21 FEB 2019 The President of India, today, gave his assent to the Amendments to the Indian Stamp Act, 1899 which were introduced as part… Read More »

How To make Complaint against insurance company

By | February 21, 2019

How To make Complaint against insurance company If you are unhappy with your insurance company Approach the Grievance Redressal Officer of its branch or any other office that you deal with. Click here for contact details of Grievance Redressal Officers, GRO, of all insurance companies Give your complaint in writing along with the necessary support documents Take… Read More »

ICAI Empanelment for Observer of CA Exam May / June 2019

By | February 21, 2019

Empanelment of Members to act as Observers at the Examination Centres for The Chartered Accountants Examinations May / June 2019 – (21-02-2019) 13-CA (Exams)/Observer Empanel /May – June 2019 20th February, 2019 ANNOUNCEMENT EMPANELMENT OF MEMBERS TO ACT AS OBSERVERS AT THE EXAMINATION CENTRES FOR THE CHARTERED ACCOUNTANTS EXAMINATIONS MAY / JUNE 2019 It is… Read More »

GSTN Suggested ITC utilization on GST Portal

By | February 21, 2019

GSTN Suggested ITC utilization on GST Portal जीएसटीएन द्वारा सुझाए गए आईटीसी का उपयोग My Opinion: GSTN has no power to Suggested ITC utilization on GST Portal Taxpayer is ultimately responsible for wrong Utilization of Input Tax credit on GST Portal, Even though it was suggested by GSTN on GST Portal

Bank Guarantee When Goods Seized in transit under GST

By | February 21, 2019

Bank Guarantee When Goods Seized in transit under GST Goods in transit must be accompanied by prescribed documents (Like Eway bill, Tax Invoice, Bill of Supply, Delivery Challan etc)  without which they may be detained and confiscated. To release goods without payment of taxes and penalty , you are required give Bond for the value of… Read More »

Amendment to All Industry Rates of duty drawback from 20.02.2019 : Circular No 5/2019-Customs

By | February 21, 2019

Amendment to All Industry Rates of duty drawback effective from 20.02.2019 Circular No 5/2019-Customs F. No. 609/4/2019-DBK Government of India Ministry of Finance, Department of Revenue Central Board of Indirect Taxes & Customs New Delhi, dated 20th February, 2019 To, All Principal Chief Commissioners / Chief Commissioners of Customs/Customs (Preventive)/ Customs & Central Tax All… Read More »

New Whatsapp Touch ID & Face ID Feature : Stop others reading your Whatsapp messages

By | February 21, 2019

New Whatsapp Touch ID & Face ID Feature At WhatsApp deeply about private messaging, and introduced Touch ID and Face ID on iPhone to help prevent someone from taking your phone and reading your messages. To enable the iPhone feature in WhatsApp, tap Settings > Account > Privacy > Screen Lock and turn on Touch ID or Face ID. You have the option… Read More »

Notification No 09/2019 Central Tax : GSTR 3B January 2019 Date Extended

By | February 21, 2019

Seeks to extend the due date for furnishing FORM GSTR-3B for the month of January, 2019 to 28.02.2019 for registered persons having principal place of business in the state of J&K; and 22.02.2019 for the rest of the States. [To be published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i)] Government… Read More »

GST on Retention Money of Contractor Invoice

By | February 21, 2019

GST on Retention Money of Contractor Invoice Retention Money is normally used in works contact . Where supplier agrees that certain percentage of invoice will be paid by client after certain period. Normally Retention money percentage is 5 % / 10 % appx. This is retained by the customer/ recipeint from Supplier invoice to ensure… Read More »

No adjournment because of appellant’s counsel being out of station : SC

By | February 20, 2019

SUPREME COURT OF INDIA Ram Siromani Tripathi v. State of Uttar Pradesh A. K. SIKRI, S. ABDUL NAZEER AND M.R. SHAH, JJ. CIVIL APPEAL NOS. 9142 AND 9144 OF 2010 & 6156 OF 2012 FEBRUARY  7, 2019 R.K. Ojha, Adv., Balraj Dewan and Dr. Vinod Kumar Tewari, AOR’s for the Appellant. Pramod Swarup, Sr. Adv. Ms. Prerna Swarup, Ms. Alka Sinha, Advs. Ravindra Kumar and Anuvrat Sharma, AOR’s for the… Read More »

No Income Tax on sales tax waiver as it is capital receipt : HC

By | February 20, 2019

HIGH COURT OF BOMBAY Commissioner of Income-tax-LTU v. Indian Petrochemicals Corpn. Ltd. AKIL KURESHI AND M.S. SANKLECHA, JJ. IT APPEAL NO. 1428 OF 2016 JANUARY  22, 2019 Tejveer Singh for the Appellant. J.D. Mistri, Sr. Adv., P.C. Tripathi and Amit Mathur for the Respondent. ORDER 1. The Revenue is in Appeal against the Judgment of the Income Tax Appellate Tribunal (in short “the Tribunal”),… Read More »

How to Buy LIC Policies Online

By | February 20, 2019

You can buy LIC Policies (Life Insurance Corporation of India) through internet. Buy LIC Policies Online For a customer who is comfortable using the internet and has some experience of having made an online purchase, buying life insurance online is an easy and a logical option. It’s fast, easy and secure – just fill in… Read More »

Pay Income Tax on Capital Gain of Land if Possession handed over even if agreement to sell cancelled later on : HC

By | February 20, 2019

The argument of the learned senior counsel for the assessee that contract was subsequently rescinded will not be of any help because the contract was rescinded only subsequent to the assessment year and what we are concerned for the purpose of the Act is the transactions which took place during the assessment year. HIGH COURT… Read More »

How to check EPF Balance

By | February 20, 2019

EPF Balance Check Employee Provident Fund (EPF)  balance can be checked by following methods 1. Check EPF Balance on EPFO Portal  To check EPF balance, make sure that the employer has activated your Universal Account Number (UAN). Universal Account Number or UAN  is unique for all the employees enrolled under the EPF scheme. A UAN number is allotted… Read More »

Govt approved Promulgation of Companies (Second Amendment) Ordinance 2019

By | February 20, 2019

Ministry of Corporate Affairs Cabinet approves Promulgation of the Companies (Second Amendment) Ordinance 2019 Posted On: 19 FEB 2019 The Union Cabinet chaired by Prime Minister Narendra Modi has approved the Promulgation of the Companies (Second Amendment) Ordinance 2019 and for replacement of the said Ordinance in Parliament by a replacement Bill. It is based on… Read More »

Govt approved Banning of Unregulated Deposit Schemes Ordinance 2019

By | February 20, 2019

Cabinet Cabinet approves Promulgation of the Banning of Unregulated Deposit Schemes Ordinance, 2019 Posted On: 19 FEB 2019 The Union Cabinet chaired by Prime Minister Narendra Modi has approved the Promulgation of Unregulated Deposit Schemes Ordinance, 2019. Benefits: The proposed Ordinance will immediately tackle the menace of illicit deposit taking activities in the country launched… Read More »

12 % DA to Center Govt Employee and Pensioners from 01.01.2019

By | February 20, 2019

Ministry of Finance Cabinet approves release of an additional instalment of DA to Central Government employees and DR to Pensioners, due from 1.1.2019 Posted On: 19 FEB 2019 The Union Cabinet chaired by Prime Minister Narendra Modi has given its approval to the release of an additional instalment of Dearness Allowance (DA) to Central Government… Read More »

Govt approved National Policy on Electronics 2019

By | February 20, 2019

Cabinet Cabinet approves the proposal of National Policy on Electronics 2019  Posted On: 19 FEB 2019 Decision The Union Cabinet today gave its approval to the National Policy on Electronics 2019 (NPE 2019), proposed by the Ministry of Electronics and Information Technology (MeitY). The Policy envisions positioning India as a global hub for Electronics System… Read More »

Cost Accountant required to have mandatory training before applying for Certificate of Practice

By | February 20, 2019

THE INSTITUTE OF COST ACCOUNTANTS OF INDIANOTIFICATIONNew Delhi, the 1st February, 2019 F. No. CWA/21/2019.— “In exercise of the powers conferred on it under the Regulation No. 10 of the Cost and Works Accountants Regulation, 1959, the Council of the Institute of Cost Accountants of India hereby issues the following conditions for issuing or renewing… Read More »

No Income Tax on Start up on issuance of shares up to Rs. 25 crore : Notification

By | February 20, 2019

MINISTRY OF COMMERCE AND INDUSTRY (Department for Promotion of Industry and Internal Trade) NOTIFICATION New Delhi, the 19th February, 2019 G.S.R. 127(E).— This notification is being issued in supersession of the GazetteNotification No. G.S.R. 364(E) dated April 11, 2018 as modified vide Gazette Notification No. G.S.R. 34 (E) dated January 16, 2019. Definitions 1. In this notification,—… Read More »