Daily Archives: September 9, 2016

Guidelines for engagement of Income Tax Dept. Special Public Prosecutors

By | September 9, 2016

F.No.  279/Misc./M-77/2011-ITJ Government of India Ministry of Finance Department of Revenue Central Board Direct Taxes (A&J Division) Instruction No. 6/2016 New Delhi, the 7th September, 2016 Sub: Guidelines for engagement of Special Public Prosecutors (SPPs) to represent the Income Tax Department before Courts of Session and its subordinate Courts; revision of their schedule of fees… Read More »

Revised Guidelines for engagement of Income-tax dept. Counsels

By | September 9, 2016

F No 279/Misc./M-75/201 1-ITJ (Part-II) Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes Instruction No. 7/2016 New Delhi the 7th September, 2016 To All Principal Chief Commissioners of Income-tax Sub: Revision of the Guidelines for engagement of Standing Counsels to represent the Income-tax Department before High Courts and other… Read More »

Update the Traces Profile if intimations from CPC -TDS not received

By | September 9, 2016

Centralized Processing Cell (TDS) has communicated by an advisory that many times intimations sent to TDS deductors not get delivered / served as the address mentioned in the TDS statement filed by Deductor is either not correct or dedutor failed to provide complete postal address while filing his statements. In view of this deductors are advised… Read More »

Service Tax exemption on Renting of precincts of Religious Place- restricted

By | September 9, 2016

The Mega Exemption Notification 25/2012, entry no. 5(a) provides exemption to: Services by a person by way of renting of precincts of a religious place meant for general public. Recently, the Ministry of Finance (Department of Revenue) vide Notification 40/2016 ST dated 06-09-2016, has amended the said entry 5(a), with the following: “Services by a… Read More »

GST Rules may be Eased for Banks & NBFCs

By | September 9, 2016

The government may be looking at relaxing some rules in the goods and services tax (GST) framework that could make life little easier for banks NBFCs and insurance companies, people in the know said. In the revised model law set to be released in the first week of October, two main changes-single registration and centralised… Read More »

Category: GST

Taxes replaced by GST (Goods and Service Tax)

By | September 9, 2016

Which taxes at the Centre and State level are being subsumed into GST? Answer        At the Central level, the following taxes are being subsumed: Central Excise Duty, Additional Excise Duty, Service Tax, Additional Customs Duty commonly known as Countervailing Duty, and Special Additional Duty of Customs. At the State level, the following… Read More »

Category: GST

After President’s Assent, next steps ahead on GST

By | September 9, 2016

President Pranab Mukherjee on Thursday gave assent to the Constitution Amendment Bill  on Goods and Services Tax (GST), a major step towards rolling out the new indirect tax regime which the Modi government wants to come into effect from April 1 next year. After the nod from the President and its Gazette notification, the process remains long in… Read More »

Category: GST