Daily Archives: September 16, 2016

Flipkart Makes First Move as Ecomm Sector Prepares for GST Rollout

Flipkart Makes First Move as Ecomm Sector Prepares for GST Rollout The ecommerce sector is preparing to ensure compliance with the goods & services tax system before the new tax regime’s targeted rollout date of April 1 next year, even as it continues to negotiate with the government over some provisions in the law. Providing… Read More »

Category: GST

Share capital received can’t be treated as business income

SUPREME COURT OF INDIA G. S. Homes & Hotels (P.) Ltd.# v. Deputy Commissioner of Income-tax RANJAN GOGOI AND PRAFULLA C. PANT, JJ. CIVIL APPEAL NOS. 7379-7380 OF 2016 AUGUST  9, 2016 Preetesh Kapur and Ms. Radha Rangaswamy, Advs. for the Petitioner. Ranjit Kumar, Solicitor General, Ms. Anita Sahani, S. Wasim A. Qadri, Ms. Anita… Read More »

Transfer takes place when possession of land handed over to builder and not when sale deed is registered in case of joint development agreement

Held There is a fair disclosure by the assessee regarding the sale of the impugned property. In that assessment year i.e.2006-07, it is said to be accepted by the Department that as there was no transfer of capital asset as an agricultural land. It is not the case of the Department that it was subject… Read More »

Pharma units in Gujarat look with high hopes on GST roll out

The pharmaceutical industry in Gujarat looks at the roll out of Goods and Services Tax (GST) with high hopes. With the uniform tax structure in the country under GST regime, the industry in the State, looks to regain its lost share in the country’s overall pharmaceutical business in the coming two years. According to industry… Read More »

Category: GST

God And Devil Lies In The Detail Of The GST: Congress

Congress on Wednesday said the “God and the Devil lies in the detail” of the GST and would not like to prejudice the decision of the Council, even as took a dig at the Centre for its “self-congratulatory patting” at beginning of GST journey as nine-tenth of its details are yet to come. “We have… Read More »

Category: GST

President appointed Arun Jaitely as Chairman of GST Council

MINISTRY OF FINANCE (Department of Revenue) NOTIFICATION New Delhi, the 15th September, 2016 S.O. 2957(E).—The following Order made by the President is published for general information:— ORDER In exercise of the powers conferred by article 279A of the Constitution, the President hereby constitutes the Goods and Services Tax Council consisting of the following members, namely:-… Read More »

Centre sticks to its guns over dual control of GST

Finance ministry officials argue dual control is vital because the Centre is accountable to Parliament for its share of the tax. “Tomorrow, if Parliament asks why the tax base is not increasing, the Centre will be unable to answer. And states may say they have an elected body to whom they are answerable,” an official… Read More »

Category: GST

Book on Mastering Tally ERP 9

Tally ERP 9 book Mastering Tally ERP 9 (English) 2nd revised and updated edition Edition  (Nadhani A K) Tally ERP 9 book explains extensive features of Tally.ERP 9. Link to BUY Features of Mastering Tally. ERP 9 Language: English Publisher: BPB PUBLICATIONS-NEW DELHI ISBN: 9788183334754, 818333475X Edition: 2nd revised and updated edition Pages: 384 Implementation Guide for serious… Read More »

Guidelines for Issuance of Duty Credit Scrips under Incremental Export Incentivisation Scheme (IEIS)

Government of India Ministry of Commerce & Industry Department of Commerce Directorate General of Foreign Trade Udyog Bhawan, New Delhi Trade Notice No. 16/2016 Date: 14th September 2016 To 1. All RAs of DGFT 2. Customs Authorities Subject: Guidelines for Issuance of Duty Credit Scrips under Incremental Export Incentivisation Scheme (IEIS) for Quarterly period (01.01.2013… Read More »

Transmission of Securities procedure standardized and simplified by SEBI

CIRCULAR SEBI/HO/MIRSD3/CIR/P/2016/0000000085 September 15 , 2016 To All recognized Stock Exchanges All Registrars to an Issue and Share Transfer Agents registered with SEBI All Depositories, Sir / Madam, Sub: Standardization and Simplification of Procedures for Transmission of Securities 1. With a view to make the process of transmission of securities more efficient and investor friendly,… Read More »

Book on Transfer Pricing With Transfer Pricing Audit -2016 Edition

Guide To Transfer Pricing With Transfer Pricing Audit (ENGLISH)  (Paperback, TAXMANN) This Book on Transfer Pricing contains detailed provisions on Transfer pricing as amended by Finance Act 2016 (India) You can Click to BUY this book online Features of Book on Transfer Pricing With Transfer Pricing Audit Language: ENGLISH Binding: Paperback Publisher: TAXMANN Genre: Professional ISBN: 9789350719121, 9350719126 Publication Year… Read More »

List of Income Tax Benefits for Salaried Employees [AY 2017-18]

Income Tax Benefits for Salaried Employees [AY 2017-18] BUY Salaried persons constitute a large chunk of total taxpayers in India and their contribution to total tax collection is substantial. The document includes brief introduction and tax treatment of various allowances and perquisites available to an employee, inter-alia, house rent allowance, gratuity, provident fund and so forth.… Read More »