Daily Archives: September 17, 2016

Gujarat may use GST to woo U.S.

By | September 17, 2016

Several U.S. State Governors and Amazon founder Jeff Bezos are likely to participate in the 2017 edition of the Vibrant Gujarat Summit. A team of officials from the State government and Invest India led by Gujarat Resident Commissioner Bharat Lal met U.S. business leaders and lawmakers this week in several cities. The passage of the… Read More »

Category: GST

Maharashtra approves VAT, petrol hike as it prepares for GST roll-out

By | September 17, 2016

Maharashtra:- From electronic goods and four-wheelers to petrol and spices, a number of consumer durables and food products are set to get costlier with the Bharatiya Janata Party (BJP)-led government approving a hike to value-added tax (VAT) for the second time this fiscal, citing rising expenses on the state’s various infrastructure development schemes. The state… Read More »

Category: GST

GST Council is fighting against time

By | September 17, 2016

The goods and services tax (GST) council that has been notified this week will be another important step towards cooperative federalism. Earlier, states had no role in deciding central taxes, but now, under GST, the council will decide on the central GST rate and the state GST rate. It will have the important responsibility of… Read More »

Category: GST

Book on Labour Laws Practice & Procedures with Model Forms

By | September 17, 2016

Practice & Procedures of Labour Laws with Model Forms (English)  (Hardcover, H.L. Kumar) BUY Features of  Practice & Procedures of Labour Laws with Model Forms Publication Year 2016 July This book is designed to meet the requirements of those connected with labour management and for ensuring compliances of labour-related laws. It will be of great help to… Read More »

Book on Insurance Law and Practice

By | September 17, 2016

Insurance Law and Practice (English)  (Hardcover, Dr. C.L. Tyagi, Dr. (Mrs.) Madhu Tyagi) BUY The book is primarily prescribed for B.com, BBA and MBA students offering Insurance as a major or minor subject. The book covers new topics like creditability theory, back dating, insurance frauds and is comprehensive. Those offering insurance as a professional may find… Read More »

Draft Bill of Major Port Authorities Act 2016 uploaded on Govt Website

By | September 17, 2016

Draft Bill of ‘ Major Port Authorities Act, 2016 ’ uploaded on Ministry’s Website for Comments from Various Stakeholders The Ministry of Shipping has prepared a draft Bill “ Major Port Authorities Act, 2016 ” to replace the Major Port Trusts Act, 1963.  With a view to promote the port infrastructure and facilitate trade and… Read More »

TDS -amount paid to visiting doctors on basis of patients attended would attract sec. 194J TDS and not sec. 192 TDS

By | September 17, 2016

IN THE ITAT BANGALORE BENCH ‘C’ Hosmat Hospital (P.) Ltd. v. Assistant Commissioner of Income-tax, (TDS), Circle 18 (1), Bangalore VIJAY PAL RAO, JUDICIAL MEMBER AND INTURI RAMA RAO, ACCOUNTANT MEMBER IT APPEAL NOS. 572, 575, 576, 879, 880 & 881 (BANG.) OF 2014 [ASSESSMENT YEARS 2011-12 TO 2013-14] AUGUST  11, 2016 S. Annamalai, Adv.… Read More »

Corrigendum to Notification No. S.O.2380(E) dated the 12th July 2016

By | September 17, 2016

Corrigendum to Notification No. S.O.2380(E) dated the 12th July 2016 MINISTRY OF FINANCE (Department of Revenue) Notification No. 62/2016 CORRIGENDUM New Delhi, the 14th September, 2016 S.O. 2943(E).-In the notification of the Government of India, Ministry of Finance (Department of Revenue) number S.O.2380(E) dated the 12th July 2016, PUBLISHED IN THE Gazette of India, Extraordinary,… Read More »

DGFT Clarify on issuance of Free Sale & Commerce Certificate to Merchant Exporters

By | September 17, 2016

GOVERNMENT OF INDIA MINISTRY OF COMMERCE AND INDUSTRY DEPARTMENT OF COMMERCE DIRECTORATE GENERAL OF FOREIGN TRADE NEW DELHI POLICY CIRCULAR NO 02/2015-20  Dated: September 15, 2016 Subject: Issuance of Free Sale & Commerce Certificate to Merchant Exporters – reg. Para 2.37 of Hand Book of Procedure, 2015-2020 deals with the issue of Free Sale &… Read More »

NOTIFICATION NO 82/2016 by CBDT

By | September 17, 2016

GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF REVENUE CENTRAL BOARD OF DIRECT TAXES NOTIFICATION NO 82/2016 New Delhi ; Dated: September 15, 2016 S.O.2961(E). In exercise of the powers conferred under clause (ii) of sub-section (1) of section 35 of the Income-tax Act, 1961 read with rules 5C and 5E of the Income-tax Rules,… Read More »

Form ARE-2 Amended by CBEC

By | September 17, 2016

Seeks to amend Form ARE-2-reg GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) NOTIFICATION No. 44/2016- Central Excise (N.T.) New Delhi, the 16th September, 2016 G.S.R. (E). – In exercise of the powers conferred by rule 18 of the Central Excise Rules, 2002, the Central Government being satisfied that it is necessary in public… Read More »

Increase in Basic Customs Duty for Marble and Travertine blocks, Marble slabs and Granite slab

By | September 17, 2016

Seeks to further amend notification No.12/2012-Customs, dated 17.03.2012 so as to increase the effective rate of Basic Customs Duty for Marble and Travertine blocks, Marble slabs and Granite slabs with effect from 01.10.2016 GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) Notification No. 49/2016-Customs New Delhi, the 16th September, 2016 G.S. R. (E).-In exercise… Read More »

Supply of goods by EOUs without payment of Central Excise Duty against Advance Licence/Authorisation

By | September 17, 2016

F. No. 268/01/2016-CX.8 Government of India Ministry of Finance Department of Revenue) (Central Board of Excise & Customs) Circular No. 1046/34/2016-CX New Delhi, the 16th September, 2016 To The Chief Commissioners of Customs Central Excise & Service Tax (All); The Chief Commissioners of Customs (All); The Director Generals/Directors of Customs, Central Excise & Service Tax… Read More »

Incriminating material during search is pre-requisite for assessment of other person under sec. 153C

By | September 17, 2016

Held We are in agreement with the views expressed by the Karnataka High Court that incriminating material is a pre-requisite before power could have been exercised under section 153C read with section 153A. HIGH COURT OF CALCUTTA Commissioner of Income-tax, Kolkata-III v. Veerprabhu Marketing Ltd. GIRISH CHANDRA GUPTA AND ARINDAM SINHA, JJ. IT APPEAL NO.… Read More »

Rebate of duties paid on raw materials used in manufacture or processing of export goods and admissibility of duty drawback in such cases

By | September 17, 2016

F. No. 268/01/2016-CX.8 Government of India Ministry of Finance Department of Revenue) (Central Board of Excise & Customs) New Delhi, the 16th September, 2016 Circular No. 1047/35/2016-CX To The Principal Chief Commissioners/Chief Commissioners of Customs Central Excise & Service Tax (All); The Principal Chief Commissioners/Chief Commissioners of Customs (All); The Director Generals/Directors of Customs, Central… Read More »

IDS 2016 -All Circulars/FAQ/Notifications issued by CBDT at one Place

By | September 17, 2016

Income Declaration Scheme 2016 (IDS 2016) Latest Books on Income Declaration Scheme 2016 (IDS 2016) CBDT had issued the following Scheme and Rule in theIncome Tax  Act on Income Declaration Scheme 2016 (IDS 2016) :- Income Declaration Scheme 2016 -Chapter IX of Finance Act 2016 Income Declaration Scheme 2016 Explanatory notes [Circular No. 16 of 2016, F.No.370142/8/2016-TPL, Dated 20.05.2016] Income Declaration Scheme Rules… Read More »

Income Declaration Scheme 2016 -Chapter IX of Finance Act 2016

By | September 17, 2016

CHAPTER IX OF THE FINANCE ACT, 2016 THE INCOME DECLARATION SCHEME, 2016 Short title and commencement. 181. (1) This Scheme may be called the Income Declaration Scheme, 2016. (2) It shall come into force on the 1st day of June, 2016. Definitions. 182. In this Scheme, unless the context otherwise requires,— (a) “declarant” means a… Read More »

Book on IFRS -International Financial Reporting Standards-2016 Edition

By | September 17, 2016

International Financial Reporting Standards-IFRS (Set in Three Parts) (English)  (Paperback, Taxman) BUY Features of Book on IFRS -International Financial Reporting Standards Author : Taxmann Language: English Binding: Paperback Publisher: Taxmann Publication Genre: Professional ISBN: 9789350718643, 9350718642 Publication Year 2016

GST Ready Reckoner -Book [ July 2016]

By | September 17, 2016

GST Ready Reckoner (English)  (Paperback, CA. Keshav R Garg) BUY Features of  GST Ready Reckoner Language: English Binding: Paperback Publisher: Bharat Law House Pvt. Ltd. Genre: Academic and Professional ISBN: 9789351394129, 9351394123 Publication Year 2016

Category: GST

MVAT rates hiked to 6% & 13.5% wef 17.09.2016

By | September 17, 2016

Maharashtra Notification Amends Schedule C, D, & E Enhance tax rate to 6% and 13.5% from existing 5.50% and 12.50 w.e.f. 17-9-2016 which in effect Results in 0.50 to 1% increase in VAT Rates, vide Notification No. VAT. 1516/CR-123/Taxation-1- Dated 16th September, 2016. Text of the Notification is as follows :- FINANCE DEPARTMENT Madam Cama… Read More »

GST- Govt notified 19 sections w.e.f 16.09.2016 of Constitution (One Hundred and First Amendment) Act 2016

By | September 17, 2016

MINISTRY OF FINANCE (Department of Revenue) NOTIFICATION New Delhi, the 16th September, 2016 S.O. 2986(E).-In exercise of the powers conferred by sub-section (2) of section 1 of the Constitution (One Hundred and First Amendment) Act, 2016, the Central Government hereby appoints the 16th day of September, 2016 as the date on which the provisions of… Read More »

Category: GST