Daily Archives: September 22, 2016

GST-Scope of Supply-FAQ’s on GST by CBEC

Meaning and Scope of Supply FAQ’s on GST by CBEC Q 1. What is the taxable event under GST? Ans. The taxable event under GST shall be the supply of goods and / or services made for consideration in the course or furtherance of business. The taxable events under the existing indirect tax laws such… Read More »

GST Registration-FAQ’s on GST by CBEC

GST Registration – FAQ’s on GST by CBEC BUY Q 1. What is advantage of taking registration in GST? Ans. Registration under Goods and Service Tax (GST) regime will confer following advantages to the business: • Legally recognized as supplier of goods or services. • Proper accounting of taxes paid on the input goods or services… Read More »

GST-Levy of and Exemption from Tax -FAQ’s on GST by CBEC

Levy of and Exemption from Tax under GST Q 1. Where is the power to levy GST derived from? Ans. Article 246A of the Constitution, which was introduced by the Constitution (101st Amendment) Act, 2016 confers concurrent powers to both parliament and state legislatures to make laws with respect to GST. However, -clause 2 of… Read More »

Category: GST

GSTN will start migrating taxpayers onto its system from next month

GSTN will start migrating existing taxpayers onto its system from next month In the recent interview of Mr. Navin Kumar, Chairman of GSTN with the Business Line, he said that the Goods and Services Tax Network (GSTN) will start migrating over 80 lakh taxpayers onto its system from the next month for the smooth implementation… Read More »

Category: GST

GST Overview as per FAQ’s on GST by CBEC

Overview of Goods and Services Tax (GST) Q 1. What is Goods and Service Tax (GST)? Ans. It is a destination based tax on consumption of goods and services. It is proposed to be levied at all stages right from manufacture up to final consumption with credit of taxes paid at previous stages available as… Read More »

GST Council to meet for the first time today

The recently constituted Goods and Service Tax (GST) Council will meet for the first time on Thursday. An official said in the twoday meeting, all issues facing the roll- out of the centralised indirect tax regime would be on the table. Some of the issues that will come up before the council — chaired by… Read More »

Category: GST

States want GST Council and FMs’ panel, too

States want the empowered committee of state finance ministers to continue, though a GST (Goods and Services Tax) Council has been set up to recommend on key areas such as draft model Bills, rates, dual control of central and state officials over assesses. “The states want the empowered committee to function parallel to the GST… Read More »

Category: GST

GST FAQs: E- tailers, taxi aggregators need to register

A day before the GST Councils first meeting, the Central Board of Excise and Customs (CBEC) on Wednesday came out with an extensive clarifications detailing taxability of e- commerce players and taxi aggregators under the new setup. The 268- page frequently asked questions (FAQ) booklet, released by Finance Minister Arun Jaitley, answered 500 questions on… Read More »

Book -Aug 2016-Prevention of Money Laundering Act 2002 with Rules (Bare Act)

Prevention of Money Laundering Act 2002 with Rules (Bare Act) (August 2016 Edition) Paperback – 2016 BUY As Amended by Finance Act 2016. Also Incorporating : 13 Rules / Regulations framed under prevention of Money Laundering Act , Notifications Paperback: 212 pages Publisher: Taxmann Publications Pvt. Ltd.; 2016 Edition edition (2016) Language: English ISBN-10: 938618916X… Read More »

Insurance Laws Manual -2016-Book

Insurance Laws Manual Paperback – 2016 BUY Insurance Laws Manual Paperback – 2016 Incorporating *Insurance Act *IRDA Act *57 Rules/Regulations frames under IRDA Act Paperback: 1472 pages Publisher: Taxmann; 17th Edition 2016 edition (2016) Language: English ISBN-10: 9350717948 ISBN-13: 978-9350717943 ASIN: B00YN4KCTI Product Dimensions: 21.4 x 14.9 x 1.9 cm

Reserve Bank of India Act 1934 -Bare Act -2016 Edition

Reserve Bank of India Act 1934 (Bare Act) (2016 Edition) BUY Reserve Bank of India Act 1934 (Bare Act) (2016 Edition) As Amended by the Finance Act 2016 [Act No. 28 of 2016]. Also incorporating : Reserve Bank of India (Board for Financial Supervision) Regulations 1994. **** Reserve Bank of India (Note Refund) Rules 2009… Read More »

Bare Act- Foreign Contribution ( Regulation ) Act With Rules – 2016-Book

Foreign Contribution ( Regulation ) Act With Rules Paperback – 2016 BUY Foreign Contribution ( Regulation ) Act With Rules Paperback – 2016 incorporating *Foreign Contribution (Regulation) Act *Foreign Contribution (Regulation) Rules 2011 *Foreign Contribution(Acceptance or Retention of Gifts or Presentations) Rules 2012 Paperback Publisher: Taxmann (2016) Language: English ISBN-10: 9350718081 ISBN-13: 978-9350718087

Foreign Bank Account Reporting Compliance Guide 2016-Book

Foreign Bank Account Reporting Compliance Guide 2016 BUY Foreign Bank Account Reporting Compliance Guide 2016 If one owns or has authority over a foreign financial account, including a bank account, brokerage account, mutual fund, unit trust or some other type of financial account, he or she may be required to make an annual report of… Read More »

Guide to Start Ups-Book– 2016

Guide to Start UPS Paperback – 2016 BUY Guide to Start UPS Paperback – 2016 A Complete Guide for Start-ups. ***Formation, Incubation,Funding, Staffing & Internal Controls Taxation***DIPP Notifications, Start-up Action Plan***Model Drafts***Procedural Guidelines Paperback: 460 pages Publisher: Taxmann Publications Pvt. Ltd.; 2016 Edition edition (2016) Language: English ISBN-10: 9350718537 ISBN-13: 978-9350718537 Product Dimensions: 24.3 x… Read More »

Book-Prohibition of Benami Property Transaction Act 1988 (Sept 2016 Edition)

Your Queries on Prohibition of Benami Property Transaction Act 1988 (September 2016 Edition) Paperback – 2016 BUY Your Queries on Prohibition of Benami Property Transaction Act 1988 (September 2016 Edition) Paperback – 2016 As Amended by Benami Transactions [Prohibition] Amendment Act 2016 [Act No. 43 of 2016] Paperback: 188 pages Publisher: Taxmann Publications Pvt. Ltd.;… Read More »

Book-Company Law Manual (Edition ,September 2016)

Company Law Manual (5th Edition, September 2016) BUY Company Law Manual (5th Edition, September 2016) A Compendium of Companies Act 2013 along with Relevant Rules & Forms. Paperback: 1844 pages Publisher: Taxmann Publications Pvt. Ltd.; 5th Edition edition (2016) Language: English ISBN-10: 9386189445 ISBN-13: 978-9386189448

Book FEMA Manual With FDI Ready Reckoner -Edition July 2016

Foreign Exchange Management Manual With FEMA & FDI Ready Reckoner (Set of 2 Volumes) (29th Edition, July 2016) BUY Foreign Exchange Management Manual With FEMA & FDI Ready Reckoner (Set of 2 Volumes) (29th Edition, July 2016) Product Description Set of 2 Volumes Paperback: 3144 pages Publisher: Taxmann Publications Pvt. Ltd.; 29th Edition edition (2016)… Read More »

Govt approves Restrictions on Edible oils/ oilseeds & Pulses till 30.09.2017

Press Information Bureau Government of India Cabinet Dated: 21-September-2016 Cabinet approves extension of the validity of Central Orders dated 28.09.2015 in respect of edible oils and edible oilseeds and Central Order No. S.O. No. 2857(E) dated 18.10.2015 in respect of pulses from 01.10.2016 to 30.09.2017 The Union Cabinet under the Chairmanship of Prime Minister Shri… Read More »

Duplicate UANs issued to one EPF member : EPFO clarify procedure

Employees’ Provident Fund Organisation Ministry of Labour & Employment, Govt. Of India Head Office Bhavishya Nidhi Bhawan, 14-Bhikaji Cama Place, New Delhi-110066 Website : epfindia.gov.in, Telephone: 011-26172680 FAX: 011-26175913 No. R-1/P-20/UAN/2014/VoI.II/pt./509/16046 Dated: 21.09.2016 To, All Additional Central PF Commissioner (Political States), All Regional PF Commissioner, In-charge of Regions, All Officer in Charge, Sub-Regional Offices. Sub:… Read More »

Staggered delivery, early delivery system, early pay-in facility, penalty on delivery default, fixation of FSP and changes in expiry dates

CIRCULAR SEBI/HO/CDMRD/DRMP/CIR/P/2016/90 September 21, 2016 To, The Managing Directors/Chief Executve Officers, National Commodity Derivatives Exchanges Sir/Madam, Sub: Staggered delivery, early delivery system, early pay-in facility, penalty on delivery default, fixation of FSP and changes in expiry dates 1. As per Section 131[B]of the Finance Act, 2015 all rules, directions, guidelines, instructions, circulars, or any like… Read More »

Disclose revenue inclusive of excise duty in Financial Results: SEBI

Bombay Stock Exchange DCS/COMP/10/2016-17 September 20, 2016 Dear Sir/Madam, Sub: Clarification by SEBI regarding Revenue recognition and Excise Duty Restrictions. SEBI had issued a circular dated November 30, 2015, wherein, it was prescribed that ‘revenue from operations’ may be disclosed net of excise duty. Subsequently, as per Schedule III of the Companies Act, 2013, which was notified on… Read More »

MCA :- Register Your Complaint with supporting document

A new feature has been added while raising complaints of MCA portal. Now a person can attach document or error screenshot in “Supporting Documents” field. Earlier the same had to be sent via email writing complaint number in subject. This new feature will bring ease among the professionals while raising tickets. It is also hopeful… Read More »

Settlement order amount not paid, Immunity granted shall stand withdrawn

F. No. 275/29/2016-CX.8 A Government of India Ministry of Finance Department of Revenue Central Board of Excise & Custom (Legal Cell) New Delhi dated the 21st September, 2016 Instruction To All Principal Chief Commissioners/Chief Commissioners and Principal Directors General/Directors General under CBEC All Joint Secretaries and Principal Commissioners/Commissioners in D/o Revenue/ CBEC, New Delhi Web-master,… Read More »

FAQ on GST by CBEC

F. No.296/07/2016-CX.9 Govt. of India Ministry of Finance Department of Revenue (Central Board of Excise and Customs) New Delhi, the 21st September, 2016 OFFICE MEMORANDUM Please find enclosed a Press Note issued by Central Board of Excise and Customs on — “FAQ on GST by CBEC” for taking necessary action at your end. Encls: As… Read More »

Category: GST

Withdrawal of Notifications granting approval u/s 35(1)(ii) in few cases

F.No.203/09/2015/ITA.II Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi, the, 21st September, 2016 OFFICE MEMORANDUM Subject: Withdrawal of Notifications granting approval u/s 35(1)(ii)of the income-tax Act, 1961 in some cases-reg. Kind reference is invited to above. 2. In this regard, I am directed to state that the… Read More »

CBDT clarify disclosure of information u/s 138

F. NO. 225/120/2016/ITA.II Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes North Block, New Delhi Dated the 21st of September, 2016 Subject: Providing information under section 138 of Income-tax Act, 1961- clarification in respect of Notification No. SO 576 dated 23.05.2003 issued by CBDT- regd.- Section 138 of the Income-tax Act,… Read More »

IDS 2016 : Clarification on declaration on identical issue which is pending assessment under section 143(3)/147

F. No. 282/227/2016-IT(Inv-.V)/26/2016 Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes (Investigation Division) New Delhi, dated 21st September, 2016 Order under section 119 of the Income-tax Act, 1961 Circular No.17 of 2016 dated 20.05.2016 relating to the Income Declaration Scheme, 2016 (the Scheme) clarifies that a person shall be eligible to make declaration… Read More »