Daily Archives: September 27, 2016

Draft GST tax audit report and ITC mismatch report released by CBEC

By | September 27, 2016

Govt. releases draft format of GST tax audit report and ITC mismatch report On September 26, 2016 the CBEC had notified draft Rules and Forms under GST relating to registration, invoice and payments. Now the Govt. has notified draft Rules/Forms for GST returns and refunds along with the formats of Audit Report (Form GST 9A)… Read More »

GSTN-Frontend Business Process on GST Portal- FAQ’s on GST by CBEC

By | September 27, 2016

Frontend Business Process on GST Portal FAQs on GST released by CBC BUY Q 1. What is GSTN? Ans. Goods and Services Tax Network (GSTN) is a nonprofit non-government company, which will provide shared IT infrastructure and service to both central and state governments including tax payers and other stakeholders. The Frontend services of registration,… Read More »

Auditing & Assurance (IPCC for Nov. 2016) -Book

By | September 27, 2016

Auditing & Assurance (IPCC for Nov. 2016)  BUY Auditing & Assurance (IPCC for Nov. 2016) This book is specially designed for the student appearing in CA Intermediate (IPC) Examinations of ICAI. It has been written in accordance with the latest syllabus prescribed by ICAI. Tabular and graphic presentation to facilitate easy understanding and learning, Inclusion… Read More »

Guide to Transfer Pricing with Transfer Pricing Audit -Book 2016

By | September 27, 2016

Guide to Transfer Pricing with Transfer Pricing Audit Paperback – 2016 BUY Guide to Transfer Pricing with Transfer Pricing Audit Paperback – 2016 As amended by Finance Act 2016 Paperback: 1308 pages Publisher: Taxmann; 6th Edition edition (2016) Language: English ISBN-10: 9350719126 ISBN-13: 978-9350719121 Product Dimensions: 23.9 x 15 x 4.6 cm  

Income Declaration Scheme – Counter to remain open till 12:00 midnight on 30th September, 2016.

By | September 27, 2016

In order to facilitate the declarants, counters for receiving declarations under the Income Declaration Scheme – 2016 to remain functional till 12:00 midnight on 30th September, 2016. In order to facilitate the declarants who would like to file the declaration in paper form under the Income Declaration Scheme, 2016, the Central Board of Direct Taxes… Read More »

GST- 8-layered security wall to protect GST data

By | September 27, 2016

The structure of the board of the Goods and Services Tax Network (GSTN) has enough safeguards to ensure the government has strategic control of the entity, its chairman has said, while asserting that security of sensitive data will have the highest level of protection. “Therefore, by the structure of the board itself the government has… Read More »

GST – No cash Payment above Rs 10000 at Counter

By | September 27, 2016

To make tax payments less cumbersome for taxpayers, the government has proposed that over-the-counter cash payments of 10,000 and above as tax by private companies and traders will not be allowed under the goods and services tax (GST) regime. The draft payment rules, released by the Central Board of Excise and Customs (CBEC), have instead… Read More »

Tripura assembly ratifies GST Bill

By | September 27, 2016

Tripura assembly on Monday unanimously ratified the Constitutional Amendment Bill on Goods and Services Tax (GST). State finance minister Bhanulal Saha moved a resolution to ratify the Constitution (122 Amendment) Bill, 2014, which was passed without any opposition. No legislators from Left Front, Trinamool Congress(TMC) or Indian National Congress raised any question on the GST… Read More »

GST- Offences and Penalties, Prosecution and Compounding- FAQs on GST by CBEC

By | September 27, 2016

Offences and Penalties, Prosecution and Compounding FAQs on GST released by CBC BUY Q 1. What are the prescribed offences under MGL? Ans. The Model GST Law codifies the offences and penalties in Chapter XVI. The Act lists 21 offences in section 66, apart from the penalty prescribed under section 8 for availing compounding by… Read More »

ICAI issued Ind AS- An Overview -Revised 2016

By | September 27, 2016

The Institute of Chartered Accountants of India Indian Accounting Standards (Ind AS): An Overview (Revised 2016) – (26-09-2016) This publication contains an overview of various aspects related to IFRS-converged Indian Accounting Standards (Ind AS) such as Roadmap for the applicability of Ind AS, carve-outs from IFRS/IAS, Changes in financial reporting under Ind AS compared to… Read More »

Declaration Form (New Form No. 11) issued by EPFO

By | September 27, 2016

Employees’ Provident Fund Organisation Ministry of Labour & Employment, Govt. Of India Head Office Bhavishya Nidhi Bhawan, 14-Bhikaji Cama Place, New Delhi-110066 No. Manual/Amendment/2011/16854  Dated: 23.09.2016 To, All Regional P.F. Commissioners In-charge of Regional / Sub-Regional Offices 1. In exercise of power conferred on the Central Provident Fund Commissioner under para 36(7) read along with the provisions of para… Read More »

EPFO asked claim settlement in Inoperative Account from Officers

By | September 27, 2016

Web Circulation only Telephone: 011-26172680 FAX: 011- 26175913 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 No. R-I/P-20/MIS/2014/517 Dated: 26.09.2016 To All Regional PF Commissioner, In-charge of Regions, All Officer in Charge, Sub-Regional Offices. Sub: Details of claim… Read More »

Commodity derivatives -SEBI updated norms specified by FMC

By | September 27, 2016

CIRCULAR SEBI/HO/CDMRD/DRMP/CIR/P/2016/93 September 26, 2016 To, The Managing Directors/Chief Executve Officers, National Commodity Derivatives Exchanges Sir/Madam, Sub: Commodity derivatives – miscellaneous norms Re-issuance of norms specified by erstwhile FMC 1. As per Section 131 [B] of the Finance Act, 2015 all rules, directions, guidelines, instructions, circulars, or any like instruments, made by the erstwhile Forward… Read More »

Investor Protection Fund -SEBI circular for National Commodity Derivatives Exchanges

By | September 27, 2016

CIRCULAR SEBI/HO/CDMRD/DEICE/CIR/P/2016/94 September 26, 2016 To, The Managing Directors / Chief Executive Officers All National Commodity Derivatives Exchanges Sir / Madam, Sub.: Investor Protection Fund (IPF) and its related matters 1. As per Section 131(B) of Finance Act, 2015 all rules, directions, guidelines, instructions, circulars, or any like instruments, made by the erstwhile FMC or… Read More »

Stock Brokers : SEBI issued Guidelines for Supervision

By | September 27, 2016

CIRCULAR SEBI/HO/MIRSD/MIRSD2/CIR/P/2016/95 September 26, 2016 The Managing Directors of all Recognized Stock Exchanges and Depositories Dear Sir/Madam, Subject: Enhanced Supervision of Stock Brokers/Depository Participants 1. SEBI constituted a committee on “Enhanced Supervision of Stock Brokers”, which included representatives from Stock Exchanges, Depositories and Brokers. With a view to implement the recommendations, the guidelines as Annexed… Read More »

Notification No. 46 /2016 – Central Excise (N.T.)

By | September 27, 2016

Seeks to amend Notification No. 20/2016-CE (NT) dated 01.03.2016 [Central Excise (Removal of Goods at Concessional Rate of Duty for manufacture of Excisable and other Goods) Rules, 2016] [TO BE PUBLISHED IN THE GAZETTE OF I DIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (i)] GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) New Delhi,… Read More »

Service Tax on Yoga exempted from Back Date (retrospectively) by Govt

By | September 27, 2016

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION I SUB-SECTION (i)] Government of India Ministry of Finance Department of Revenue Central Board of Excise and Customs Notification No. 42 /2016-Service Tax New Delhi, the 26th September, 2016 4 Asvina,1938 Saka G.S.R. (E).- Whereas, the Central Government is satisfied that in the… Read More »

No Extension in Deadline for IDS

By | September 27, 2016

Government on Friday ruled out any extension to the September 30 deadline for filing income disclosure under the black money compliance window. In a series of tweets, Revenue Secretary Hasmukh Adhia said expectations are raised that looking to the enthusiasm of people for making IDS declaration, the date for income disclosure scheme (IDS) would be… Read More »