Daily Archives: October 19, 2016

Decision on GST rates to be taken next month-GST Council meeting :

GST: Centre, states put off decision on rate to next month “We have converged towards a consensus, announcement will be made after next GST Council meeting. Two standard rates of 12 per cent and 18 per cent under discussion,” said Jaitley. Union Finance Minister Arun Jaitley on Wednesday said the rate structure for Goods and Services… Read More »

USA- Disciplinary Sanctions from the Office of Professional Responsibility

Announcement of Disciplinary Sanctions from the Office of Professional Responsibility The Office of Professional Responsibility (OPR) publishes all disciplinary actions in the Internal Revenue Bulletin (IRB). Published sanctions include censure, suspension or disbarment from practice before the Internal Revenue Service.The below listed individuals have recently been disciplined by OPR and are published in IRB Number 2016-38, dated September 19, 2016, on pages… Read More »

Category: USA

Limited Liability Partnership- Law and Practice -Book

Limited Liability Partnership- Law and Practice, 3E Hardcover – 2016   Limited Liability Partnership- Law and Practice, 3E Hardcover – 2016 A LLP contains features of two long-standing forms of business associations, namely the ‘company’ and the ‘partnership firm’. A LLP, thus, is a hybrid of a company and a partnership. To explore this new… Read More »

USA- Applicable Federal Rates for Nov 2016 -§ 1274.

 Applicable Federal Rates Revenue Ruling 2016-26 provides various prescribed rates for federal income tax purposes including the applicable federal interest rates, the adjusted applicable federal interest rates, the adjusted federal long-term rate, the adjusted federal long-term tax-exempt rate. These rates are determined as prescribed by § 1274. The rates are published monthly for purposes of… Read More »

Book on Information Technology Act with Commentary, Rules, Orders

Commentary On Information Technology Act- With Rules, Regulations, Orders, Guidelines, Reports And Policy Documents Commentary On Information Technology Act- With Rules, Regulations, Orders, Guidelines, Reports And Policy Documents The Information Technology Act, 2000 was enacted to give effect to the United Nations General Assembly resolution adopting the Model Law on Electronic Commerce. It was enacted… Read More »

The Indian Penal Code Book

The Indian Penal Code Book This classic Ratanlal and Dhirajlal’s The Indian Penal Code book, first published in 1896 is a section wise commentary on the Indian Penal Code. The Indian Penal Code This edition has been extensively and meticulously revised taking into account the changes brought about by recent legislative amendments as well as… Read More »

The Law Of Evidence- Book

The Law Of Evidence The Law Of Evidence The law of evidence plays an indispensable role in the administration of justice. It is only through reliable, relevant and admissible evidence that substantive rights may be established in a court of law. The courts have, over the years painstakingly analysed and interpreted different forms of evidence… Read More »

Juvenile Justice Model Rules 2016

Juvenile Justice Model Rules 2016 Juvenile Justice Model Rules 2016 are notified on 21.09.2016 by Govt of India as follow :- JUVENILE JUSTICE (CARE AND PROTECTION OF CHILDREN) MODEL RULES, 2016 NOTIFICATION NO. GSR 898(E) [F.NO.1-2/2016-CW-II], DATED 21-9-2016 In exercise of the powers conferred by the proviso to sub-section (1) of section 110 of the… Read More »

Rajya Sabha to meet on 16th November 2016

RAJYA SABHA SECRETARIAT NOTIFICATION New Delhi, the 18th October, 2016 No. RS 1/4/2016-L.—The following Order by the President dated the 17th October, 2016, is published for general information :— “In exercise of the powers conferred upon me by clause (1) of article 85 of the Constitution, I hereby summon the Rajya Sabha to meet at… Read More »

Lok Sabha to meet on 16th November 2016

LOK SABHA SECRETARIAT NOTIFICATION New Delhi, the 18th October, 2016 No. 37/1/(X)/2016/T.—The following Order by the President dated the 18th October, 2016, is published for general information :— “In exercise of the powers conferred upon me by clause (1) of article 85 of the Constitution, I hereby summon the Lok Sabha to meet at New… Read More »

Reconstitution of Inter-State Council and Standing Committee of Inter-State Council.

MINISTRY OF HOME AFFAIRS (INTER-STATE COUNCIL SECRETARIAT) NOTIFICATION New Delhi, the 18th October, 2016 Subject : Reconstitution of Inter-State Council G.S.R. 987(E).—In supersession of the Secretariat’s Notification No. 7/1/2014-ISC(Pt.) dated 7th December, 2015, the Prime Minister has approved the following composition of the Inter-State Council in terms of Clause 2 of the Inter-State Council Order,… Read More »

List of Organisation not treated as foreign source under Foreign Contribution (Regulation) Act 2010

THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(ii)] MINISTRY OF HOME AFFAIRS ORDER New Delhi, the 17th October, 2016 S.O. 3210(E).–In exercise of the powers conferred by section 50 of the Foreign Contribution (Regulation) Act, 2010 (42 of 2010), the Central Government hereby notifies that the international organisations specified below shall not be treated… Read More »

GST- Time of Supply -Guide wtih Examples

Time of Supply under GST of India Time of Supply under Model GST Law (MGL)  Section 12 of Model GST Law  deals with Supply of Goods section 13 of Model GST Law  & 14 deals with Supply of Services.   A solds goods to B for Rs.100000/-. Various events of sale transactions are as under:… Read More »

Book- Guide to New ICDS -AY 2017-18

Book on ICDS – Guide to New Income Computation & Disclosure Standards (Assessment Year 2017-18) This Book on ICDS contains Salient features of ICDS (New Version) notified vide Notification No. S.O. 3079(E), dated 29-9-2016 ,ICDS (New) applicable w.e.f. AY 2017-18 .ICDS applicable to assessees following mercantile system of accounting . This Book Gives answers on How… Read More »

Book on New Income Computation & Disclosure Standards AY 2017-18

Law & Practice Relating to New Income Computation & Disclosure Standards (Assessment Year 2017-18) Law & Practice Relating to New Income Computation & Disclosure Standards (Assessment Year 2017-18) Assessment Year 2017-18 Paperback: 396 pages Publisher: Taxmann Publications Pvt. Ltd.; Assessment Year 2017-18 edition (2016) Language: English  

Large taxpayer units to be shut down under GST

After the Planning Commission, yet another UPA government relic is set to fall. Large Taxpayers Units (LTUs) scheme, a dream project of the UPA government, is set to be abolished with the introduction of Goods and Service Tax (GST) regime. CBEC documents on structural changes under GST,  show that the much-hyped single window tax facilitator… Read More »

Category: GST

GST Council discusses four-tier rate structure

Centre, states agree on compensation formula; cess on cards for ultra-luxury items The GST Council on Tuesday discussed a four-tier rate structure suggested by the Centre and agreed on compensation to loss-incurring states for the first five years of the new tax regime. The Opposition might voice differences with the proposal. The council was apprised of… Read More »

Category: GST

Senior Citizens’ Welfare Fund (Amendment) Rules 2016

MINISTRY OF FINANCE (Department of Economic Affairs) NOTIFICATION New Delhi, the 17th October, 2016 G.S.R. 981(E).-In exercise of the powers conferred by section 128 of the Finance Act, 2015 (20 of 2015), the Government herby makes the following rules to amend the Senior Citizens’ Welfare Fund Rules, 2016, namely:- 1. (1) These rules may be… Read More »

Bill for appearance of Special Public Prosecutors of IT deptt Revised

F.No. 279/Misc/M-77/2011-ITJ Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes (ARO Division) New Delhi, the 18th October, 2016 To, All Principal Chief Commissioners of Income Tax. Madam/ Sir, Sub:- Modifications to the Instruction No. 6/2016 for engagement of Special Public Prosecutors (SPPs) to represent the Income Tax Department before Courts… Read More »

ITR and Audit due date extended for J & K State

F.No. 225/195/2016/ITA.II Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes North-Block, ITA.II Division New Delhi Date- 18th October, 2016 Order under Section 119 of the Income-tax Act, 1961 In order to mitigate the difficulties being faced by the taxpayers in the State of Jammu & Kashmir in filing income… Read More »