Daily Archives: December 2, 2016

Action against bank officials carrying out irregular transactions

By | December 2, 2016

Action taken in cases of bank officials involved in carrying out irregular transactions violative of RBI’s instructions post demonetisation of Specific Bank Notes by the Government w.e.f. midnight of 8th November 2016 Pursuant to the decision of the Government to demonetise Specified Bank Notes w.e.f. midnight of 8th November 2016, Banks have done commendable work… Read More »

Steps for Migration of Madhya Pradesh VAT dealers to GSTN portal

By | December 2, 2016

Steps for Migration of Madhya Pradesh VAT dealers to GSTN portal State /India GST Material     GST Enrolment Plan State Wise : Announced by Indian Govt Steps to enrol on GST Common Portal (India) How to reduce File Size of scanned documents during GST enrolment process India How to login to GST Common Portal… Read More »

GST Helpdesk numbers – Madhya Pradesh -MP

By | December 2, 2016

GST Helpdesk Numbers – Madhya Pradesh -MP State /India GST Material       GST Enrolment Plan State Wise : Announced by Indian Govt   Steps to enrol on GST Common Portal (India) How to reduce File Size of scanned documents during GST enrolment process India How to login to GST Common Portal (India)  … Read More »

How to reduce File Size of scanned documents during GST enrolment process

By | December 2, 2016

Tips to reduce File Size of scanned documents during GST enrolment process State /India GST Material       GST Enrolment Plan State Wise : Announced by Indian Govt   Steps to enrol on GST Common Portal (India) India How to login to GST Common Portal (India)   FAQ on GSTN Migration (English)   GST-Video Tutorial… Read More »

Exemption from fitment of speed governor to certain transport vehicles till 31.01.2017

By | December 2, 2016

MINISTRY OF ROAD TRANSPORT AND HIGHWAYS NOTIFICATION New Delhi, the 1st December, 2016 S.O. 3604(E).—In exercise of the powers conferred by clause (a) of sub-section (3) of section 110 of the Motor Vehicles Act, 1988 (59 of 1988), the Central Government hereby exempts the transport vehicles notified by the State Government under sub-rule (2) of… Read More »

Income Exemption u/s 10(46) to Bureau of Indian Standards

By | December 2, 2016

MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 1st December, 2016 S.O. 3607(E).—In exercise of the powers conferred by clause (46) of section 10 of the Income-tax Act, 1961 (43 of 1961) the Central Government hereby notifies for the purposes of the said clause, the Bureau of Indian… Read More »

Constitution Does Not Permits A Delay With GST: FM

By | December 2, 2016

Constitution Does Not Permits A Delay With GST: FM Published on Dec 2, 2016 Speaking at the , FM Arun Jaitley stated that the constitution does not permits a delay with GST. New Delhi: Union finance minister Arun Jaitley on Friday said that there is a constitutional compulsion to implement the Goods and Services Tax… Read More »

Taxation of Deposits of Demonetized 500/- and 1000/- Notes-Book

By | December 2, 2016

Taxation of Deposits of Demonetized 500/- and 1000/- Notes (November 2016 Edition) Paperback – 2016   Also Incorporating Guide to Taxation Laws (Second Amendment) Bill 2016 [As Passed by Lok Sabha] Guide to Taxation and Investment Regime for Pradhan Mantri Garib Kalyan Yojana 2016 [As passed by Lok Sabha] Pradhan Mantri Garib Kalyan Yojana (PMGKY)… Read More »

No TDS on bank guarantee commission made to bank : ITAT

By | December 2, 2016

Issue Disallowance of bank guarantee charges under the provisions of section 40(a)(ia) of the Act for non-deduction of TDS u/s 194H of the Act Held “There is no principal agent relationship between the bank issuing the bank guarantee and the assessee. When bank issues the bank guarantee, on behalf of the assessee, all it does… Read More »

External Commercial Borrowings (ECB) -FAQ’s

By | December 2, 2016

External Commercial Borrowings Source : Reserve Bank of India These FAQs attempt to put in place the common queries that users have on the subject in easy to understand language. However, for conducting a transaction, the Foreign Exchange Management Act, 1999 (FEMA) and the Regulations made or directions issued thereunder may be referred to. The… Read More »

Market Stabilisation Scheme (MSS) – Revision of ceiling for 2016-17

By | December 2, 2016

Market Stabilisation Scheme (MSS) – Revision of ceiling for 2016-17 Date : Dec 02, 2016 Please refer to the Press Release dated June 22, 2016 on fixation of ceiling for MSS for 2016-17. After the withdrawal of the legal tender character of the ₹ 500 and ₹ 1000 denomination notes with effect from November 9,… Read More »

Issuance of 28 days Cash Management Bills under Market Stabilisation Scheme (MSS)

By | December 2, 2016

Date : Dec 02, 2016 The Reserve Bank of India has announced the auction of the 28 days Government of India Cash Management Bills for a notified amount of ₹ 20,000 crore today, December 02, 2016 using “Multiple Price Auction” method. The bids for the auction should be submitted in electronic format on the Reserve… Read More »

upcoming National Seminar on GST -Revised Model GST Law by Expert Faculties

By | December 2, 2016

The Indirect Taxes Committee of ICAI is undertaking various initiatives in order to keep the members abreast and hands on with the Indirect Tax Laws and changes therein. Continuing with its efforts to update the members, the Indirect Taxes Committee is coming up with its next webcast on topic “Panel Discussion on Revised Model GST Law by… Read More »

old Rs. 500 bank notes will not be accepted for petrol, diesel , gas & Air tickets w.e.f 03.12.2016

By | December 2, 2016

Ministry of Finance 01-December, 2016 With effect from the midnight of 2nd December, 2016, old Rs. 500 bank notes will not be accepted at petrol, diesel and gas outlets of Public Sector Oil and Gas Marketing Companies as well as for purchase of Air Tickets at Airports; However, supply of LPG continues to be in… Read More »