Daily Archives: January 9, 2017

CBEC 24×7 Helpdesk for migration of Excise/Service Tax assessees to GST

By | January 9, 2017

To ensure implementation of GST by 1st April, 2017, Central Board of Excise & Customs (CBEC) has initiated the process of migration of its existing Central Excise/Service Tax assessees to GST from today. A 24×7 Helpdesk (Through Toll-Free number and Email) started for the purpose.  Central Board of Excise & Customs (CBEC) has initiated the… Read More »

GST #Issue13 why Reverse Charge under Revised GST Law needs Amendment

By | January 9, 2017

Levy & Collection of GST under Reverse Charge Section 8(3) of Revised Model GST Law, 8. Levy and Collection of Central/State Goods and Services Tax 3) The Central or a State Government may, on the recommendation of the Council, by notification, specify categories of supply of goods and/or services the tax on which is payable on… Read More »

Maharashtra – Applicability of Contract Labour Act changed from 20 to 50 Employees

By | January 9, 2017

Applicability of Contract Labour (Regulation and Abolition) Act, 1970 has been changed from 20 Employees to 50 Employees for the state of Maharashtra vide Contract Labour (Regulation and Abolition) (Maharashtra Amendment) Act, 2016. Related Notification is as follows :- In pursuance of clause (3) of article 348 of the Constitution of India, the following translation in English of… Read More »

No additional charges on use of Debit /credit cards at petrol Pumps

By | January 9, 2017

No additional levy on use of cards at petrol stations says Petroleum Minister MoS (I/C) for Petroleum and Natural Gas, Shri Dharmendra Pradhan said neither the customers nor petrol pump dealers will bear additional charges on digital transactions at petrol stations. He said that the Government had issued guidelines in February 2016 stating that the… Read More »

Legal Provisions for Migration of existing taxpayers to GST

By | January 9, 2017

Migration of existing taxpayers to GST in India Section 166 of  Revised Model GST Law  166 . Migration of existing taxpayers to GST  (1) On the appointed day, every person registered under any of the earlier laws and having a valid PAN shall be issued a certificate of registration on a provisional basis in such… Read More »

Lok Sabha Session to begin from 31.01.2017

By | January 9, 2017

LOK SABHA SECRETARIAT NOTIFICATION New Delhi, the 7th January, 2017 No. 37/1/(XI)/2017/T.—The following order by the President dated the 7th January, 2017 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 »

GST #Issue12 : Works contract under Revised Model GST Law needs Amendment

By | January 9, 2017

Works contract under Revised Model GST Law Works Contract definition under Revised Model GST Law Section 2(110) of Revised Model GST Law, (110) “works contract” means a contract wherein transfer of property in goods is involved in the execution of such contract and includes contract for building, construction, fabrication, completion, erection, installation, fitting out, improvement, modification, repair, maintenance,… Read More »

Direct Tax and Indirect tax collection April 2016 to December 2016

By | January 9, 2017

Direct Tax and Indirect tax collection April 2016 to December 2016 Tax collection figures for the period April -December 2016 show a positive trend as Direct Taxes grow by 12.01% and Indirect Taxes grow by 25% over the corresponding period last year i.e. April-December 2015 Direct Tax and Indirect tax collection figures for the period… Read More »

Overseas Indians can Donate to Govt of India for Development in India

By | January 9, 2017

India Development Foundation of Overseas Indians India Development Foundation of Overseas Indians (IDF-OI) is a not-for-profit Trust set-up by the Government of India to facilitate philanthropic contributions by Overseas Indians to social and development projects in India. IDF-OI is chaired by External Affairs Minister, Smt. Sushma Swaraj yesterday Presently, IDF-OI is promoting flagship programmes of… Read More »

GST #Issue11 Manufacturer under Revised GST Law from Repealed Act ?

By | January 9, 2017

Manufacturer under Revised Model GST Law, Definition of Manufacturer under Revised Model GST Law Section 2(63) of the Revised Model GST Law provides that :- (63) “manufacturer” shall have the meaning assigned to it by the Central Excise Act, 1944 (1 of 1944); Revised Model GST Law, :Repeal and saving Further, Section 164 of the Revised Model GST… Read More »

Seventh Schedule of Constitution of India 1950 After 101st Amendment Act 2016

By | January 9, 2017

7 th Schedule of Constitution of India 1950 SEVENTH SCHEDULE (7 th Schedule of Constitution of India After Constitution (One Hundred and First Amendment) Act, 2016.) [Article 246] List I – Union List of  7 th Schedule of Constitution of India Defence of India and every part thereof including preparation for defence and all such… Read More »

GST #Issue10 : Taxation of Electricity under GST Regime ?

By | January 9, 2017

Taxation of Electricity under GST Regime Definition of Goods under Revised Model GST Law Section 2 (49) of Revised Model GST Law, defines goods (49) “ goods’’ means every kind of movable property other than money and securities but includes actionable claim, growing crops, grass and things attached to or forming part of the land which are agreed to… Read More »

GST #Issue9 How Turnover will bring litigations under GST regime

By | January 9, 2017

Aggregate Turnover under GST Definition of Aggregate Turnover under Revised Model GST Law  Section 2(6) define Aggregate Turnover under Revised Model GST Law as follow :- “Aggregate turnover” means the aggregate value of all taxable supplies, exempt supplies, exports of goods and/or services and inter-State supplies of a person having the same PAN, to be computed on all India basis… Read More »

Handbook of GST in India: Concept and Procedures – New Book

By | January 9, 2017

Handbook of GST in India: Concept and Procedures  28 Dec 2016 This book comprehensively discusses provisions contained in the Constitution (101st Amendment) Act, 2016, Model GST law and various Draft Rules and Formats released by the Government so far. The book has been written in a manner which would help professionals in getting a better… Read More »