Daily Archives: April 11, 2017

ICAI Series of Live Webcast on GST

By | April 11, 2017

ICAI organising Series of Live Webcast on GST -jointly organised with Service Tax Commissionerate, Delhi on the theme- “Chale GST Ki Aur” Dear Professional Colleague, We are pleased to inform you that Indirect Taxes Committee of ICAI is jointly organising series of webcast on GST with the Service Tax Commissionerate, Delhi Zone to support the… Read More »

Category: GST

Tax on NPS

By | April 11, 2017

Tax on NPS The provision that the withdrawal from National Pension Scheme is taxed to the extent of 60 per cent has been introduced into the Income Tax Act, 1961 (‘Act’) vide Finance Act, 2016 by inserting clause (12A) in Section 10 of the Act. Prior to Finance Act, 2016, National Pension Scheme (NPS), referred… Read More »

Committee on Digital Payments

By | April 11, 2017

Committee on Digital Payments Pursuant to the Government initiative to promote digital payments, NITI Aayog vide order dated on 30th November 2016 constituted a Committee of Chief Ministers with Shri Chandra Babu Naidu, Hon’ble Chief Minister of Andhra Pradesh as the Convener for suggesting measures to seamlessly enable all sections of the population to migrate… Read More »

SBI Charges on cash deposit in Banks

By | April 11, 2017

Charges on digital transactions Digital financial transactions are a part of the Government’s strategy to create histories of transactions, including the associated credit, and thereby enable small and micro enterprises to access formal credit, improve tax compliance, and mainstream financial savings into the banking system, which will help mobilise such savings for economic growth. All… Read More »

FATCA- Timelines for Closure of financial accounts under Rule 114H (8) of Income-tax Rules, 1962

By | April 11, 2017

Timelines for Closure of financial accounts under Rule 114H (8) of the Income-tax Rules, 1962 under alternative procedure of FATCA The Inter-Governmental Agreement (IGA) with USA for implementation of FATCA entered into force on 31st August 2015. Under the alternative procedure provided in Rule 114H(8) of the Income-tax Rules, 1962, the financial institutions need to… Read More »

Introduction of GST

By | April 11, 2017

Introduction of GST Tax on sale or purchase of goods within a State as per Entry List II of Seventh Schedule of the Constitution is a State subject, and accordingly, VAT was been introduced by the concerned States, in place of turnover taxes. The introduction of VAT ensured that credit of taxes paid on the… Read More »

Category: GST

Income Tax Act -As Amended by Finance Act 2017- Pocket Edition – Taxmann

By | April 11, 2017

Income Tax Act (Pocket Edition) (2017 Edition-As Amended by Finance Act 2017) Paperback – 2017 by Taxmann (Author) As Amended by Finance Act 2017 Price Rs 795. Click to buy online Paperback: 1344 pages Publisher: Taxmann Publications Pvt. Ltd.; 2017 Edition edition (2017) Related Books on Income Tax Subjects Books Transfer Pricing Information Exchange and Tax… Read More »

Service Tax Manual -25th Edition 2017-As Amended by Finance Act 2017 – Taxmann

By | April 11, 2017

Service Tax Manual (25th Edition 2017-As Amended by Finance Act 2017)Paperback – 2017 by Taxmann (Author) Also Incorporating: Service Tax : Statutory provisions Rules framed under Service Tax Chronological Compendium of Service Tax Circulars Chronological Compendium of duly updated Notifications Cenvat Credit Rules/Circulars/Notifications Price Rs 1295. Click to buy online View Contents of Service Tax Manual -25th… Read More »

Service Tax Ready Reckoner – 29th Edition 2017-V.S Datey- after Finance Act 2017

By | April 11, 2017

Service Tax Ready Reckoner (29th Edition 2017-As Amended by Finance Act 2017) Paperback – 2017 by V.S Datey As Amended by Finance Act 2017 Price Rs 1550. Click to buy online Paperback: 1030 pages Publisher: Taxmann Publications Pvt. Ltd.; 29th Edition edition (2017) View Contents of this Book – Service Tax Ready Reckoner – 29th Edition 2017… Read More »

Service Tax How to Meet your Obligations – 43rd Editon 2017 – Finance Act 2017- SS Gupta

By | April 11, 2017

Service Tax How to Meet your Obligations (Set of 2 Volumes) (43rd Editon 2017-As Amended by Finance Act 2017) SS Gupta VOLUME 1 Basic Concepts Exemptions & Abatements Export & Import of Service Taxability of Specific Services (Advertisement Services – Stock Exchange Services) VOLUME 2 Taxability of Specific Services (Telecom Services – Works Contract) Registration… Read More »

Guide to Presumptive Taxation u/s 44AD 44ADA & 44AE – 2017 Edition Book – Finance Act 2017- CA Srinivasan Anand G.

By | April 11, 2017

Guide to Presumptive Taxation Under Sections 44AD,44ADA & 44AE (2017 Edition-As Amended by Finance Act 2017)  CA Srinivasan Anand G. As Amended by Finance Act 2017 Price Rs 295. Click to buy online Paperback: 176 pages Publisher: Taxmann Publications Pvt. Ltd.; 2017 Edition edition (2017) View Contents of this Book Related Books of Income Tax… Read More »

8 GST Rules 31.03.2017-Download -Print Analysis

By | April 11, 2017

8 GST Rules 31.03.2017 CBEC has recently released following 8 GST namely : – 1. Input Tax Credit Rules 2.Valuation Rules 3.Transition Rules 4.Composition Rules 5.Revised Invoice Rules 6.Revised Payment Rules 7.Registration Rules and 8.Refund Rules for comments by general public and other stakeholders on or before  10-April-2017 by email on gst-cbec@gov.in. The Institute of… Read More »

Draft GST Registration Rules Released on 31.03.2017

By | April 11, 2017

CHAPTER— REGISTRATION Draft GST Registration Rules Released on 31.03.2017 by CBEC 1. Application for registration (1) Every person (other than a non-resident taxable person, a person supplying online information and data base access or retrieval services from a place outside India to a non-taxable online recipient referred to in section 14 of the Integrated Goods… Read More »

Draft GST Payment of Tax Rules – Released on 31.03.2017 by CBEC

By | April 11, 2017

Chapter- –Payment of Tax Rules Draft GST Payment of Tax Rules – Released on 31.03.2017 by CBEC 1. Electronic Tax Liability Register (1) The electronic tax liability register specified under sub-section (7) of section 49 shall be maintained in FORM GST PMT-01 for each person liable to pay tax, interest, penalty, late fee or any… Read More »

Draft GST Tax Invoice Rules , Credit and Debit Notes Rules – 31.03.2017

By | April 11, 2017

Draft GST Tax Invoice Rules Draft GST Tax Invoice Rules , Credit and Debit Notes Rules released by CBEC on  31.03.2017 Chapter – Tax Invoice Rules, Credit and Debit Notes 1. Tax invoice Subject to rule 7, a tax invoice referred to in section 31 shall be issued by the registered person contaning the following particulars:-… Read More »

Draft GST Input Tax Credit Rules – ITC Rules Released on 31.03.2017

By | April 11, 2017

CHAPTER—-Input Tax Credit 1. Documentary requirements and conditions for claiming input tax credit (1) The input tax credit shall be availed by a registered person, including the Input Service Distributor, on the basis of any of the following documents, namely:- (a) an invoice issued by the supplier of goods or services or both in accordance… Read More »

Draft GST Transitional Provisions Rules Released on 31.03.2017

By | April 11, 2017

Draft GST Transition Rules as Released on 31.03.2017 by CBEC CHAPTER – TRANSITIONAL PROVISIONS 1. Application in respect of tax or duty credit carried forward under any existing law or on goods held in stock on the appointed day (1) Every registered person entitled to take credit of input tax under section 140 shall, within… Read More »

Draft GST Determination of Value of Supply Rules Released on 31.03.2017

By | April 11, 2017

 Chapter ___ Determination of Value of Supply 1. Value of supply of goods or services where the consideration is not wholly in money Where the supply of goods or services is for a consideration not wholly in money, the value of the supply shall, (a) be the open market value of such supply; (b) if… Read More »

Mental Healthcare Act 2017 – Notified- Download- Print

By | April 11, 2017

MINISTRY OF LAW AND JUSTICE (Legislative Department) New Delhi, the 7th April, 2017/Chaitra 17, 1939 (Saka) The following Act of Parliament received the assent of the President on the 7th April, 2017, and is hereby published for general information:— THE MENTAL HEALTHCARE ACT, 2017 NO. 10 OF 2017 [7th April, 2017.] An Act to provide… Read More »

IGST Bill 2017 Chapter Wise and Section Wise

By | April 11, 2017

THE INTEGRATED GOODS AND SERVICES TAX BILL, 2017 —————— ARRANGEMENT OF CLAUSES —————— CLAUSES CHAPTER I PRELIMINARY 1. Short title, extent and commencement. 2. Definitions. CHAPTER II ADMINISTRATION 3. Appointment of officers. 4. Authorisation of officers of State tax or Union territory tax as proper officer in certain circumstances. CHAPTER III LEVY AND COLLECTION OF… Read More »

Setting up of IFSC Banking Units (IBUs) – Permissible activities

By | April 11, 2017

RBI/2016-17/273 DBR.IBD.BC.59/23.13.004/2016-17 April 10, 2017 All Scheduled Commercial Banks (excluding Regional Rural Banks) Dear Sir/Madam, Setting up of IFSC Banking Units (IBUs) – Permissible activities Please refer to RBI circular DBR.IBD.BC.14570/23.13.004/2014-15 dated April 01, 2015, as modified from time to time, setting out RBI directions relating to IFSC Banking Units (IBUs). We have received a… Read More »

Category: RBI

Govt makes compliance of Labour Laws and Rules easy

By | April 11, 2017

Government makes compliance of Labour Laws and Rules easy Government reduces number of forms and Reports from 36 to 12 to lessen costs and compliance burden of various establishments The Government has undertaken an exercise to promote ease of compliance of LabourLaws and Rules byvarious establishments. The “Rationalisation of Forms and Reports under Certain Labour… Read More »

USA IRS Alerts Taxpayers with Limited English Proficiency of Ongoing Phone Scams

By | April 11, 2017

IRS Alerts Taxpayers with Limited English Proficiency of Ongoing Phone Scams; Urges Caution Before Paying Unexpected Tax Bills IRS YouTube Videos: Tax Scams: English | Spanish | ASL WASHINGTON — The Internal Revenue Service today warned taxpayers with limited English proficiency of phone scams and email phishing schemes that continue to occur across the country.… Read More »