Daily Archives: April 17, 2017

Chaturvedi and Pithisaria’s Income Tax Act after Finance Act 2017

By | April 17, 2017

Chaturvedi and Pithisaria’s Income Tax Act (with Relevant Texts of Allied Acts) Paperback – 1 Apr 2017 by Chaturvedi & Pithisaria (Author) Salient Features: Provides comprehensive Legislative History since 1961 upto the Finance Act, 2017 Incorporates updated section wise Quick Reference Guide for Important case law, circulars, notifications and press releases All terms and expressions as… Read More »

Capital Gains Tax – Law and Practice – after Finance Act 2017- T G Suresh -3rd Edition 2017

By | April 17, 2017

Capital Gains Tax – Law and Practice (As amended by the Finance Act, 2017) T G Suresh (Author) Capital Gains Tax — Law and Practice comprehensively covers legal and practical aspects governing taxation of short term and long term capital gains as provided under Chapter IV(E) of the Income-tax Act, 1961. The third edition has been… Read More »

Illustrated Guide to Goods and Services Tax – GST – CA. Rajat Mohan -6th Edition 2017

By | April 17, 2017

Illustrated Guide to Goods and Services Tax – CA. Rajat Mohan – Bharat Publication Contents of this Book Volume 1 Chapter 1 Introduction Chapter 2 Extent & Definitions Chapter 3 Meaning & Scope of Supply Chapter 4 Administration Chapter 5 Levy and Exemption Chapter 6 Time of Supply Chapter 7 Value of Supply Chapter 8… Read More »

MCA amends rules for striking off names of companies from Register

By | April 17, 2017

COMPANIES (REMOVAL OF NAMES OF COMPANIES FROM THE REGISTER OF COMPANIES) AMENDMENT RULES, 2017 – AMENDMENT IN RULE 7 AND INSERTION OF FORM NO.STK-5 NOTIFICATION [F.NO.1/28/2013-CL-V], DATED 12-4-2017 In exercise of the powers conferred by sub-stations (1), (2) and (4) of section 248 read with section 469 of the Companies Act, 2013 (18 of 2013),… Read More »

MCA amends M&A rules for foreign company

By | April 17, 2017

COMPANIES (COMPROMISES, ARRANGEMENTS AND AMALGAMATIONS) AMENDMENT RULES, 2017 – INSERTION OF RULE 25A AND ANNEXURE B NOTIFICATION [F.NO.1/37/2013 CL.V], DATED 13-4-2017 In exercise of the powers conferred by section 234, read with section 469 of the Companies Act, 2013, the Central Government, in consultation with the Reserve Bank of India, hereby makes the following rules… Read More »

Aadhaar Mandatory for availing MCA21 services

By | April 17, 2017

MISCELLANEOUS – MCA TO INTEGRATE AADHAAR FOR AVAILING MCA21 RELATED SERVICES PRESS RELEASE, DATED 13-4-2017 MCA is actively considering Aadhaar Integration for availing various MCA21 related services. As a preparatory step, all individual stakeholders viz. DIN holders/Directors/Key Managerial Personnel/Professionals of the Institute of Company Secretaries of India-Institute of Chartered Accountants of India-Institute of Cost Accountants… Read More »

M&A provisions for foreign company would be effective from April 13, 2017: MCA

By | April 17, 2017

SECTION 1 OF THE COMPANIES ACT, 2013 – ACT – ENFORCEMENT OF – NOTIFIED DATE ON WHICH PROVISIONS OF SECTION 234 OF SAID ACT SHALL COME INTO FORCE NOTIFICATION [F.NO.1/37/2013 CL.V], DATED 13-4-2017 In exercise of the powers conferred by sub-section (3) of section 1 of the Companies Act, 2013 (18 of 2013), the Central… Read More »

Notice sent by registered post is deemed to be served if it was returned back with postal endorsement

By | April 17, 2017

This Court in catena of cases has held that when a notice is sent by registered post and is returned with postal endorsement “refused” or “not available in the house” or “house locked” or “shop closed” or “addressee not in station”, due service has to be presumed Jagdish Singh v. Natthu Singh [1992] 1 SCC… Read More »

Taxation of Real Estate Developers & Joint Development Arrangements with Accounting – Finance Act 2017 – Taxmann

By | April 17, 2017

Taxation of Real Estate Developers & Joint Development Arrangements with Accounting Aspects (2017 Edition-As Amended by Finance 2017) by De. Raj K. Agarwal & Dr. Rakesh. Gupta -As Amended by Finance 2017 Price Rs 875 . Click to buy Online   Paperback: 472 pages Publisher: Taxmann Publications Pvt. Ltd.; 2017 Edition edition (2017) Edition : 3rd… Read More »

Revised Prompt Corrective Action (PCA) framework for banks

By | April 17, 2017

RBI/2016-17/276 DBS.CO.PPD. BC.No.8/11.01.005/2016-17 April 13, 2017 All Scheduled Commercial Banks (Excluding Regional Rural Banks) Madam/ Dear Sir Revised Prompt Corrective Action (PCA) framework for banks Please refer to RBI circulars No. DBS.CO.PP.BC.9/11.01.005/2002-03 dated December 21, 2002 and DBS.CO.PP.BC.13/11.01.005/2003-04 dated June 15, 2004 on the scheme of Prompt Corrective Action. 2. The existing PCA framework for… Read More »

Forms in GST assessment and audit

By | April 17, 2017

Forms in GST assessment and audit The draft GST rule of Assessement and Audit under GST has notified by CBEC recently, the details of various forms in assessment and audits are hereunder: Sl.No Particulars Name of the Form Who has to execute 1 Provisional Assessment U/s 60(1) FORM GST ASMT-01 Registered dealer (RD) electronically. 2  Notice of… Read More »

GST Migration Guide

By | April 17, 2017

GST Migration Guide Goods and Service Tax (GST) as contemplated as One Nation- One Tax will integrate all these separate statutes into uniform statutes. It will create a single unified market across the country for supply of goods or services. Persons liable for GST registration: As per Section 22 of CGST Act, 2017, a person… Read More »

Category: GST

Section 67 CGST Act 2017 – Power of inspection, search and seizure.

By | April 17, 2017

Section 67 CGST Act 2017 [ Section 67 CGST Act 2017 Notified w.e.f 01.07.2017 vide Notification No. 9/2017 – Central Tax Dated 28th June, 2017 ] Section 67 CGST Act 2017 explains Power of inspection, search and seizure and is covered in Chapter XIV – Inspection , Search , Seizure and Arrest [Note : CGST Act 2017… Read More »

Section 65 CGST Act 2017 – Audit by tax authorities.

By | April 17, 2017

Section 65 CGST Act 2017 [ Section 65 CGST Act 2017 Notified w.e.f 01.07.2017 vide Notification No. 9/2017 – Central Tax Dated 28th June, 2017 ] Section 65 CGST Act 2017 explains Audit by tax authorities and is covered in Chapter XIII – Audit [Note : CGST Act 2017 also known as CENTRAL GOODS AND SERVICES TAX ACT, 2017 assented… Read More »

Section 64 CGST Act 2017 – Summary assessment in certain special cases.

By | April 17, 2017

Section 64 CGST Act 2017 [ Section 64 CGST Act 2017 Notified w.e.f 01.07.2017 vide Notification No. 9/2017 – Central Tax Dated 28th June, 2017 ] Section 64 CGST Act 2017 Summary assessment in certain special cases and is covered in Chapter XII – Assessments  [Note : CGST Act 2017 also known as CENTRAL GOODS AND SERVICES TAX ACT,… Read More »

Section 63 CGST Act 2017 – Assessment of unregistered persons

By | April 17, 2017

Section 63 CGST Act 2017 [ Section 63 CGST Act 2017 Notified w.e.f 01.07.2017 vide Notification No. 9/2017 – Central Tax Dated 28th June, 2017 ] Section 63 CGST Act 2017 explains Assessment of unregistered persons and is covered in Chapter XII – Assessments  [Note : CGST Act 2017 also known as CENTRAL GOODS AND SERVICES TAX ACT, 2017 assented… Read More »

Section 62 CGST Act 2017 – Assessment of non-filers of returns.

By | April 17, 2017

Section 62 CGST Act 2017 [ Section 62 CGST Act 2017 Notified w.e.f 01.07.2017 vide Notification No. 9/2017 – Central Tax Dated 28th June, 2017 ] Section 62 CGST Act 2017 explains Assessment of non-filers of returns and is covered in Chapter XII – Assessments  [Note : CGST Act 2017 also known as CENTRAL GOODS AND SERVICES TAX ACT,… Read More »

Section 61 CGST Act 2017 – Scrutiny of returns.

By | April 17, 2017

Section 61 CGST Act 2017 [ Section 61 CGST Act 2017 Notified w.e.f 01.07.2017 vide Notification No. 9/2017 – Central Tax Dated 28th June, 2017 ] Section 61 CGST Act 2017 explains Scrutiny of returns and is covered in Chapter XII – Assessments  [Note : CGST Act 2017 also known as CENTRAL GOODS AND SERVICES TAX ACT, 2017 assented by… Read More »

Section 60 CGST Act 2017 – Provisional assessment.

By | April 17, 2017

Section 60 CGST Act 2017 [ Section 60 CGST Act 2017 Notified w.e.f 01.07.2017 vide Notification No. 9/2017 – Central Tax Dated 28th June, 2017 ] Section 60 CGST Act 2017 explains Provisional assessment and is covered in Chapter XII – Assessments  [Note : CGST Act 2017 also known as CENTRAL GOODS AND SERVICES TAX ACT, 2017 assented by the… Read More »

Section 59 CGST Act 2017 Self-assessment.

By | April 17, 2017

Section 59 CGST Act 2017 [ Section 59 CGST Act 2017 Notified w.e.f 01.07.2017 vide Notification No. 9/2017 – Central Tax Dated 28th June, 2017 ] Section 59 CGST Act 2017 explains Self-assessment and is covered in Chapter XII – Assessments  [Note : CGST Act 2017 also known as CENTRAL GOODS AND SERVICES TAX ACT, 2017 assented by the President… Read More »

Section 57 CGST Act 2017 – Consumer Welfare Fund

By | April 17, 2017

Section 57 CGST Act 2017 [ Section 57 CGST Act 2017 Notified w.e.f 01.07.2017 vide Notification No. 9/2017 – Central Tax Dated 28th June, 2017 ] Section 57 CGST Act 2017 explains Consumer Welfare Fund and is covered in Chapter XI – Refunds  [Note : CGST Act 2017 also known as CENTRAL GOODS AND SERVICES TAX ACT, 2017 assented by… Read More »

Section 56 CGST Act 2017 – Interest on delayed refunds.

By | April 17, 2017

Section 56 CGST Act 2017 [ Section 56 CGST Act 2017 Notified w.e.f 01.07.2017 vide Notification No. 9/2017 – Central Tax Dated 28th June, 2017 ] Section 56 CGST Act 2017 explains Interest on delayed refunds  and is covered in Chapter XI – Refunds  [Note : CGST Act 2017 also known as CENTRAL GOODS AND SERVICES TAX ACT, 2017 assented… Read More »

Section 53 CGST Act 2017 – Transfer of input tax credit.

By | April 17, 2017

Section 53 CGST Act 2017 [ Section 53 CGST Act 2017 Notified w.e.f 01.07.2017 vide Notification No. 9/2017 – Central Tax Dated 28th June, 2017 ] Section 53 CGST Act 2017 explains Transfer of input tax credit  and is covered in Chapter X – Payment of Tax [Note : CGST Act 2017 also known as CENTRAL GOODS AND SERVICES TAX ACT,… Read More »

Section 50 CGST Act 2017 – Interest on delayed payment of tax.

By | April 17, 2017

Section 50 CGST Act 2017 [ Section 50 CGST Act 2017 Notified w.e.f 01.07.2017 vide Notification No. 9/2017 – Central Tax Dated 28th June, 2017 ] Section 50 CGST Act 2017 Interest on delayed payment of tax  and is covered in Chapter X – Payment of Tax [Note : CGST Act 2017 also known as CENTRAL GOODS AND SERVICES TAX ACT,… Read More »

Section 49 CGST Act 2017 – Payment of tax, interest, penalty and other amounts.

By | April 17, 2017

Section 49 CGST Act 2017 [ Section 49 CGST Act 2017 Notified w.e.f 01.07.2017 vide Notification No. 9/2017 – Central Tax Dated 28th June, 2017 ] Section 49 CGST Act 2017 explains Payment of tax, interest, penalty and other amounts and is covered in Chapter X – Payment of Tax [Note : CGST Act 2017 also known as CENTRAL GOODS AND… Read More »

Section 48 CGST Act 2017 – Goods and services tax practitioners.

By | April 17, 2017

Section 48 CGST Act 2017 [ Section 48 CGST Act 2017 Notified w.e.f 01.07.2017 vide Notification No. 9/2017 – Central Tax Dated 28th June, 2017 ] Section 48 CGST Act 2017 explains Goods and services tax practitioners and is covered in Chapter IX – Returns [Note : CGST Act 2017 also known as CENTRAL GOODS AND SERVICES TAX ACT, 2017 assented by… Read More »

Section 46 CGST Act 2017 – Notice to return defaulters.

By | April 17, 2017

Section 46 CGST Act 2017 [ Section 46 CGST Act 2017 Notified w.e.f 01.07.2017 vide Notification No. 9/2017 – Central Tax Dated 28th June, 2017 ] Section 46 CGST Act 2017 explains Notice to return defaulters and is covered in Chapter IX – Returns [Note : CGST Act 2017 also known as CENTRAL GOODS AND SERVICES TAX ACT, 2017 assented by the… Read More »

Section 45 CGST Act 2017 – Final return.

By | April 17, 2017

Section 45 CGST Act 2017 [ Section 45 CGST Act 2017 Notified w.e.f 01.07.2017 vide Notification No. 9/2017 – Central Tax Dated 28th June, 2017 ] Section 45 CGST Act 2017 explains Final return and is covered in Chapter IX – Returns [Note : CGST Act 2017 also known as CENTRAL GOODS AND SERVICES TAX ACT, 2017 assented by the President of… Read More »

Section 44 CGST Act 2017 – Annual return

By | April 17, 2017

Section 44 CGST Act 2017 [ Section 44 CGST Act 2017 Notified w.e.f 01.07.2017 vide Notification No. 9/2017 – Central Tax Dated 28th June, 2017 ] Section 44 CGST Act 2017 explains Annual return and is covered in Chapter IX – Returns [Note : CGST Act 2017 also known as CENTRAL GOODS AND SERVICES TAX ACT, 2017 assented by the President… Read More »

Section 43 CGST Act 2017 – Matching, reversal and reclaim of reduction in output tax liability.

By | April 17, 2017

Section 43 CGST Act 2017 [ Section 43 CGST Act 2017 (except the proviso to sub-section (9) of section 43 ) Notified w.e.f 01.07.2017 vide Notification No. 9/2017 – Central Tax Dated 28th June, 2017 ] Section 43 CGST Act 2017 explains Matching, reversal and reclaim of reduction in output tax liability and is covered in Chapter IX – Returns [Note… Read More »

Section 42 CGST Act 2017 – Matching, reversal and reclaim of input tax credit.

By | April 17, 2017

Section 42 CGST Act 2017 [ Section 42 CGST Act 2017 ( except the proviso to sub-section (9) of section 42) Notified w.e.f 01.07.2017 vide Notification No. 9/2017 – Central Tax Dated 28th June, 2017 ] Section 42 CGST Act 2017 deals with Matching, reversal and reclaim of input tax credit. and is covered in Chapter IX – Returns [Note :… Read More »