Daily Archives: May 25, 2017

Example on Rule 5 of GST Input Tax Credit Rule – ITC on Capital Goods

By | May 25, 2017

Rule 5 of GST Input Tax Credit Rule Calculation of Input Tax Credit on Capital Goods Where the Registered persons ceases to pay tax under Composition Scheme under section 10 of CGST Act 2017 , then he can avail Input Tax credit in respect of followings , Inputs Semi Finished goods Finished Goods Capital Goods on… Read More »

Coverage of Beedi establishments and workers under EPF & MP Act 1952.

By | May 25, 2017

EMPLOYEES PROVIDENT FUND ORGANIZATION (Ministry of Labor & Employment, Govt. of India) Head Office Bhavishya Nidhi Bhawan, 14, Bhikaji Cama Palace, New Delhi- 110066. No. C-I/3(6)2017/Special drive Beedi Workers/4098                                                                                    Date: 24 MAY 2017 To All Additional Central P.F. Commissioner (Zones) All Regional P.F. Commissioner-I & II-In-charge of ROs. Sub: Coverage of Beedi establishments and workers.… Read More »

Authority under Prohibition of Benami Property Transactions Act 1988 Notified

By | May 25, 2017

MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) Notification No. 40/2017 New Delhi, the 18th May, 2017 (Income-tax) Authority under the Prohibition of Benami Property Transactions Act, 1988 S.O. 1621(E). – In exercise of the powers conferred under sub-section (2) of section 28 read with section 59 of the Prohibition of Benami Property… Read More »

Startup Entity redefined by Govt – Notification

By | May 25, 2017

 Startup By following Notification Govt has issued new definition of Start up . For Older Definition of Start up read Notification Dated 17.02.2016 MINISTRY OF COMMERCE AND INDUSTRY (Department of Industrial Policy and Promotion) NOTIFICATION New Delhi, the 23rd May, 2017 G.S.R. 501 (E).—This notification is being issued in supersession of Gazette Notification No G.S.R.… Read More »

400 benami transaction identified by Income tax Department

By | May 25, 2017

Income Tax Department Steps-up actions under Benami Transactions (Prohibition) Amendment Act, 2016   The Income-tax Department (ITD) has initiated actions under the new Benami Transactions (Prohibition) Amendment Act, 2016 (the Act) w.e.f. 1st November, 2016. The Prohibition of Benami Property Transactions Rules, 2016 have been framed in this regard. As per the Act, Benami property… Read More »