Daily Archives: January 11, 2018

Benami Properties of more than Rs. 3,500 crore attached by income Tax Department

By | January 11, 2018

Ministry of Finance Income Tax Department steps-up actions under Prohibition of Benami Property Transactions Act : Benami properties of more than Rs. 3,500 crore in more than 900 cases attached Posted On: 11 JAN 2018 12:54PM by PIB Delhi Due to intensive efforts undertaken by the Income Tax Department, provisional attachment has been made in… Read More »

FAQ’s and MCQ’s on GST Released by ICAI Indirect Tax Committee (January 2018)

By | January 11, 2018

FAQ’s and MCQ’s on GST (January, 2018) GST, a single biggest tax reform in the history of India is a destination based tax pervasively impacting ever sphere of business like supply chain, IT system, accounting, cash flow, credits, product pricing, compliances, legal contact etc. Hassle free implementation of GST calls for endeavors from both the… Read More »

USA IRS : Steps to help people protect their data from thieves

By | January 11, 2018

Steps to help people protect their data from thieves Taxpayers can follow a few simple to protect your personal and financial data online and at home steps. Criminals continue to steal large amounts of personal data of taxpayers and tax preparers. Thieves use this information to file fraudulent tax returns or commit other crimes to impersonate victims. All taxpayers… Read More »

Schedule I of Mizoram GST Act 2017 : Activities to be treated as supply even if made without consideration

By | January 11, 2018

Schedule I of Mizoram GST Act 2017 ( Schedule I of  Mizoram GST Act 2017 explains Activities to be treated as supply even if made without consideration ) SCHEDULE I [See section 7] ACTIVITIES TO BE TREATED AS SUPPLY EVEN IF MADE WITHOUT CONSIDERATION 1. Permanent transfer or disposal of business assets where input tax credit has been… Read More »

Schedule III of Mizoram GST Act 2017 : Activities or transactions which shall be treated neither as a supply of goods nor a supply of services

By | January 11, 2018

Schedule III of Mizoram GST Act 2017 ( Schedule III of Mizoram GST Act 2017 explains Activities or transactions which shall be treated neither as a supply of goods nor a supply of services ) SCHEDULE III [See section 7] ACTIVITIES OR TRANSACTIONS WHICH SHALL BE TREATED NEITHER AS A SUPPLY OF GOODS NOR A SUPPLY OF SERVICES 1.… Read More »

Schedule II of Mizoram GST Act 2017 : Activities to be treated as supply of goods or supply of services

By | January 11, 2018

Schedule II of Mizoram GST Act 2017 ( Schedule II of  Mizoram GST Act 2017 explains Activities to be treated as supply of goods or supply of services ) SCHEDULE II [See section 7] ACTIVITIES TO BE TREATED AS SUPPLY OF GOODS OR SUPPLY OF SERVICES 1. Transfer (a) any transfer of the title in goods is a supply… Read More »

Section 174 of Mizoram GST Act 2017 : Repeal and saving

By | January 11, 2018

Section 174 of Mizoram GST Act 2017 ( Section 174 of  Mizoram GST Act 2017 explains Repeal and saving and is covered in Chapter XXI : MISCELLANEOUS Repeal and saving 174. (1) Save as otherwise provided in this Act, on and from the date of commencement of this Act, (i) The Mizoram (Sales of Petroleum and Petroleum Products, including Motor Spirit… Read More »

Section 173 of Mizoram GST Act 2017 : Amendment of certain Acts

By | January 11, 2018

Section 173 of Mizoram GST Act 2017 ( Section 173 of  Mizoram GST Act 2017 explains Amendment of certain Acts and is covered in Chapter XXI : MISCELLANEOUS Amendment of certain Acts 173. Save as otherwise provided in this Act, on and front the date of commencement of this Act,- Omissions, substitutions and insertions in the Acts to be… Read More »

Section 172 of Mizoram GST Act 2017 : Removal of difficulties

By | January 11, 2018

Section 172 of Mizoram GST Act 2017 ( Section 172 of  Mizoram GST Act 2017 explains Removal of difficulties and is covered in Chapter XXI : MISCELLANEOUS Removal of difficulties 172. (1) If any difficulty arises in giving effect to any provisions of this Act, the Government may, on the recommendations of the Council, by a general or a… Read More »

Section 171 of Mizoram GST Act 2017 : Anti-profiteering Measure

By | January 11, 2018

Section 171 of Mizoram GST Act 2017 ( Section 171 of  Mizoram GST Act 2017 explains Anti-profiteering Measure and is covered in Chapter XXI : MISCELLANEOUS Anti-profiteering Measure 171. (1) Any reduction in rate of tax on any supply of goods or services or the benefit of input tax credit shall be passed on to the recipient by way… Read More »