Daily Archives: April 17, 2018

TDS on hired vehicles u/s 194I and not under 194C : High Court

By | April 17, 2018

HIGH COURT OF KERALA Commissioner of Income-tax-1, Cochin v. Pioneer Peresonalised Holidays (P.) Ltd K. VINOD CHANDRAN AND ASHOK MENON, JJ. IT APPEAL NOS. 138 & 176 OF 2013 FEBRUARY  26, 2018 P.K.R. Menon, Sr. Counsel and Jose Joseph, Adv. for the Appellant. Joseph Markose, V. Abraham Markos, Sr. Adv., Binu Mathew, Tom Thomas (Kakkuzhiyil), Abraham Joseph Markos and Abraham Varghese Tharakan, Advs. for the Respondent. JUDGMENT… Read More »

There is no Shortage of Cash with RBI : Govt

By | April 17, 2018

Ministry of Finance Government reviews the currency circulation in the country Government and RBI have taken all steps to meet unusual demand of the currency Adequate reserves of currency to meet the rising demands Non Functional ATMS to be normalized soon Posted On: 17 APR 2018 1:41PM by PIB Delhi There are reports of cash… Read More »

Accounting Policy Changes (Proposed amendments to IAS 8)

By | April 17, 2018

Accounting Policy Changes (Proposed amendments to IAS 8) Introduction In this Exposure Draft, the International Accounting Standards Board (Board) proposes to amend IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors. The Board expects these amendments to facilitate the application of particular voluntary changes in accounting policy, improving the overall quality of financial reporting. Invitation… Read More »

Uttarakhand Intra State Eway Bill from 20.04.2018 : Notification

By | April 17, 2018

Uttarakhand Intra State Eway Bill from 20.04.2018 : Notification SECTION 68 OF THE UTTARAKHAND GOODS AND SERVICES TAX ACT, 2017, READ WITH RULE 138 OF THE UTTARAKHAND GOODS AND SERVICES TAX RULES, 2017 – GOODS IN MOVEMENT – INSPECTION OF – NO REQUIREMENT OF E-WAY BILL FOR INTRA-STATE MOVEMENT OF GOODS IN STATE OF UTTARAKHAND TILL… Read More »

Tripura Intra State Eway Bill from 20.04.2018 : Notification

By | April 17, 2018

Tripura Intra State Eway Bill from 20.04.2018 : Notification SECTION 68 OF THE TRIPURA GOODS & SERVICES TAX ACT, 2017, READ WITH RULE 138 OF THE TRIPURA STATE GOODS & SERVICES TAX RULES, 2017- GOODS IN MOVEMENT – INSPECTION OF – RESCISSION OF NOTIFICATION NO.F.11(91)-TAX/GST/2018 (PART-I), DATED 28-3-2018 NOTIFICATION NO.F.1-11(91)-TAX/GST/2018 (PART-I), DATED 17-4-2018 In exercise of the… Read More »

Transfer Pricing Documentation & Reporting Book 2018

By | April 17, 2018

Transfer Pricing Documentation & Reporting  Transfer Pricing Documentation & Reporting is written by by CA Rajat Chawla & CA Richa Chawla (Author) Finance Act 2016 had aligned Indian TP regulations with the OECD’s BEPS project by introducing Master file and CBCR compliances. Finance Act, 2018 has further rationalized Master file CBCR provisions. Lately, there has been a greater… Read More »

Tripura Intra State E way Bill from 20.04.2018 from GST Eway bill portal

By | April 17, 2018

Tripura Intra State E way Bill GST Intra-stateE-Waybill will be required from 20.04.2018 for any intra –state movement of taxable goods having value more than Rs 50,000/- and where the place of delivery is beyond 50 kmsfrom place of supply. Intra-stateE-Waybill is required to be generated from the e-way bill portal i.e www.ewaybillgst.gov.in . You… Read More »

Electoral Bonds : Govt clarifies in-built security features

By | April 17, 2018

Ministry of Finance Government clarifies the in-built security features of the Electoral Bonds Random Serial Number, invisible to the naked eye, present on the Bond not linked to any party transaction or cannot be used for tracking the transactions SBI does not share the serial number with anybody, including the Government and users Posted On:… Read More »

Composition Dealer not required to fill Sr. No 4A of Table 4 of GSTR-4

By | April 17, 2018

Ministry of Finance Clarification on the manner of filing the Quarterly Return by Composition Dealers in FORM GSTR-4 Posted On: 17 APR 2018 3:07PM by PIB Delhi Doubts are being raised about the manner of filing the quarterly return by composition dealers in FORM GSTR-4. In particular, there is a doubt with respect to the instruction… Read More »

Jharkhand intra state eway bill from 20.04.2018 : Notification

By | April 17, 2018

Jharkhand intra state eway bill from 20.04.2018 SECTION 68 OF THE JHARKHAND GOODS AND SERVICES TAX ACT, 2017, READ WITH RULE 138 OF THE JHARKHAND GOODS AND SERVICES TAX RULES, 2017 – GOODS IN MOVEMENT – INSPECTION OF – RESCISSION OF NOTIFICATION NO. SO 33-STATE TAX, DATED 31-3-2018 NOTIFICATION S.O. NO.35, DATED 17-4-2018 In exercise of… Read More »

CIT (Appeals) jurisdictions assigned under Black Money Act 2015 by CBDT

By | April 17, 2018

MOST URGENT F. No. 279/Misc./M-44/2018-(ITJ) Government of India Ministry of Finance Department of Revenue Central Board Direct Taxes Audit & Judicial Division New Delhi, Dated: 16th April, 2018 To All Principal Chief Commissioners of Income-tax Madam/ Sir, Subject: Notification in respect of assigning jurisdiction to Commissioner (Appeals) under the Black Money (Undisclosed Foreign Income and Assets)… Read More »

GST applicable on Overseas Education Advisory to students in India : AAR

By | April 17, 2018

In re Global Reach Education Services Pvt Ltd (Advance Rulings)  Case Number 05 of 2018 Date of Judgement/Order : 21/04/2018 In re Global Reach Education Services Pvt Ltd (Advance Rulings) 1. The Applicant states that it provides Overseas Education Advisory whereby it promotes the courses of foreign universities among prospective students and wants a ruling… Read More »

Apply TDS u/s 194J on provision for Audit Fees :ITAT Chennai

By | April 17, 2018

On perusal of section 194J of the Act, we find that tax is deductible at source either at the time of credit of expenditure to the account of the payee or at the time of payment whichever is earlier. In the instant case, the assessee had made provision for audit fees to the account of… Read More »