Daily Archives: July 5, 2018

IBBI amendds IBBI(Insolvency Resolution Process for Corporate Persons) Regulations, 2016

By | July 5, 2018

Ministry of Corporate Affairs IBBI amends the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 Posted On: 04 JUL 2018 5:28PM by PIB Delhi The Insolvency and Bankruptcy Board of India (IBBI) has notified the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Third Amendment)… Read More »

Exchange Rate of Foreign Currency w.e.f 06.07.18 for Imported and Export Goods

By | July 5, 2018

Ministry of Finance Exchange Rate of Foreign Currency Relating To Imported and Export Goods Notified Posted On: 05 JUL 2018 5:25PM by PIB Delhi In exercise of the powers conferred by section 14 of the Customs Act, 1962 (52 of 1962), and in supersession of the notification of the Central Board of Indirect Taxes and Customs… Read More »

JioPhone 2 Launched

By | July 5, 2018

JioPhone 2 Launched JioPhone 2 When JioPhone 2 is lauched  ? Mukesh Ambani’s son and daughter Akash and Isha Ambani,, launched JioPhone 2 on 05.07.2018 with advanced features. JioPhone is a feature phone that was launched by Reliance Jio last year with an effective price of ‘zero’ The announcements were made at the 41st annual general… Read More »

Jio GigaFiber by Reliance launched

By | July 5, 2018

Jio GigaFiber Jio GigaFiber what is Jio GigaFiber  Reliance Industries  unveiled ‘Jio GigaFiber’, the much-awaited fibre-to-the-home (FTTH) broadband service.  The company claimed it will be the largest greenfield fixed-line broadband rollout anywhere in the world, with a rollout in 1,100 cities simultaneously. Jio GigaFiber broadband will come with a set top box for TV and… Read More »

GST Appeal due to delay couldn’t be dismissed if No Appellate Authority constituted: HC

By | July 5, 2018

HIGH COURT OF PUNJAB AND HARYANA R.S. Steel Traders v. State of Haryana RAJESH BINDAL AND DEEPAK SIBAL, JJ. CWP NO. 27168 OF 2017 MAY  14, 2018 Sandeep Goyal, Adv. for the Petitioner. Ms. Tanish Peshawaria, DAG. for the Respondent. ORDER   Rajesh Bindal, J. – The present writ has been filed impugning order dated 25-10-2017 passed by the Excise and… Read More »

No Advance ruling can be given if issue pending before GST Council: TELANGANA AAR

By | July 5, 2018

AUTHORITY FOR ADVANCE RULINGS, TELANGANA Madhucon Sugar & Power Industries Ltd. Inre. V. SRINIVAS, JOINT COMMISSIONER (CENTRAL TAX) AND J. LAXMINARAYANA, ADDL. COMMISSIONER (STATE TAX) TSAAR ORDER NO. 6/2018 JULY  2, 2018 RULING 1. M/s. Madhucon Sugar and Power Industries Ltd, Ammagudem post, Rajeswarapuramvillage, Nelakondapally Mandal, Khammam District has filed an application in Form GST ARA-01under Section… Read More »

Pay GST on non tariff charges recovered from consumer by electricity distribution company :RAJASTHAN AAR

By | July 5, 2018

AUTHORITY FOR ADVANCE RULINGS, RAJASTHAN TP Ajmer Distribution Ltd., In re NITIN WAPA AND SUDHIR SHARMA, MEMBER ADVANCE RULING NO. RAJ/AAR/2018-19/02 MAY  11, 2018 Varun Sharma, FCA for the Applicant. RULING (A) SUBMISSION OF APPLICANT 1. M/s TP Ajmer Distribution Limited (‘TPADL’ or ‘Applicant’ or ‘the Company*); having Goods and Services Tax (“GST’) Registration No. 08AAGCT2158P1ZR and is engaged in… Read More »

ITC is available even if supplies made under concessional rate of 5% GST: AAR

By | July 5, 2018

Goods and services on which concessional rate of tax is applicable are not figured in the list under Section 17 (5) of the Central Goods & Services Tax Act, 2017 . Hence, the ITC is allowed on the supplies effected by paying duty at concessional rate of tax. Moreover, the supplies effected at concessional rate of… Read More »

SBI NEFT Form : Download / Print

By | July 5, 2018

SBI NEFT Form  Download State Bank of India –  SBI Bank NEFT Application Form in PDF Format. SBI neft Forms , Download SBI Bank NEFT Form in PDF Format, Download SBI NEFT Form in PDF Format ,Download Latest & Updated SBI Bank  NEFT Form in PDF format , Request form of  NEFT for SBI  Bank, Download SBI… Read More »

New Income Tax News 05.07.2018

By | July 5, 2018

New Income Tax News 05.07.2018 New Income Tax News New Income Tax News Instant e PAN allotment : New Facility on Income Tax Website Aadhar PAN Link : Date Extended till 31.03.2019 : CBDT Notification Cost of inflation index (CII) for FY 2018-19 Notified Country by Country (CbC) Reports : CBDT issued Instruction No 2/2018 Leave… Read More »

New GST News 05.07.18

By | July 5, 2018

New GST News 05.07.18 [ Join online GST Course by CA Satbir Singh ] New GST News New Improvements in E way Bill GST on Bulders & Real Estate Transaction (June 2018 Edition ) Taxmann Book Updated GST  Notifications CGST Rules 2017 (updated) – : Chapter Wise & Rule wise Pay GST on Compensation received… Read More »

Leave Encashment Income Tax Treatment

By | July 5, 2018

Leave Encashment Income Tax Treatment Leave Encashment Income Tax Treatment / Taxation of Leave Encashment Why Leave Encashment is taxable : As per Section 17(1) of Income Tax Act  : (1) “salary” includes— …… —- (va) any payment received by an employee in respect of any period of leave not availed of by him; When Leave Encashment is not taxable   Section… Read More »

NOIDA is not local authority , No Income Tax Exemption : Supreme Court

By | July 5, 2018

The submission of the appellant is that the appellant is covered by Clause (ii) of the Explanation i.e. “Municipality as referred to in clause (e) of Article 243P of the Constitution”. We, while discussing above provisions, have already held that the appellant is not covered by the word/expression of “Municipality” in clause (e) of Article… Read More »

Tax Officer has to take decision on application for revision of VAT returns :Kerala HC

By | July 5, 2018

HIGH COURT OF KERALA KNR Walayar Tollways (P.) Ltd. v. Commercial Tax Officer P.B. SURESH KUMAR, J. W.P. (C) NO. 8643 OF 2018 MARCH  14, 2018 R. Muralidharan Aroor and R. Ramakrishnan Potty, Advs. for the Petitioner. V.K. Shamsudeen, Sr. Govt. Pleader for the Respondent. JUDGMENT 1. Petitioner was an assessee under the Kerala Value Added Tax Act (‘the Act’) on… Read More »

RBI Master Direction on Currency Distribution & Exchange Scheme

By | July 5, 2018

Master Direction on Currency Distribution & Exchange Scheme (CDES) based on performance in rendering customer service to the members of public RBI/DCM/2018-19/63 Master Direction DCM (CC) No.G-3/03.41.01/2018-19 July 3, 2018 The Chairman and Managing Director / Chief Executive Officers, All Banks Madam / Dear Sir, Master Direction on Currency Distribution & Exchange Scheme (CDES) based… Read More »

Currency Chest Transaction : RBI Master Direction on Levy of Penal Interest for Delayed Reporting / Wrong Reporting / Non-Reporting

By | July 5, 2018

Master Direction on Levy of Penal Interest for Delayed Reporting / Wrong Reporting / Non-Reporting of Currency Chest Transactions and Inclusion of Ineligible Amounts in Currency Chest Balances RBI/DCM/2018-19/62 Master Direction DCM (CC) No. G – 5/03.35.01/2018-19 July 3, 2018 1. The Chairman & Managing Director/Chief Executive Officer (All Banks having Currency Chests) 2. The… Read More »

Category: RBI

RBI Master Circular : Penalties for bank branches for customer service performance

By | July 5, 2018

Master Circular – Scheme of Penalties for bank branches based on performance in rendering customer service to the members of public RBI/2018-19/11 DCM (CC) No.G-4/03.44.01/2018–19 July 3, 2018 The Chairman & Managing Director Chief Executive Officers All Banks Madam / Dear Sir, Master Circular – Scheme of Penalties for bank branches based on performance in… Read More »