1,200 applications from accused seeking mercy under compounding of offences rules with several of them approaching authority’s post-demonetisation.

A new Notification: Notification No. 10/2017-Service Tax dated 8th March, 2017 has been issued by Government so as to withdraw exemptions granted earlier to few specific Services provided “to” an Education Institutions.

The I-T department has developed a mobile app for paying taxes and tracking refunds and is considering issuing PANs on real time basis using Aadhaar biometric

Small scale industries of the region fear a drop in production and profitability due to subsuming excise exemptions and increased administrative work with the implementation of Goods and Services Tax.

The DVAT department. has further extended the due date for filing of online/ hard copy of DVAT return for Q3 of FY 2016-17 (i.e. Oct.~Dec. 2016) in Form DVAT-16, DVAT-17 and DVAT-48 along with required annexures/ enclosures, to 17 Mar. 2017.

The inclusion of low-priced glucose and other biscuits under the proposed Goods and Services Tax regime will probably lead to shutting down of about 240 biscuit factories.

Many banks and financial institutions may be in a lot of trouble as they could just see the complexity in paying taxes increase under the incoming goods and services tax.

The exemption under section 54EC up to R50 lakh would be available only if the capital gain arising from the transfer of a long-term capital asset, is invested in the specified bonds within six months from the date of such transfer.

Restaurants with an annual turnover of less than Rs 50 lakh has been put in a tax slab of 5 per cent in the GST council meet.

The GST Council at a meeting on Saturday broadly agreed on the contours of two key legislations CGST and IGST – but a final approval is likely only by mid-March. Union finance minister Arun Jaitley met with his state counterparts and discussed the GST legislation to be adopted by Union Territories, but there was no discussion with regard to … Continue reading “11th Meeting of GST Council Reflect India’s Federalist Character”

Tamil Nadu is ready to roll out the goods and services tax (GST) on July 1, the scheduled date, for which the state government has already brought 86% of the dealers under the new tax regime

The states and the Centre on Saturday decided on a 5% levy on dhabas and small restaurants under the goods and services tax

For the first time the government seems to be prepared for goods and services tax (GST) but the corporate world seems to be grappling with the regulation, people in the know said. Industry experts say that it was a blessing in disguise that the deadline for GST was pushed back as most of the companies … Continue reading “Most companies may be struggling with GST”

After a decade-long wait, India will finally implement the Goods and Service tax this will help to remove tax barriers between states, creating a single market. Now a days many updations are flooded in GST regime as GST is going to implement from 1st July 2017. German software company SAP SE on Wednesday launched ‘GST … Continue reading “SAP launches “GST in a Box” to help SMEs”

CBEC vide notification no. 14/2017-Customs (N.T) dated 2nd March 2017 determines the rate of exchange of Conversion of each of the foreign Currencies in to Indian currencies relating to export and Import of goods. This notification would come into effect from 3rd March, 2017. SNO. Foreign Currencies For Imported goods per unit of foreign currency … Continue reading “Supersession of notification no- 12/2017-Customs (N.T) dated 16th February 2017”