CGST (Fourteenth Amendment) Rules,2017
Posted Date : 29-Dec-2017 , 06:21:15 pm | Posted By: Manya
G.S.R……(E):- In exercise of the powers conferred by section 164 of the Central Goods and
Services Tax Act, 2017 (12 of 2017), the Central Government hereby makes the following
rules further to amend the Central Goods and Services Tax Rules, 2017, namely:-...
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GST |
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Notifies the date from which E-Way Bill Rules shall come into force
Posted Date : 29-Dec-2017 , 06:19:51 pm | Posted By: Manya
G.S.R. …..(E).— In exercise of the powers conferred by section 164 of the
Central Goods and Services Tax Act, 2017 (12 of 2017), the Central
Government hereby appoints the 1st day of February, 2018, as the date from
which the provisions of serial numbers 2(i) and 2(ii) of notification No. 27/2017
– Central Tax dated the 30th August, 2017, published in the Gazette of India,
Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R 1121 (E),
dated the 30th Augu...
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GST |
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Waives the late fee payable for failure to furnish the return in FORM GSTR-4
Posted Date : 29-Dec-2017 , 06:17:51 pm | Posted By: Manya
G.S.R……(E):- In exercise of the powers conferred by section 128 of the Central Goods and
Services Tax Act, 2017 (12 of 2017) (hereafter in this notification referred to as the said Act),
the Central Government, on the recommendations of the Council, hereby waives the amount
of late fee payable under section 47 of the said Act, by any registered person for failure to
furnish the return in FORM GSTR-4 by the due date, which is in excess of an amount of
twenty five rupees for eve...
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GST |
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Extends the due dates for monthly furnishing of FORM GSTR-1 for taxpayers with aggregate turnover of more than Rs.1.5 crores.
Posted Date : 29-Dec-2017 , 06:16:24 pm | Posted By: Manya
G.S.R. (E):— In exercise of the powers conferred by the second proviso to subsection
(1) of section 37 read with section 168 of the Central Goods and Services Tax Act, 2017 (12
of 2017) (hereinafter in this notification
referred to as the Act) and in supersession of notification No. 58/2017 – Central Tax dated the 15th
November, 2017, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section
(i), vide number G.S.R 1414 (E), dated the 15th November, 2017, ...
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GST |
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Extends the due dates for quarterly furnishing of FORM GSTR-1 for taxpayers with aggregate turnover of upto Rs.1.5 crore.
Posted Date : 29-Dec-2017 , 06:14:08 pm | Posted By: Manya
G.S.R. (E):— In exercise of the powers conferred by section 148 of the Central Goods and
Services Tax Act, 2017 (12 of 2017), and in supersession of notification No. 57/2017 – Central Tax
dated the 15th November, 2017, published in the Gazette of India,
Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R 1413 (E), dated the 15th
November, 2017, except as respects things done or omitted to be done before such supersession, the
Central Government, on the recommen...
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GST |
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Prompt implementation of Governments’ instructions by agency banks
Posted Date : 22-Dec-2017 , 08:55:47 am | Posted By: CASANSAAR
RBI/2017-18/111
DGBA.GBD/1616/15.02.005/2017-18
December 21, 2017
All Agency Banks
Dear Sir / Madam,
Prompt implementation of Governments’ instructions by agency banks
It is brought to our notice that some agency banks are not adhering to instructions/ notifications issued by Government (Central as well as States) promptly by stating that further communications have not been received by them from RBI.
2. In this connection, all agency banks are advised to scrupulously fo...
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RBI |
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Extension of time limit for intimation in FORM GST CMP-03
Posted Date : 22-Dec-2017 , 08:45:57 am | Posted By: CASANSAAR
In exercise of the powers conferred by sub-rule (4) of rule 3 of the Central Goods and Services Tax Rules, 2017 read with section 168 of the Central Goods and Services Tax Act, 2017 (hereafter referred to as “the Act”), on the recommendations of the Council, and in supersession of Order No. 05/2017-GST dated 28th October, 2017, the period for intimation of details of stock held on the date preceding the date from which the option to pay tax under section 10 of the Act is exercised in...
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GST |
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Manual filing of applications for Advance Ruling and appeals before Appellate Authority for Advance Ruling
Posted Date : 22-Dec-2017 , 08:43:07 am | Posted By: CASANSAAR
As per rules 104 and 106 of the CGST Rules, 2017 (hereinafter referred to as “the CGST Rules”) the application for obtaining an advance ruling and filing an appeal against anadvance ruling shall be made by the applicant on the common portal. However, due to the unavailability of the requisite forms on the common portal, a new rule 107A has been inserted vide notification No. 55/2017-Central Tax, dated 15.11.2017, which states that in respect of any process or procedure prescribed in ...
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GST |
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Manual filing and processing of refund claims on account of inverted duty structure, deemed exports and excess balance in electronic cash ledger
Posted Date : 22-Dec-2017 , 08:42:01 am | Posted By: CASANSAAR
Due to the non-availability of the refund module on the common portal, it has been decided by the competent authority, on the recommendations of the Council, that the applications/documents/forms pertaining to refund claims on account of inverted duty structure (including supplies in terms of notification Nos. 40/2017-Central Tax (Rate)and 41/2017-Integrated Tax (Rate) both dated 23.10.2017), deemed exports and excess balance in electronic cash ledger shall be filed and processed manually till f...
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GST |
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Issues in respect of maintenance of books of accounts relating to additional place of business by a principal or an auctioneer for the purpose of auction of tea, coffee, rubber etc
Posted Date : 22-Dec-2017 , 08:40:51 am | Posted By: CASANSAAR
Various communications have been received regarding the difficulties being faced by a principal and an auctioneer in relation to maintaining books of accounts at each and every additional place of business related to stock of goods like tea, coffee, rubber, etc. meant for supply through an auction. Therefore, in exercise of the powers conferred under section 168 (1) of the Central Goods and Services Tax Act, 2017, for the purpose of uniformity in the implementation of the Act, it has been decide...
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GST |
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Clarification on issues regarding treatment of supply by an artist in various States and supply of goods by artists from galleries
Posted Date : 22-Dec-2017 , 08:39:53 am | Posted By: CASANSAAR
Various representations have been received regarding taxation of the supply of art works by artists in different States other than the State in which they are registered as a taxable person. In such cases, if the art work is selected by the buyer, then the supplier issues a tax invoice only at the time of supply. It has been represented that the artists give their work of art to galleries where it is exhibited for supply. There seems to be confusion regarding the treatment of this activity wheth...
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GST |
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CBEC amends Form GSTR-1, GST RFD-01& Form GST RFD-01A
Posted Date : 22-Dec-2017 , 08:37:46 am | Posted By: CASANSAAR
G.S.R……(E):- In exercise of the powers conferred by section 164 of the Central Goods and Services Tax Act, 2017 (12 of 2017), the Central Government hereby makes the following rules further to amend the Central Goods and Services Tax Rules, 2017, namely:-
(1) These rules may be called the Central Goods and Services Tax (Thirteenth Amendment) Rules, 2017.
(2) They shall come into force on the date of their publication in the Official Gazette. 2. In the Central Goods and Services...
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Category :
GST |
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CBEC extends time limit for filing GSTR-5A to 31.01.2018
Posted Date : 22-Dec-2017 , 08:36:45 am | Posted By: CASANSAAR
G.S.R. (E).— In exercise of the powers conferred by sub-section (6) of section 39 read with section 168 of the Central Goods and Services Tax Act, 2017 (12 of 2017) and section 20 of the Integrated Goods and Services Tax Act, 2017 (13 of 2017) and in supersession of notification No. 61/2017-Central Tax, dated the 15th November, 2017, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 1417 (E), dated the 15th November, 2017, except as r...
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GST |
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CBEC extends time limit for filing GSTR-5 to 31.01.2018
Posted Date : 22-Dec-2017 , 08:36:12 am | Posted By: CASANSAAR
G.S.R. (E).- In exercise of the powers conferred by sub-section (6) of section 39 read with section 168 of the Central Goods and Services Tax Act, 2017 (12 of 2017) (hereinafter referred to as the said Act) and in supersession of notification No. 60/2017-Central Tax, dated the 15th November, 2017, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 1416 (E), dated the 15th November, 2017, except as respects things done or omitted to be done b...
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GST |
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CBEC extends time limit for filing GST ITC-01 to 31.01.2018
Posted Date : 22-Dec-2017 , 08:34:42 am | Posted By: CASANSAAR
G.S.R. …..(E).- In pursuance of section 168 of the Central Goods and Services Tax Act, 2017 (12 of 2017) (hereinafter referred to as the said Act) and clause (b) of sub-rule (1) of rule 40 of the Central Goods and Services Tax Rules, 2017 and in supersession of notification No. 44/2017- Central Tax, dated the 13th October, 2017, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 1258 (E), dated the 13th October, 2017, except as respec...
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GST |
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CBDT amends rules for Service of notice, requisition, summons, order etc
Posted Date : 22-Dec-2017 , 08:31:04 am | Posted By: CASANSAAR
NOTIFICATION
New Delhi, the 20th December, 2017
G.S.R. 1527(E).—In exercise of the powers conferred by section 282 read with section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely:—
1. (1) These rules may be called the Income –tax (25th Amendment) Rules, 2017.
(2) They shall come into force from the date of their publication in the Official Gaz...
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CBDT |
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Submission of Financial Information to Information Utilities - RBI
Posted Date : 19-Dec-2017 , 02:35:30 pm | Posted By: Manya
RBI/2017-18/110
DBR.No.Leg.BC.98/09.08.019/2017-18
December 19, 2017
All Scheduled Commercial Banks (Including RRBs),
Small Finance Banks, Local Area Banks,
All Co-operative Banks,
All NBFCs and All India Financial Institutions
Dear Sir/Madam
Submission of Financial Information to Information Utilities
According to Section 215 of Insolvency and Bankruptcy Code (IBC), 2016, a financial creditor shall submit financial information and information relating to assets in relation to...
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RBI |
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Extension of due date of deposit of TDS/ TCS for the month of October to 08.11.2017
Posted Date : 15-Dec-2017 , 08:55:49 am | Posted By: CASANSAAR
F. No. 275/38/2017-IT(B)
GOVERNMENT OF INDIA
MINISTRY OF FINANCE
DEPARTMENT OF REVENUE
CENTRAL BOARD OF DIRECT TAXES
North Block, New Delhi
Date: 13th December, 2017
ORDER UNDER SECTION 119 OF THE INCOME-TAX ACT, 1961
Due to certain technical issues faced by NSDL’s gateway for e-payment of tax on 7th November, 2017, some taxpayers/ deductors were unable to make e-payment of tax deducted/ collected for certain period on that date. In order to redress genuine hardsh...
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Category :
Income Tax |
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Customer Protection - Limiting Liability of Customers of Co-operative Banks in Unauthorised Electronic Banking Transactions
Posted Date : 14-Dec-2017 , 05:51:27 pm | Posted By: Manya
RBI/2017-18/109
DCBR.BPD.(PCB/RCB).Cir.No.06/12.05.001/2017-18
December 14, 2017
The Chief Executive Officer
All Primary (Urban) Co-operative Banks/
All State Co-operative Banks/
All District Central Co-operative Banks
Madam / Dear Sir,
Customer Protection - Limiting Liability of Customers of Co-operative Banks in Unauthorised Electronic Banking Transactions
Please refer to our circular UBD.BSD.I/PCB/No.45/12.05.00/2001-02 dated May 30, 2002 and para 13 of circular RPCD.CO.RCB...
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Category :
RBI |
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Investment by Foreign Portfolio Investors (FPI) in Government Securities Medium Term Framework – Review
Posted Date : 13-Dec-2017 , 08:00:04 am | Posted By: CASANSAAR
RBI/2017-18/108
A.P. (DIR Series) Circular No. 14
December 12, 2017
To,
All Authorized Persons
Madam / Sir
Investment by Foreign Portfolio Investors (FPI) in Government Securities
Medium Term Framework – Review
Attention of Authorised Dealer Category-I (AD Category-I) banks is invited to Schedule 5 to the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) Regulations, 2000 notified videNotification No. FEMA.20/2000-RB dated Ma...
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Category :
FEMA |
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MCA highlights Irregular certification of ROC e-forms
Posted Date : 13-Dec-2017 , 07:58:17 am | Posted By: CASANSAAR
Government of India
MINISTRY OF CORPORATE AFFAIRS
Office of the Regional Director (North Eastern Region)
Morellow Building Ground Floor
Kachary Road
Shillong-793 001
Ref: RD/NER/406
Dated: 01.12.2017
To
SHRI SANDEEP TRIPATHI
Chartered Accountant
110, 1st Floor
Palika Plaza, Phase-I
MTH Compound
Indore- 452001
Sub : Irregular certification of e-form
Sir,
Various e-forms AOC-4 were certified by you stating- “I declare that I have been duly engaged for the purpose...
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Category :
Companies Act |
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Companies (Cost Records and Audit) Amendment Rules, 2017 - MCA
Posted Date : 08-Dec-2017 , 08:16:13 pm | Posted By: CASANSAAR
G.S. R. …………….. (E).- In exercise of the powers conferred by sub-sections (1) and (2) of section 469 and section 148 of the Companies Act, 2013 (18 of 2013) (hereinafter referred as the Act), the Central Government hereby makes the following rules further to amend the Companies (cost records and audit) Rules, 2014, namely:-
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Category :
Companies Act |
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CBDT extends date for linking of Aadhaar with PAN
Posted Date : 08-Dec-2017 , 08:13:14 pm | Posted By: CASANSAAR
Government of India
Ministry of Finance
Department of Revenue
Central Board of Direct Taxes
PRESS RELEASE
New Delhi, 8th December, 2017
CBDT extends date for linking of Aadhaar with PAN
Under the provisions of recently introduced section 139AA of the Income-tax Act, 1961 (the Act), with effect from 01.07.2017, all taxpayers having Aadhaar Number or Enrolment Number are required to link the same with Permanent Account Number (PAN). In view of the difficulties faced by some of the tax...
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Category :
CBDT |
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0 | Hits : 1021
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Settlement of Agency transactions in certain cases (for Funds and Agency Commission) directly from Reserve Bank of India
Posted Date : 07-Dec-2017 , 06:36:52 am | Posted By: Manya
RBI/2017-18/107
DGBA.GBD.No-1498/31.02.007/2017-18
December 7, 2017
The Chairman/ Managing Director/ Chief Executive Officer/
Agency Banks
Dear Sir/ Madam
As per the existing arrangements in certain states, in certain cases, some agency banks are routing their agency transactions of state governments through another agency bank, that acts as an aggregator, that in turn settles these agency transactions with concerned Regional Office of RBI for both receipts and paym...
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Category :
RBI |
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0 | Hits : 1342
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Rationalisation of Merchant Discount Rate (MDR) for Debit Card Transactions
Posted Date : 07-Dec-2017 , 12:30:41 am | Posted By: Manya
RBI/2017-18/105
DPSS.CO.PD No. 1633/02.14.003/2017-18
December 06, 2017
The Chairman and Managing Director / Chief Executive Officers
All Scheduled Commercial Banks including RRBs / Urban Co-operative Banks /
State Co-operative Banks / District Central Co-operative Banks /
Payment Banks and Small Finance Banks /All Card Network Providers
...
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Category :
RBI |
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0 | Hits : 1591
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SEBI Guideline on appointment of Auditors of Mutual Funds
Posted Date : 02-Dec-2017 , 09:00:46 am | Posted By: CASANSAAR
Securities and Exchange Board of India
CIRCULAR
SEBI/HO/IMD/DF2/CIR/P/2017/125
November 30, 2017
All Mutual Funds/ Asset Management Companies (AMCs)/ Trustee Companies/ Boards of Trustees of Mutual Funds
Sir/Madam,
Sub: Enhancing fund governance for Mutual Funds
In order to strengthen the governance structure for Mutual Funds (MFs), it has been decided to implement the following:
A. Tenure of independent trustees and independent directors:
1. Regulation 16 (5) an...
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Category :
SEBI |
Comments :
0 | Hits : 2108
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Reporting of Transactions by agency banks to RBI
Posted Date : 01-Dec-2017 , 09:44:09 am | Posted By: CASANSAAR
RBI/2017-18/103
DGBA.GBD.1472/31.02.007/2017-18
November 30, 2017
All Agency Banks
Dear Sir
Reporting of Transactions by agency banks to RBI
It has been brought to our notice that some agency banks are reporting government transactions after considerable delay and along with the current transactions to RBI, without taking necessary authorisation from the concerned government departments.
2....
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Category :
RBI |
Comments :
0 | Hits : 1745
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Unauthorized expansion of scope of limited scrutiny- CBDT
Posted Date : 01-Dec-2017 , 09:37:45 am | Posted By: CASANSAAR
CBDT has issued detailed guidelines/ directions for completion of cases of limited scrutiny selected through CASS module. These guidelines postulate that an Assessing Officer, in limited scrutiny cases cannot travel beyond the issues for which the case was selected. The idea behind such stipulations was to enforce checks and balances upon powers of an AO to do fishing and roving inquiries in cases selected for limited scrutiny....
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Category :
CBDT |
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Conversion of debt into equity- Review
Posted Date : 24-Nov-2017 , 08:26:05 am | Posted By: CASANSAAR
RBI/2017-18/101
DNBR.PD(ARC)CC. No.04/26.03.001/2017-18
November 23, 2017
The Chairman/ Managing Director/ Chief Executive Officer
All registered Asset Reconstruction Companies
Dear Sir/Madam,
Conversion of debt into equity- Review
Please refer to ourCircular DNBS(PD)CC.No. 35/SCRC/26.03.001/2013-14 dated January 23, 2014on the above subject.
2. On a review of the limit imposed on shareholding of the post converted equity of the borrower company under reconstruction by Asse...
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Category :
RBI |
Comments :
0 | Hits : 1798
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Special Deposit Scheme (SDS)-1975 Payment of interest for calendar year 2017
Posted Date : 24-Nov-2017 , 08:25:17 am | Posted By: CASANSAAR
RBI/2017-18/100
DGBA.GBD.No.1387/15.01.001/2017-18
November 23, 2017
The Chairman/Managing Director/Chief Executive Officer/
Agency Banks Handling the Special Deposit Scheme 1975
Dear Sir
Special Deposit Scheme (SDS)-1975
Payment of interest for calendar year 2017
We want to inform that gazette notifications related to interest rates for SDS 1975 are available in Government of India website viz.egazette.nic.inwhich can be perused for guidance. You may please ensure that interes...
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Category :
RBI |
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