Day: March 8, 2018
Facility for Cancellation of Provisional Registration by migrated taxpayers has been enhanced on the GST Portal. Now migrated taxpayers, who have made payments/issued invoice/filed other forms, will be stopped from cancelling their Provisional Registration. This enhancement will avoid inadvertent cancellations of registration by the Migrated Taxpayers. In case, …
CCIT responsible for CIT-A working and quality of orders. CIT-Appeals should abide by CBDT instructions for timely issue/dispatch of appellate orders. CBDT has stated that failure of the Chief Commissioners of Income Tax to conduct regular inspections of the CIT (Appeals) working under them or failure to keep a watch …
Income Tax Department has issued an advisory for payment of monthly rent over Rs. 50000/- ITD has cautioned individuals/HUFs (except those liable tax audit u/s 44AB(a) and (b), paying rent to a resident in excess of Rs. 50000/-. The ITD has advised such payers to deduct TDS @ 5% …
Refund of integrated tax paid on account of zero rated supplies-Flyer by NACIN With a view to sensitize the trade on the issue of IGST refund National Academy of Customs, Indirect Taxes & Narcotics (NACIN) Mumbai has developed a flyer on ‘Refund of integrated tax paid on account of …
Insolvency and Bankruptcy Board of India (IBBI) invites comments on draft IBBI (Mechanism for Issuing Regulations) Regulations, 2018. Comments may be e-mailed at feedback@ibbi.gov.in by 31st March, 2018, with subject line “Mechanism for Issuing Regulations”. The Insolvency and Bankruptcy Code, 2016 (Code) is a modern economic legislation. Section …