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Abcaus

GST refunds

Pending IGST refunds to be granted on CA certificate basis where records not transmitted by GSTN

administrator May 30, 2018 GST
Pending IGST refunds to be granted on CA certificate basis where records not transmitted by GSTN to DG Systems. As interim solution refund shall be granted subject to undertakings/ submission of CA certificates by exporters and post refund audit scrutiny. Circular No. 12/2018-Customs F. No. 450/119/2017-CusIV Government of …
CSR

CSR-Company to give preference to the local area where it operates for spending amount earmarked for CSR

administrator May 29, 2018 Companies Act
CSR-Company to give preference to the local area where it operates for spending the amount earmarked for CSR u/s 135(5) of the Companies Act 2013 General Circular No. 06/2018 F. No. 08/05/2018-CSR Government of India Ministry of Corporate Affairs 5th Floor, ‘A’ Wing, Shastri Bhawan, Dr. R.P.Road, New …
income tax reopening

Limitation period for reassessment u/s 150(1) when assessment is made in wrong hands

administrator May 29, 2018 Income Tax, ITAT
Limitation for reassessment u/s 150(1) has to be counted on the date of assessment order passed by the AO assessing the income in the wrong hands – ITAT This appeal by the assessee was directed against the order of CIT (A) upholding the legality of the reassessment made …

Procedure for issue of notice to fugitive economic offender abroad by the Special Court

administrator May 29, 2018 Finance Ministry
Procedure for issue of notice to fugitive economic offender abroad by the Special Court under Fugitive Economic Offenders Ordinance 2018 MINISTRY OF FINANCE (Department of Economic Affairs) NOTIFICATION New Delhi, the 25th May, 2018 G.S.R. 501(E).— In exercise of the powers conferred by sub-section (1) read with clause (e) of …
GST Portal shut down

GSTN shut down for 6 hours on 2nd June 2018 due to Disaster Recovery Drill

administrator May 28, 2018 GST
GSTN shut down for 6 hours on 2nd June 2018 due to Disaster Recovery Drill Goods and Services Tax Network ( GSTN ) is all set for a major disaster recovery drill of GST System on Saturday, 2nd June 2018. As a result, the users/taxpayers of the GST …
GST law and taxation relating to farmers

No change in the GST law and taxation relating to farmers since July 2017

administrator May 28, 2018 GST
No change in the GST law and taxation relating to farmers since July, 2017; Support Services to agriculture, forestry, fishing or animal husbandry are exempt from GST; Agriculturists are also exempted from taking GST Registration.  Ministry of Finance Press Release 28th May, 2018 It has been reported in …

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