Highlights of decisions taken at 25th meeting of GST Council held on 18th January 2018 at New Delhi As per Press Briefing of Finance Minister, GST rate has been cut down on 49 items while on 29 items will have GST rate of NIL. Finance Minister briefing the …

ICAI to identify non-performing employees ICAI has constituted a Group to study how Government Departments deal with non-performing employees and to identify non-performers in ICAI. The Group shall study the procedure followed by the Government Authorities for dealing with non-performing employees and to identify employees who are not …

Provision for interest on overdue fixed deposits was ascertained liability as the assessee was able to identify it when it filed returns-High Court ABCAUS Case Law Citation: ABCAUS 2168 (2018) (01) HC Important Case Laws Cited/relied upon by the parties: Bharat Earth Movers Ltd. Vs CIT, (2000) 245 …

Specifying limb of penalty section 271(1)(c) arises only when addition is made by the AO and not where assessee surrenders the income – ITAT Prelude: Issuance of show cause notice u/s 274 of the Income Tax Act, 1961 (the Act) for imposing penalty u/s 271(1)(c) of the Act …

Timeline for new company incorporation and name reservation forms. Date of discontinuance of old forms INC-1 and INC-7 and dates for re-submission A new name reservation service is being developed and is likely to be deployed on 26th January, 2018. Therefore w.e.f. 00:00 hours of 06-01-2018, INC-1 will …

E-way Bill Registration guidelines for taxpayers registered/unregistered under GST regime  Enrolment Procedure on E-way Bill Portal for GST Unregistered Transporters/others 1. Enrol by providing PAN details on E-way Bill Portal 2. Authentication shall be done with One Time Password (OTP) sent through Aadhaar registered Mobile Number 3. User …