Tag: Press Release

Cabinet approves Mutual Recognition Agreement between the Institute of Chartered Accountants of India and the South African Institute of Chartered Accountants  Mutual Recognition Agreement between the ICAI and SAICA The Union Cabinet chaired by Prime Minister Shri Narendra Modi has has approved the Mutual Recognition Agreement between the Institute …

GST Revenue Collections for the Financial Year 2017-18 stands provisionally at Rs. 7.41 lakh crore including collection of July 2017 GST Revenue Collections for the Financial Year 2017-18  Total Revenue of Rs. 7.19 lakh crore collected under GST in the period between August 2017 and March 2018  During …

Roll out of intra-State e-way bills in 6 more states from 20th April 2018 As per the decision of the GST Council, e-Way Bill system for all inter-State movement of goods has been rolled out from 01st April, 2018. As on 15th April, 2018, e-Way Bill system for intra-State movement of …

Government assures supply of currency notes to ATMs to meet unusual spurt in demand  Government reviews the currency circulation in the country  Government and RBI have taken all steps to meet unusual demand of the currency Adequate reserves of currency to meet the rising demands Non Functional ATMS to be …

CBDT notifies the Protocol amending the Double Taxation Avoidance Convention (DTAC) between India and Kazakhstan.  A Protocol to amend the existing Double Taxation Avoidance Convention (DTAC) between India and Kazakhstan, earlier signed on 9th December, 1996 for the avoidance of double taxation and for the prevention of fiscal evasion …

Public Sector Banks to require copy of passport of promoters/directors and other authorised signatories of companies for loan facilities of Rs. 50 crore and above Shri Shiv Pratap Shukla, Minister of State for Finance in a written reply to a question in Lok Sabha today stated that the …

GST rate applicable to all railway catering services 5% Uniform rate of GST applies to all railway catering services in trains or on stations.  The Finance Ministry to remove any doubt or uncertainty in the matter and bring uniformity in the rate of GST applicable to supply of …

CBDT notifies Income Tax Return Forms for Assessment Year 2018-19  The Central Board of Direct Taxes(CBDT) has notified Income Tax Return Forms (ITR Forms) for the Assessment Year 2018-19. For Assessment Year 2017-18, a one page simplified ITR Form-1(Sahaj) was notified. This initiative benefited around 3 crore taxpayers, …

Pensioners also eligible to standard deduction of Rs 40,000/- or the amount of pension, whichever is less, under Section 16 of the Income Tax Act Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi, 5th April, 2018 PRESS RELEASE Clarification regarding …

Process to be followed for registration as Registered Valuer with Insolvency and Bankruptcy Board (IBBI) of India under the Companies (Registered Valuers and Valuation) Rules, 2017  With an objective to familiarise the eligible and desirous individuals and entities with the process of registration as a valuer with the Insolvency …