Chartered Accountant
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Budget News *   GST: DGFT wants GST Council to create an e-wallet facility to ease exporters fears *   IRS officers seek PM's intervention for smooth roll-out of GST *  GST adoption could raise India's GDP to over 8%: IMF *  Demonetisation to pull down India GDP growth rate to 6%: IMF *  CBEC launches mobile application for GST updates *  Expected timelines for GST Laws, Rules and rates *  Taxpayers to get GST updates on finance ministry app *  Setback for GST: Need for e-permit to be flashed at inter-state borders *  Govt launches GST app to facilitate smooth transition to new tax regime *  Cos rush to merge arms for better efficiency under GST  *  GST could increase solar tariffs by nearly 10%: Study *  Bring land, real estate under GST’ *   Government expenditure as a share of GDP shrinks *   Key existing initiatives get a Budget boost *   Industry can do math on GST rate; no need to make guesses: Adhia  *   Budget 2017 at a glance: Readying the stage for GST *   Excise, SAD and CVD removed on POS to encourage digital economy *   Customs duty on LNG reducced *   Notional rent for builders of non occupied flats. *   Trade and industry awareness program for GST will be launched from April 1. *   No major changes in excise and service tax as GST to be implemented *   One page Income Tax Return for income upto 5 lakh *   Income tax rate @ 5% for 2.5 to 5.00 lakh slab *   no donation  to polictical party above Rs. 2000 in cash *   limit of cash payment reduced from 20000 to rs 10000 *   no transaction above 3 lakh in cash. *   MSE companies with 50 crore tax is reduced to 25%. *   Carpet area of 30 /60 square meter for affordable housing *   main thrust to curb black money *   special travel priviliges for soldiers
Subject News *   Whether benefit of abatement and cenvat credit admissible for part period in a single contract? {SEE PJ/CASE LAW/2016-2017/3428 in wha’s new)   *    Eligibility of credit of service tax paid to commission agents.(see pj/case law/2016-2017/3429 in what’s new) *   Whether penalty is imposable if service tax paid along with interest before issue of SCN?(see PJ/CASE LAW/2016-2017/3430 in what’s new) *   Whether limitation applicable for refund of service tax paid by mistake?{see PJ/Case Law /2016-17/3426 in what’s new} *   Whether renting of equipments for storing petrol is covered under storage and warehousing services?{See  PJ/Case Law /2016-17/3425 in what’s new} *   Eligibility of credit on columns of cranes{See PJ/Case Law /2016-17/3424 in what’s new} *   Whether denial of exemption allowed on inputs used to manufacture goods by 100% EOU proper if the final product is cleared in DTA?{see PJ/Case Law /2016-17/3427 in what’s new} *   Whether interest is refundable afterwards if the service tax liability is admitted?{see PJ/Case Law /2016-17/3423 in what’s new} *   Whether activity of storing of goods in cold storage covered under C & F?{See PJ/Case Law /2016-17/3422 in what’s new} *   Whether painting, tiling of existing building treated as repair and eligible for abatement?{See PJ/Case Law /2016-17/3421 in what’s new} *   'GST rollout will ease material flow from one state to another' *   Promotion Order No 33/2017 {See office order no. 33/2017 in what’s new} *   Classification of articles of paper and printing industry {See circular no. 1052/01/2017-CX in what’s new} *  Amendment in Chapter 2 of the Handbook of Procedure (2015-20).{See policy notice 59/2015-2020in what’s new} *   Amendment in Para 4.44 of Chapter 4 of the Foreign Trade Policy(FTP) 2015-20.{See notification no. 39/2015-2020in what’s new} *   Clarification of levy of MOT charges in CFSs attached to 24x7 ports {See circular no. 04/2017 in what’s new} *   Non leviability of service tax on the services rendered by the operators of Common Effluent Treatment Plant {See notification no.08/2017-Service Tax in what’s new} *  Manufacturers seek zero GST on low price biscuits *  GST governing council meets in Udaipur today to give approval to GST Draft Law    *   Refund of tax paid on taxable services used for export of goods{see PJ/Case Law /2016-17/3420 in what’s new}   *   Service tax liability on complimentary services provided.{See PJ/CaseStudy/2016-17/115 in what’s new} *   Levy of anti dumping duty on certain items exported from China {See notification no. 07/2017-Cus (ADD) in what’s new} *   Amendment in the list of Military Stores requiring NOC for export purpose .{See notification no. 38/2015-2020in what’s new} *   Empanelment of the officers of the Indian Revenue Service (C&CE) for promotion to the grade of Commissioner of Customs and Central Excise for the vacancy year 2007-08 on notional/actual basis.{See office order no. 32/2017 in what’s new} *   Service tax on transportation of goods by a vessel for goods intended for transshipment outside India {See circular no. 04/02/2017-ST in what’s new} *   Periodicity of CAS-4 certificates {See instruction no. F. NO. 206/01/2017-CX 6  in what’s new} *   Exchange Rate notified w.e.f. 17.02.2017 {See notification no. 12/2017-Cus (NT) in what’s new} *   Whether the assessment of Perfume and Deodorants imported by the assessee be loaded by 20% of the value as technical know-how fees paid and 1% of the value as royalty paid to their parent company?{See PJ/Case Law /2016-17/3417 in what’s new} *   Is credit admissible to the assessee if the invoices were issued by second stage dealer, however the inputs were purchased from the agent of such dealer?{seePJ/Case Law /2016-17/3416 in what’s new} *   Is refund admissible on delayed grant of refund?{See PJ/Case Law /2016-17/3414 in what’s new}