CAclubindia News

Printing of Post GST Rates on Old Stock

29 July 2017 at 13:23

On account of implementation of GST there may be instances where the retail sale price printed on a pre-packaged commodity is required to be changed. The Department has issued an order according to which, manufacturers/ packers/ importers of pre-pac

Posted in GST | 8 comments | 23094 Views

BRICS countries Heads of Revenue meeting hails GST Reforms

29 July 2017 at 13:23

BRICS countries’ Heads of Revenue Meeting hails GST Reforms being introduced in India; Memorandum of Cooperation (MOC) in respect of tax matters identifying areas of cooperation signed by the BRICS Heads of Revenue at the Meeting held at Hangzh

Posted in GST | 3393 Views

Relevant part of MAT-Ind AS Committee Report

28 July 2017 at 11:26

Relevant part of MAT-Ind AS Committee Report dated 17th June, 2017 containing recommendations regarding amendment to the provisions of the section 115JB of the Income-tax Act, 1961 in respect of Ind AS Compliant Companies.Under Ind AS, there are cert

Posted in Accounts | 5673 Views

Benami Transactions Across the Country

27 July 2017 at 11:06

The Government of India has taken several steps to address the problem of benami transactions across the country. (i) The Benami Transactions (Prohibition) Act, 1988 (the Act) was comprehensively amended through the Benami Transactions (Prohibition)

Posted in Income Tax | 5838 Views

Benefits of GST for the Transport Sector

27 July 2017 at 11:06

The transport sector stands to benefit from the recently rolled out GST in several ways. Pre- GST, the complex tax structure and paper work forced the transport industry to spend a lot of resources on tax compliance and deposit of interstate sales ta

Posted in GST | 8817 Views

Issues arising from implementation of MAT on IAS compliant companies

26 July 2017 at 10:43

Government of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Direct TaxesIssues arising from the implementation of Minimum Alternate Tax (MAT) provisions relating to Indian Accounting Standards (Ind AS) compliant companies.Finance Act,

Posted in Corporate Law | 3999 Views

Selection of Chairman of National Anti profiteering authority under GST

26 July 2017 at 10:43

GST Council forms a Selection Committee under the Chairmanship of Cabinet Secretary to identify and recommend eligible persons for appointment as the Chairman and Members of the National Anti-profiteering Authority under GST The GST Council has forme

Posted in GST | 3057 Views

Impact of GST on Civil Aviation Sector

26 July 2017 at 10:43

Under the GST regime the applicable tax rate on economy class passenger tickets has been reduced from 6% to 5% (non-creditable for goods), while the tax rate on business class has been increased from 9% to 12% with input tax creditable for both goods

Posted in GST | 3135 Views

Case study on birth of GST released

26 July 2017 at 10:43

The Union Finance Minister, Shri Arun Jaitley releases a Case Study on the Birth of the Goods and Services Tax (GST) in India � �The GST Saga: A Story of Extraordinary National Ambition� in national capital today. A Case Study on th

Posted in GST | 4239 Views

GST Offline Tool to collate and upload the invoices

25 July 2017 at 11:19

Returns Offline Tool Version V1.0Download, extract and run the GST Offline Tool to collate and upload the invoices and other data in offline mode. Download gst_offline_tool.zip will contain following four filesSample_filesOffline Tool User ManualRead

Posted in GST | 3 comments | 9513 Views