CBIC amends Rule 96, refund of integrated tax paid on goods or services exported out of India: Notification No. 53/2018 – Central Tax dated 9th October 2018.
CBEC has clarified that both the state and central authorities handling the goods and services tax have enforcement powers over all assessees in a state, triggering fears that the industry may get caught in a crossfire between the two.
National anti-profiteering authority (NAA) orders to Companies or dealers may have to cut prices of each stock keeping unit (SKU) of their products to pass on the benefits of any lower GST rate. in a case related to a Maggi noodles (Nestle’s) dealer.
SEBI has allowed eligible foreign entities including stock exchanges to hold 15 per cent stake in depository participants in India. Earlier, foreign players were allowed to hold 15 per cent in domestic stock exchanges but none of them have scaled up their holdings to that mark so far as India’s exchange space is considered heavily regulated
ICAI has made it mandatory for its members to get a unique document identification number, or UDIN, a move to identify and weed out fake chartered accountants. From January 1, 2019, all paperwork for clients will need to show UDIN of the CA.
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Both Central and State tax authorities are authorized to initiate enforcement action against taxpayers
The Govt. has clarified that both Central and State tax authorities are authorized to initiate intelligence based enforcement action against taxpayers irrespective of the administrative assignment of the taxpayer to any authority.
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GST Refund worth Rs 22,000 Cr yet to be processed: FIEO appeals to another Refund Fortnight by CBIC
Read more at: http://www.taxscan.in/gst-refund-fieo-fortnight-cbic/29494/
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ICAI constitutes High Power Group on IL&FS Matter: Seeks Explanation from Audit Firms
Read more at: http://www.taxscan.in/icai-group-ilfs-matter-audit-firms/29534/
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Interest Free Maintenance Security Deposit collected by Maintenance Service Provider not subject to Service Tax [Read Order]
Read more at: http://www.taxscan.in/interest-free-maintenance-security-deposit-collected-maintenance-service-provider-service-tax/29502/
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Tractor Cess not leviable on part and Component of Tractor: CESTAT [Read Order]
Read more at: http://www.taxscan.in/tractor-cess-leviable-part-component-tractor-cestat/29517/
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SEZ Rules Amended: CAs and Cost Accountants are Now Eligible to Issue Half-Yearly Certificate regarding utilization of Goods and Service [Read Notification]
Read more at: http://www.taxscan.in/sez-rules-cas-cost-accountants-certificate/29528/
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Investment can’t be Written Off as Bad Debt If a Project fails to Take Off: ITAT [Read Order]
Read more at: http://www.taxscan.in/investment-written-off-bad-debt-project-fails-take-off-itat/29485/
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Delhi HC stays Proceedings by NFRA: Send Notice to Govt on Petition by Chartered Accountants Body [Read Petition]
Read more at: http://www.taxscan.in/delhi-hc-stays-proceedings-nfra-send-notice-govt-petition-chartered-accountants-body/29508/
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Uber gets Interim Relief: ITAT stays Demand for Non-Deduction of Tax on Payment to Drivers [Read Order]
Read more at: http://www.taxscan.in/uber-interim-relief-itat-stays-demand-non-deduction-tax-payment-drivers/29535/
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Delhi HC stays Proceedings by NFRA: Send Notice to Govt on Petition by Chartered Accountants Body [Read Petition]
Read more at: http://www.taxscan.in/delhi-hc-stays-proceedings-nfra-send-notice-govt-petition-chartered-accountants-body/29508/
