Government of India vide their Notification no. 2652 dated November 8, 2016 have withdrawn the Legal Tender status of ₹ 500 and ₹ 1,000 denominations of banknotes of the Mahatma Gandhi Series issued by the Reserve Bank of India till November 8, 2016. This is necessitated to tackle counterfeiting Indian banknotes, to effectively nullify black money … Continue reading Withdrawal of Legal Tender Status for ₹ 500 and ₹ 1000 Notes: RBI Notice
SERVICE TAX ON SHORT TERM HOTEL ACCOMODATION HELD AS UNCONSTITUTIONAL
WRIT PETITION [W.P. (C) 6482 of 2011] BEFORE THE HON’BLE DELHI HIGH COURT In the matter of Federation of Hotels & Restaurants Association of India and Ors v. Union of India and Ors. The Federation of Hotels and Restaurants Association of India (“Petitioner”) is an association of hotels and its members (spread all over the … Continue reading SERVICE TAX ON SHORT TERM HOTEL ACCOMODATION HELD AS UNCONSTITUTIONAL
GST: November 08 is the D-day for migration of Eight Million Assesses
Come November 8, and the Goods and Services Tax Network (GSTN), which is expected to provide common and shared IT infrastructure for GST implementation, will on-board to its platform the details of about 80 lakh existing assessees of excise, value-added tax, customs and service tax, a top official said. “On this date (November 8), we … Continue reading GST: November 08 is the D-day for migration of Eight Million Assesses
Assam gets off the block with GST registration
The BJP-ruled Assam, the first state to ratify the GST Amendment Bill, has started the process for providing registration to taxpayers in the new indirect tax regime that is slated to kick in from April next year. The state tax department has started collecting mobile numbers and e-mail IDs of registered dealers or taxpayers under VAT, … Continue reading Assam gets off the block with GST registration
Commerce Ministry wants exemptions for exporters to continue under GST
The Commerce Ministry has suggested to its finance counterpart that the exemptions given to exporters should continue under the new indirect tax regime, GST. The proposed procedure of paying taxes and then claiming the refunds by exporters under the Goods and Services Tax (GST) would cause hardships for them, said an official. A substantial amount … Continue reading Commerce Ministry wants exemptions for exporters to continue under GST
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