Vide Circular No.1049 / 37 / 2016 - CX dated 29.09.2016, the Central Board of Excise and Customs (“the Board”) has suppressed the specified Circulars issued regarding adjudication of cases in Central Excise and Service Tax. The CBEC has also issued the instructions to revise the existing monetary limits for adjudication and to allow greater … Continue reading Revised Monetary Limits for adjudication of Show Cause Notice in Central Excise and Service Tax
REGISTRATION UNDER MODEL GST LAW READ WITH DRAFT RULES
(A) INTRODUCTION As we all know that the Empowered Committee of State Finance Ministers has released draft GST Model Law. Subsequently, the President gave his consent to the Constitutional Amendment Bill on September 08, 2016. Thereafter, the GST Council was formed as per the provisions of Article 279A of the 101st Constitutional Amendment Act, 2016. … Continue reading REGISTRATION UNDER MODEL GST LAW READ WITH DRAFT RULES
GST Council agrees on five areas; differ over 1st meet decision
In signs of fracture, the Centre and states today disagreed on decisions reached at the first meeting of the GST Council on service tax assessment although they reached a consensus on area based exemption in the new tax regime. The second meeting of the all-powerful GST Council, headed by Finance Minister Arun Jaitley, agreed on … Continue reading GST Council agrees on five areas; differ over 1st meet decision
Shahabuddin sent to Siwan jail after Supreme Court cancels his bail
The Supreme Court cancelled the RJD strongman's bail and ordered that he should be sent back to jail in the Rajiv Roshan murder case. RJD strongman Mohammad Shahabuddin has been sent to a jail in Siwan after the Supreme Court today cancelled his bail in the Rajiv Roshan murder case. The Siwan-based don had surrendered … Continue reading Shahabuddin sent to Siwan jail after Supreme Court cancels his bail
Life insurers want exemption from GST; General insurers have demanded differential rates
As the GST rollout plans gathers momentum, life insurers sought exemption from the new taxation regime on premium income, while general insurers have demanded differential rates for their products. Life insurers, who are set to write to the Prime Minister seeking exemption from the new tax regime, feel that their premium income has remained stagnant since the industry was brought under service tax in 2012. Since life insurers are passing on service tax to customers, … Continue reading Life insurers want exemption from GST; General insurers have demanded differential rates
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