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GST Council approves Draft Rules; Adopts 'tax & reimburse' approach for exempted entities
October 01 2016
GST Council approves draft Rules with respect to registration, payment, returns, refunds and invoices / debit & credit notes, will be notified after enactment of GST Act; Decides to levy tax on al...View more
FM Arun Jaitley confident of meeting rollout date; Existing levies to continue till September 2017
September 30 2016
FM Arun Jaitley, while speaking at the fourth meeting of Parliamentary Consultative Committee attached to the Ministry of Finance, affirms that Govt. is following the roadmap for April 1, 2017 rollout...View more

CBEC revises monetary limits for SCN adjudication; Pending cases disposal by March 31, 2017
September 29 2016
CBEC revises monetary limits for adjudication of show cause notice in Central Excise and Service Tax matters; Accordingly, Superintendent shall adjudicate duty / tax / credit demand not exceeding Rs. ...View more
CBEC Chairman Najib Shah bats for minimal exemptions; GST a new beginning for organisation
September 29 2016
CBEC Chairman Najib Shah in an exclusive interview to CNBC TV 18 Managing Editor Sheeren Bhan, bats for minimal exemptions for India Inc. under GST, says that lesser the number of exemptions, the bett...View more

Maharashtra Govt notifies Advance Ruling Authority Regulations 2016; Lays down modus operandi of AAR
September 29 2016
Maharashtra Govt. notifies Advance Ruling Authority Regulations, 2016 prescribing inter alia the headquarters & place of hearing as ‘Greater Mumbai’ as well as detailed procedure for p...View more
CBEC revises Excise Officers' monetary limits to adjudge penalty; Empowers Audit Officers to adjudicate
September 29 2016
CBEC revises monetary limit of Central Excise Officers for purpose of adjudging penalty in service tax matters; Accordingly, Superintendent can adjudicate penalty where demand of service tax / CENVAT ...View more

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Tax Experts react to GST Council's consensus on threshold, dual control & compensation
September 26 2016
N. Venkataraman (Senior Advocate) Things happen only when they are destined to happen. All these years what was baffling was as to why GST was delayed? Alas! What is baffling now is  a...View more
Central Govt. releases Draft GST Rules & Formats on Invoice, Payment & Registration
September 26 2016
Central Govt. releases draft rules on payment, invoice & registration alongwith draft formats under GST regime, inviting comments by September 28 and making corresponding changes in Mode...View more

Central Govt. releases Draft GST Rules & Formats on 'Return' and 'Refund'
September 27 2016
Central Govt. releases draft Rules & formats on Returns & Refunds under GST regime, inviting comments by September 28; Draft Goods & Services Tax – Return Rules lay do...View more
Patna HC strikes down entry tax on eCommerce as illegal / violative of Article 304(a)
September 29 2016
Patna HC strikes down levy of entry tax on e-commerce transactions in Bihar as discriminatory and violative of Article 304(a) of Constitution of India; HC relies on SC ratio in Jai Prakash Associates ...View more

Finmin amends Form ST-3; Accounts for KKC & revises ISD / common credit details
September 29 2016
Finmin notifies Service Tax (Third Amendment) Rules, 2016 thereby amending Service Tax Return Form ST-3 to make it applicable to 'one person company' and 'partnership'; Accounts for Krishi Kalyan Cess...View more