Taxation - Corporate Law Reporter

Govt. mandates Aadhaar linkage to PAN cards

Mandating Aadhaar linkage to PAN cards Permanent Account Number (PAN) is the key identifier of taxable entity and aggregator of all financial transactions undertaken by one person. One PAN for one person is the guiding principle for allotment of PAN. However, for achieving the objective of one PAN to one assessee it is required to… Read More

Govt. imposes levy of 10% BCD on cellular mobile phones and certain electronic goods

Government imposes levy of 10% basic customs duty (BCD) on cellular mobile phone, specified parts thereof and certain electronic goods. The Government had constituted Inter Ministerial Committee [IMC] comprising of officers from Ministry of Electronics and Information Technology (MeitY), the Department of Commerce (DoC), Department of Telecommunication (DoT) and Department of Revenue (DoR) to identify… Read More

Government enters into 9 UAPAs with Indian taxpayers in July, 2017

Government enters into nine Unilateral Advance Pricing Agreements (UAPAs) with Indian taxpayers in July, 2017 The Central Board of Direct Taxes (CBDT) entered into nine Unilateral Advance Pricing Agreements (UAPAs) with Indian taxpayers in the month of July, 2017. Some of the UAPAs signed had rollback provisions also. The APA Scheme endeavours to provide certainty… Read More

CBEC Fixes tariff value of Edible Oils, Brass Scrap, Poppy Seeds, Areca Nut, Gold and Sliver

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART-II, SECTION-3, SUBSECTION (ii)] Government of India Ministry of Finance (Department of Revenue) (Central Board of Excise and Customs) Notification No. 74/2017-CUSTOMS (N.T.) New Delhi, 31st July, 2017 9 Shravana, 1939 (SAKA) S.O. … (E).– In exercise of the powers conferred by sub-section (2) of section… Read More

Director General of Revenue appoints adjudicating authority under Customs Act

[To be published in the Gazette of India, Extraordinary, Part-II, section 3, sub-section (ii)] Government of India Ministry of Finance (Department of Revenue) Central Board of Excise and Customs Directorate of Revenue Intelligence Notification No. 6/2017-Customs (N.T./CAA/DRI) New Delhi, dated the 31st July, 2017 S.O. (E). - In pursuance of notification No. 60/2015-Customs (N.T.), published… Read More

CBDT Extends date for filing of Income Tax Returns upto 5th August 2017

Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi, 31st July, 2017 PRESS RELEASE Extension of date for filing of Income Tax Returns There are some complaints that the taxpayers are not being able to log on to the e-filing website of Income Tax Department or not being… Read More

GOI signed convention on Mutual Administrative Assistance in Tax matters

MINISTRY OF FINANCE (Department of Revenue) NOTIFICATION New Delhi, the 28th July, 2017 (INCOME TAX) S.O. 2382(E).—Whereas a Multilateral Competent Authority Agreement on the Exchange of Country-byCountry Reports was entered into by the Government of the Republic of India, being a party to the Convention on Mutual Administrative Assistance in Tax Matters, that was signed… Read More

Filing of online return of DVAT for Q1, 2017-18 extended till 17 Aug 2017

Filing of online return for first quarter of 2017-2018- extension of period thereof. In exercise of the powers conferred under Rule 49A of the Delhi Value Added Tax Rules, 2005, I, H.Rajesh Prasad, Commissioner, Value Added Tax, do hereby extend the last date of filing of online/hard copy of first quarter return for the year… Read More

CBDT releases notification on the treatment of income by HP electricity commission

MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 28th July, 2017 S.O. 2384(E).—In exercise of the powers conferred by clause (46) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies for the purposes of the said clause, the Himachal Pradesh Electricity… Read More

Govt. continues to impose Anti-dumping duty on imports of the “Polytetra fluoroethylene”

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (i)] GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) NOTIFICATION No. 36 /2017-Customs (ADD) New Delhi, the 28th July, 2017 G.S.R…. (E). - Whereas, the designated authority vide notification no.15/11/2016 DGAD , dated the 8th July, 2016 published in the… Read More

Govt. amends NOT No. 96/2008-Customs

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (i)] GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) Notification No. 68/2017-Customs New Delhi, 27 th July, 2017 G.S.R. (E).- In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962),… Read More

Clarification regarding exports under claim for drawback in the GST scenario:CBEC

Circular No. 32/2017 - Customs F. No. 609/64/2017-DBK Government of India Ministry of Finance, Department of Revenue Central Board of Excise & Customs *** New Delhi, dated 27th July, 2017 To, Principal Chief Commissioners / Principal Directors General, Chief Commissioners / Directors General, Principal Commissioners / Commissioners, all under CBEC Madam/Sir, Sub: Clarification… Read More

Central Govt. notifies Goods and services Tax Settlement of funds Rules, 2017

MINISTRY OF FINANCE (Department of Revenue) NOTIFICATION New Delhi, the 27th July, 2017 G.S.R. 964(E).—In exercise of the powers conferred by section 53 read with section 17 of the Central Goods and Services Tax Act, 2017 (12 of 2017), section 17 and 18 of the Integrated Goods and Services Tax Act, 2017 (13 of 2017)… Read More