Corporate Law Reporter - The Daily Journal

Exchange Rate of Foreign Currency relating to Imported and Export Goods Notified

Exchange Rate of Foreign Currency relating to Imported and Export Goods Notified In exercise of the powers conferred by Section 14 of the Customs Act, 1962 (52 of 1962), and in supersession of the notification of the Central Board of Excise and Customs(CBEC) No.70/2017-CUSTOMS (N.T.), dated 6th July, 2017, except as respects things done or… Read More

Govt. exempts levy of compensation cess on supply of second hand goods

MINISTRY OF FINANCE (Department of Revenue) NOTIFICATION New Delhi, the 20th July, 2017 No. 04/2017-Compensation Cess (Rate) G.S.R. 938(E).—In exercise of the powers conferred by sub-section (1) of section 11 of the Goods and Services Tax (Compensation to States) Act, 2017 ( 15 of 2017), read with sub-section (1) of section 11 of the Central… Read More

Shri Ramnath Kovind elected as President of India

MINISTRY OF LAW AND JUSTICE (Legislative Department) NOTIFICATION New Delhi, the 20th July, 2017 S.O. 2282(E).—In pursuance of the provisions of Section 12 of the Presidential and Vice-Presidential Elections Act, 1952 (31 of 1952), the following declaration containing the name of the person elected to the Office of the President of India is published for… Read More

CBDT rescinds 3 Income Tax notifications

MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 19th July, 2017 (INCOME TAX) S.O. 2259(E).—In exercise of the powers conferred under section 118 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes being satisfied that it is necessary in the Public interest to… Read More

Voluntary Winding up under Insolvency Bankruptcy Code

The Insolvency and Bankruptcy Board of India (“IBBI”) vide its notification dated 31 March 2017 has issued the Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process) Regulations, 2017 (“the Regulation”) and shall come into force on 1 April 2017. These regulations apply to the voluntary liquidation of Corporate persons under Section 59 of Chapter V… Read More

CBDT clarifies TDS to be deducted on amount paid or payable excluding GST

The Central Board of Direct Taxes hereby clarifies that wherever in terms of the agreement or contract between the payer and the payee, the component of 'GST on services' comprised in the amount payable to a resident is indicated separately, tax shall be deducted at source under Chapter XV II-B of the Act on the… Read More

CBDT amends Form for Eligible International transaction under Income-tax Rules

MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 18th July, 2017 INCOME-TAX G.S.R. 891(E).—In exercise of the powers conferred by section 295 read with sub-section (2) of section 92CB of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules… Read More

Cabinet approves Integrated Goods and Services Tax (Amendment) Bill, 2017

Cabinet approves Integrated Goods and Services Tax (Amendment) Bill, 2017 The Union Cabinet chaired by Prime Minister Shri Narendra Modi has given its ex-post facto approval for the promulgation of the Integrated Goods and Services Tax (Extension to Jammu & Kashmir) Ordinance, 2017 and replacement of the Ordinance by the Integrated Goods and Services Tax… Read More

Cabinet approves Central Goods and Services Tax (Amendment) Bill, 2017

Cabinet approves Central Goods and Services Tax (Amendment) Bill, 2017 The Union Cabinet chaired by Prime Minister Shri Narendra Modi has given its ex-post facto approval for the promulgation of the Central Goods and Services Tax (Extension to Jammu & Kashmir) Ordinance, 2017 and replacement of the Ordinance by the Central Goods and Services Tax… Read More

Cabinet approves alternative mechanism for creation and launch of a New ETF

Cabinet approves alternative mechanism for creation and launch of a New Exchange Traded Fund The Cabinet Committee on Economic Affairs, chaired by the Prime Minister Shri Narendra Modi has authorized the Alternative Mechanism on the following: i. To take decision for divestment through Exchange Traded Fund (ETF) out of all the listed CPSEs including CPSEs… Read More

CBEC rescinds certain Central Excise notifications

Central Government, on being satisfied that it is necessary in the public interest , hereby rescinds the notifications of the Government of India in the Ministry of Finance which are as follows Notification No. 56/2002- Central Excise, dated 14-11-2002; Notification No. 57/2002- Central Excise, dated 14-11-2002; Notification No.49/2003- Central Excise, dated 10-6-2003; Notification No. 50/2003- Central Excise, dated 10-6-2003; Notification… Read More

CBEC rescinds certain Central Excise (Non- Tariff) Notifications

Central Government, on being satisfied that it is necessary in the public interest, hereby rescinds Notification No. 29/2008- Central Excise (NT), dated 1-7- 2008, 30/2008- Central Excise (NT), dated 1-7- 2008, 10/2010- Central Excise (NT), dated 27-2- 2010, 11/2010- Central Excise (NT), dated 27-2- 2010, 17/2010- Central Excise (NT), dated 13-4- 2010 respectively. [TO BE… Read More

Finance Minister clarifies : Organized and unorganized sellers in Textile Sector not affected by GST

FM: Organized traders and unorganized sellers in Textile Sector have not been affected by the Goods and Services Tax (GST). In reply to a Starred Question in Rajya Sabha today, the Union Minister for Finance, Defence and Corporate Affairs, Shri Arun Jaitley said that the organized traders and unorganized sellers in Textile Sector have not been… Read More