Substantial Amendments to Companies Act by Companies (Amendment) Act, 2017

Certain major changes have been brought in by the Companies Act through the Companies (Amendment) Act, 2017. These amendments will be effective from the dates notified for the same. Certain Rules have also been amended, effective from 26th Jan 2018. Continue reading

Posted in Regulatory |

25th GST Council Meeting – GST Rate Changes & Summary

The 25th GST Council Meeting was held at New Delhi on the 18th of January 2018. In addition to relaxation of GST rules and regulations, GST rates have also be reduced for various goods and services
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Posted in GST |

Steps to generate E- Way Bill on E- Way Bill Portal

Prerequisite for generating an e-way bill:

a) Registration on the EWB portal.

b) The Invoice/ Bill/ Challan related to the consignment of goods must be in hand.

c) If transport is by road – Transporter ID or the Vehicle number. Continue reading

Posted in GST |

ITAT Relief on Domestic Transfer Pricing

Bangalore ITAT in Texport Overseas P. Ltd. v. DCIT[1] has held that the amendment with respect to restriction in scope of Domestic Transfer Pricing (TP) by Finance Act, 2017 is deemed to be omitted from its inception.

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Posted in Transfer pricing |

CBDT Lays down process for intimating taxpayers & seeking response on proposed adjustments us 143(1)(a)(vi)

CBDT lays down process & scenario(s) for seeking response of taxpayers to proposed adjustments u/s 143(1)(a)(vi) for addition of income appearing in Form 26AS or Form 16 or 16A which is not included in computing income in ITR. Continue reading

Posted in Direct Tax |