E India CA

Professional Updates for Chartered Accountants

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Decision taken at the 17th Meeting of GST Council held on 18th June, 2017

GST Council categorically decided to implement GST from 1st July. There will be a special launch of GST at Vigyan Bhawan, New Delhi on the mid-night of 30th June and 1st July ( as already shared by me few days back, now officially announced by FM). *Now it's certain that roll out date of #GST won't be postponed from 1st July* but ...

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No VAT on items sold at discount: Consumers’ body

NEW DELHI: The National Consumer Disputes Redressal Commission has held that shops selling goods at 40% discount cannot charge VAT or any other duty on the discounted price. It said that the rebate was on the MRP, which includes all taxes and cess as per SECTION 2(d) of Consumer Goods Act.The NCDRC order came last month after state f...

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Cut in VAT makes cell phones cheaper in Telangana

Good news for phone users. The prices of cell phones are set to come down in Telangana, as the VAT on them has been reduced from 14.5 per cent to 5 per cent. The State Legislative Assembly on Wednesday adopted the Value Added Tax (VAT) Amendment Bill, seeking to reduce VAT on cell phones. The bill was introduced by Minister T Sriniva...

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Indirect Tax Ombudsmen to Address Taxpayers’ Concerns

The Indirect Tax Ombudsmen (ITOM) will address concerns of tax payers through trade and industry associations across the country for early compliance, an official statement said on Friday. "A decision to hold meetings with trade and industry associations in the respective jurisdiction of the ombudsmen across the country was taken at...

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Moving back to a regressive tax system

The Swachh Bharat cess imposed by the Narendra Modi government is part of a continuum of moves that is making the Indian tax system even more regressive. Let us rewind to 1991. Socialist India had one of the most regressive tax regimes in the world. Four out of every five rupees collected as tax by the government came from indirect ...

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DVAT – Online Form Delhi Sugam-2 (DS2) before each vehicle entry

GOVERNMENT OF NATIONAL CAPITAL TERRITORY OF DELHI DEPARTMENT OF TRADE & TAXES VYAPAR BHAWAN: I.P. ESTATE: NEW DELHI -110 002  No. F.7(433)/Policy-II/VAT/2012/PF/714-721  Dated: 10/09/2015  CIRCULAR No. 25 of  2015-16   Department of Trade and Taxes, Government of National Capital Territory of Delhi has vide notificati...

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Govt to seek cabinet’s approval for amendments to GST Bill

The government is ready with amendments to the Constitution (122nd Amendment) Bill on Goods and Service Tax (GST) incorporating the suggestions of a Rajya Sabha select panel, which endorsed most of the clauses in the Bill verbatim and a few with some changes. Sources said the finance ministry will soon seek cabinet approval for maki...

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Highlights of Report on the GST Bill by Select Panel of Rajya Sabha

With the first day’s proceeding of the Monsoon session of the Parliament getting distressed, the Select Panel of the Rajya Sabha had submitted its Report on the much awaited Constitution (122nd Amendment) Bill, 2014 on GST (“122nd CAB” or“GST Bill”) on Wednesday, July 22, 2015 in the Rajya Sabha amid Opposition furore over...