News Update

GST Council extends last date for migrated taxpayers to surrender registration upto March 31, 2018 + reduces penalty for late filing of GSTRs + decides to amend e-Way Bill rulesGST Council reduces tax rate from 28% to 18% on used motor vehicles + from 18% to 12% on sugar boiled confectionary, drinking water packed in 20 litre bottles, bio-diesel and bio-pesticides + from 18% to 5% on components required for satellite launch + LPG supplied for domestic consumption + from 12% to 5% on velvet fabric + from 3% to 0.25% on diamonds & precious stonesGST Council decides to exempt RTI-related services + reduces rate on construction of metro projects to 12% + 5% without ITC on housekeeping service through ECO + 5% rate on tailoring service + 18% rate now on entry ticket to water parks or theme parksGST on Services - ITC allowed to tour operators in same line of business + hikes exemption limit to Rs 7500 per month for Resident Welfare Members + exempts legal services provided to Governments & Govt entities + Rate reduced on transportation of petroleum products to 5% + Rate on job work services to leather and footwear reduced to 5% + exempts transport service provided to educational institutionsGST Council shifts focus on anti-evasion measures; Tax rates reduced on 29 goods & 53 ServicesGST Council decides to divide Rs 35000 Crore IGST collections between Centre & States, provisionally17 lakh Composition taxpayers paid only about Rs 307 Crore; Council expresses disappointmentLegislative changes - Council receives demand to introduce Sec 9(4) only for Composition taxpayersGST Council accepts Fitment Committee recommendations to reduce rates on 29 goods + 53 services; New rates to come into force from Jan 25GST Council accepts Sarna Committee report on handicraft items; Fitment Committee to decide tariff for 40 such itemsGST Council finally decides to stop at uploading of Sale Invoices in GSTR-3B till alternative is worked out and approved at next meeting through video conferencing + e-Way Bill - 15 States to roll out intra-State system on Feb 1, 2018SC terms States’ ban on Padmavat illegal after certification by Central BoardFinancial Year should roll out on Jan 1 rather than on April 1: Sushil ModiHyderabad DRI seizes Saudi & Omni Riyals worth Rs 1 Crore from pax heading for DubaiBihar CM wants Jaitley to hike Sec 80C limit to Sec 2 lakh + general exemption limit to Rs 3 lakhCentre to release Rs 1000 Cr more to AP Govt for its Amaravati projectTripura to go to polls on Feb 18; Nagaland + Meghalaya on Fe 27: Election CommissionGST Council is quite sensitive to exporters' problems, says Vice PresidentJaitley holds Pre-Budget talks with State FMs before Council MeetCBEC carries out more amendments in AEO ProgrammeSC declines to entertain petition seeking stay on media coverage of Apex Court Judges's rowADD on Metronidazole imported from PR China - Notfn 40/2012 rescinded - refund to be granted to importers who paid ADD on or after 29.08.2017 but did not pass on burden - Delhi HC in Aarti Drugs 2017-TIOL-1775-HC-DEL-Cus refersRebooting of GST - A TIOL word of caution for the CouncilST - Petitioner cannot challenge one part of order-in-original before High Court and another portion before CESTAT: HCI-T - Fees charged by trade regulatory body for registration of domain names are not taxable as 'commercial receipts': HCCX - CENVAT credit is admissible to extent insurance cover relates to employees for whom it is mandatory to provide such cover: CESTATI-T - Fees paid by cellular companies for acquring 3G band license, if capitalized as 'intangible asset', will be eligible for depreciation: ITATGST for 'Outdoor catering' should be reduced; No GST to be levied on Sale of Motorcars to employees after useGovt streamlines hotel classification guidelinesGovt hikes retirement age of Ayush doctors & civilian docs of Armed Forces to 65Direct tax collections peak at Rs 6.9 lakh cr after refund of Rs 1.2 lakh cr
Untitled Document
EXPERT PANEL REPORTS

MAT Report

Relevant part of MAT - Ind AS Committee Report dated 17th June, 2017 containing recommendations regarding amendment to provisions of section 115JB of Income - tax Act, 1961 in respect of Ind AS Compliant Companies (June 17, 2017)

Computation of Book Profit for MAT (March 18, 2016)

Computation of Book Profit for MAT (July 23, 2016)

Company Law Report

Company Law Report

First Batch of Recommendations

Justice Shah Report

MAT on FIIs/FPIs

Press Release

Office Memo

Bankruptcy Law

T K Viswanathan report Summary Parliamentary Panel Report

Acharya Committee Report

Government constitutes a Committee to examine desirability and feasibility of having a new Financial Year

Review Report

Report on framework for Foreign Currency Borrowing

Finance Commission

15th Finance Commission constituted

Fourteenth Finance Commission

Thirteenth Finance Commission

Twelfth Finance Commission

FRBM Review Committee Report

Volume 1

Volume 2

Volume 3

Volume 4

Revised Notice inviting comments on FRBM committee report

Shome Panel Report

On Tax Administration Reforms

Standing Council Report IFS

Report of the Standing Council on International Competitiveness of the Indian financial sector, Volume 1

Dr. Saumitra Chaudhury report

Auto Fuel Vision 2025

Pulses Report

Incentivising Pulses Production Through Minimum Support Price (MSP) and Related Policies

RBI Report

On Financial Institutions

Bhardwaj Committee on GTA

Report

PPT on GTA

Kelkar Committee

Report on Hydrocarbon Sector FRBM Interim Report  

Roadmap for fiscal consolidation

Report on Tax Reform

A P Shah Panel

Report on Privacy

Rangachary Report

Second to Sixth Report on Safe Harbour

Raghuram Committee

Report on Development Index

Rangarajan Committee

Report on Petroleum Products

Dr V Krishnamurthy panel

Report on synergy in Energy

D Swarup Committee Report

Financial Well-Being Report of committee on investor awareness and protection

Standing Committee

59th Report

58th Report

Shome on GAAR

Final Report

IFC Report

Full text of report on ICT

IMF Report

Services sector in India Forex Reserves

Justice Verma Committee Report

Amendments to Criminal Law

Standing Committee

Report on Companies Bill, 2012

Rangarajan Report

Prime Minister's Economic Advisory Committee Report

Rangarajan Panel

Report on Production Sharing Contract Mechanism in Petroleum Industry

Dr Lahiri Committee

Report on tax regime

Panel on Securities Scam

Action Taken Report Securities Act 2006

External Debt Report

MoF report 2005

E-Commerce

Report of the Committee on Taxation of E-Commerce

Enforcement Of Security Bill

The Enforcement of Security Interest and Recovery of Debts Laws and Miscellaneous Provisions (Amendment) Bill, 2016

Mankad Panel

Notification Report

Technology Advisory Group for Unique Projects

Nandan Nilekani Report

PAC

Report on Interest on Refunds

Paper on Tax Accounting Standards

CBDT Report

FSLRC Report

Vol 1

Vol 2

CAG Report

Report 8

Report 9

Report 10

Report 11

Law Commission Report

Report 272

Report 247

Report 248

Report 249

Watal Committee Report

Digital Payments