News Update

Sales Tax - 'sale price' apart from including consideration for sale, also includes value of any discount or rebate offered, which is to be deducted from sale price: SCGST - GoM on IT to review progress made by GSTN so far on SaturdayRailways inducts two digitally enabled LocomotivesADB loans USD 84 mn for improving water supply in Bhagalpur & GayaIAS Association delegation meets Dr Jitendra SinghFodder scam - Laloo pleads for bail; Jharkhand HC says NOIES officers to get new houses soonIndia successfully testifires N-capable ballistic missile ‘Dhanush’ from Naval Ship off Orissa coastIndian, Canadian PMs resolve to expedite BIPA & CEPA pactsCBDT notifies India-Kenya DTAA (See 'http://www.taxindiainternational.com/')GST on 'Commission' Received in Convertible Foreign Exchange – Part-I (See 'TOG Insight' in Taxongo.com)Electoral Bond Scheme to open on Mar 1 for 10 daysNDMA organises workshop on action plan to deal with heat waveRailways organises suppliers' Samvad; Digital Challan launchedChanges in the business connection provision (See 'Edit' in 'taxindiainternational.com')I-T - Department has no right to re-examine entire issue from a different angle, if returned income of assessee is accepted barring minor adjustment of expenditure claim: HCGST Council meeting - pointers from Industry for considerationCus - CBLR, 2013 - Prohibition - Even orders passed under Regulation 23 are appealable u/s 129A of CA, 1962: HCCertain grey areas in Taxability of 'Bill to - Ship to' TransactionsST - Refund - Banking services and technical inspection & certification services are co-related with export; are Input services: HCGovt notifies Electoral Bonds; Political parties can encash bonds only through bankBig relief for Indian students joining MBBS abroad; Govt grants them exemption from qualifying NEETFinance Commission invites inputs for widening of tax baseCanada to aid India in research effortsCivil Services Day - Four priority programmes listed for PM's AwardsI-T - When assessee diverted sum received for procuring import licences for purchase of shares, such advance is to be construed as deemed dividend u/s 2(22)(e): HCI-T - If Revenue initiates penalty proceedings after six months of receipt of adjudicatory order, such proceeding is beyond period of limitation imposed u/s 275: HCGST Council to meet on March 10 through video conferencing; likely to approve new GSTR design and many amendment in GST lawsPNB fraud - ED & Income Tax continue to seize luxury vehicles & assets of Nirav Modi & ChoksiBank Frauds - Taxpayers tired to pay for 'New Civilisation'!I-T - It is clear case of barking up wrong tree if Revenue records show no tax arrears against assessee: HCIntermediary services to foreign parties-inter-state or intra-state supply?
Untitled Document
Issue Date
Subject
Notification No
17-Dec-2016
For deposit of specified bank notes by the District Co-operative Central Bank as per RBI Directions
24-Nov-2016
Use of old notes - Deadline extended from Nov 24th to Dec 15th for certain exempted category
24-Nov-2016
Demonetization - Co-operative bank to be read as only "Urban Co-operative Banks and State Co-operative Banks"
21-Nov-2016
Govt notifies section 229 of FA, 2016 relating to FEMA for recovery of  penalty arrears
21-Nov-2016

Withdrawal of Legal Tender Character of the existing Bank Notes in the denominations of Rs. 500/- and Rs. 1000/- ( Updated as on November 21, 2016 )

Frequently Asked Questions

18-Nov-2016
Withdrawal of Rs 2.5 lakh allowed for marriage purpose
17-Nov-2016
Corrigendum of S.O. 3408(E) dated 8th November, 2016
17-Nov-2016
Cash withdrawal limit from bank account specified in case of farmers & wedding expenses
17-Nov-2016
Exchange limit for demonetized notes reduced to Rs. 2000; current account withdrawal limit made applicable to traders registered with APAC or mandis
14-Nov-2016
Promotion of payments through cards and digital means
14-Nov-2016

Govt restricts cash withdrawal to Rs. 50,000 a week, for current accounts in operation during last three months or more

14-Nov-2016

Govt extends time period for use of demonitized notes in case of specified transactions till 24.11.2016

13-Nov-2016
Corrigendum to S.O. 3408(E) dated November 8, 2016
13-Nov-2016
Increase in Withdrawal limit from ATMs & Exchange of money from banks
11-Nov-2016
Extension of date of specified notes for consideration as legal tender
10-Nov-2016
Relaxation for making payment of Tax and Utility bills
09-Nov-2016
Corrigendum to S.O. 3407 (E), dated November 8, 2016
09-Nov-2016
Corrigendum to S.O. 3409(E), dated November 8, 2016
09-Nov-2016

Govt prescribes use of demonitized notes for more transactions

08-Nov-2016
Denomination of 2000 rupee note
08-Nov-2016

Exemptions in respect of certain transactions where legal tender still has effect

08-Nov-2016

Exchange of Rs 500 and Rs 1000 rupee note from banks & ATMs