Statutory updates

Exemption from Registration for Inter-State Supplies of Handicraft Goods

The Central Government exempts persons making inter-State taxable supplies of handicraft goods from the requirement to obtain registration.

TDS on Interest on Deposits under Capital Gains Accounts Scheme

Banks must deduct and report tax deducted at source on interest earned under the Capital Gains Accounts Scheme, 1988 using the permanent account number of the deceased depositor…

Rescheduling of Refresher Course for Directly Recruited APFCs

Pandit Deendayal Upadhyaya National Academy of Social Security reschedules the training programme on the refresher course for directly recruited Assistant Provident Fund…

30/2017-Central Tax : Seeks to extend the time limit for filing of GSTR-1, GSTR-2 and GSTR-3.

Extension of Time Limit for Filing GSTR-6 for July 2017

The Central Board of Excise and Customs extends the time limit for furnishing the return by an Input Service Distributor for July 2017.

21st GST Council Meeting

Clarifications on Insurance Repositories and E-Commerce Guidelines

The Authority clarifies provisions regarding electronic insurance accounts, electronic signatures, and KYC compliance for insurers, intermediaries, and insurance repositories.

29/2017-Central Tax : Seeks to extend due dates for furnishing details/Returns for the months of July, 2017 and August, 2017.

Waive Late Fee for FORM GSTR-3B for July 2017

The Central Government waives the late fee payable under section 47 of the Act.

System based reconciliation for FORM GSTR-1 and FORM GSTR-2 with FORM GSTR-3B

Registered persons must reconcile information furnished in FORM GSTR-1 and FORM GSTR-2 with FORM GSTR-3B through the common portal.

Clarification on Aadhaar based e-KYC

Life and general insurers must use the Aadhaar e-KYC authentication facility for client identification and authentication.

Issuance, Listing and Trading of Debt Securities in IFSC

Recognized stock exchanges and clearing corporations in International Financial Services Centres must evolve frameworks for issuing and listing debt securities.

Compliance with Lok Adalat and MACT Proceedings and Policyholder Servicing

All general insurance companies must attend court cases and participate in Lok Adalats.

SEBI IFSC Guidelines 2015 Amendments for Debt Securities

The Securities and Exchange Board of India amends the Securities and Exchange Board of India (International Financial Services Centres) Guidelines, 2015 to streamline operations…

27 /2017-Central Tax : Seeks to further amend the CGST Rules, 2017

India-Vietnam Tax Treaty Protocol on Information Exchange and Tax Collection

The Central Government notifies the protocol amending the agreement between India and Viet Nam for the avoidance of double taxation and the prevention of fiscal evasion with…

Specification of Gallantry Awards under Section 10(18)(i)

The Central Government specifies the Asadharan Suraksha Seva Praman Patra as a gallantry award for the purpose of section 10 of the Income-tax Act, 1961.

Gujarat Electricity Regulatory Commission Specified Income Tax Exemption

The Central Government notifies specified income of the Gujarat Electricity Regulatory Commission for income tax exemption under clause (46) of section 10 of the Income-tax Act…