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No Hike in Passenger Fare

Budget - Dated:- 25-2-2016 - 65,000 Additional Berths and 17,000 Bio Toilets to be Installed Operations Audit to Improve Punctuality of trains Proposed Wi Fi Facilities in 400 more Stations Stations to be Developed Under PPP Mode Award of Civil Contracts for Dedicated Freight Corridor to be Over by the end of this Financial Year Capacity of E-Ticketing System to be Enhanced Increased Quota of Lower Berth for Senior Citizens and Women 820 Robs / Rubs constructed Operating Ratio to Increase from 9 .....

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ity, higher average speed of freight trains, semi high speed trains running along the golden quadrilateral, zero direct discharge of human waste by the year 2020. He said Cabinet approval has been received for re-development of stations under PPP mode. Shri Suresh Prabhu said the Indian Railways budget proposes to overcome challenges by Reorganizing Restructuring and Rejuvenating Indian Railways with the Slogan Chalo, Milkar Kuch Naya Karen . The strategy for this will have three pillars i.e. Na .....

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ns audit from Ghaziabad to Mughalsarai section will be introduced. The Indian Railways proposes to introduce 1,780 Automatic Ticket Vending Machines all over the country with mobile apps and GoIndia smartcard for cashless purchase of UTS and PRS tickets. The capacity of e-ticketing system will be enhanced from 2,000 tickets per minute to 7,200 tickets per minute to support 1,20,000 concurrent users as against 40,000 earlier. 400 more stations will be provided with Wi Fi facilities. As a part of .....

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/ Rail Under Bridges (RUB) will be completed during the current financial year and work is going on in additional 1350 of them. Referring to the progress of Dedicated Freight Corridor Project the Railway Minister said that almost all contracts for civil engineering works will be awarded by the end of this financial year. He said ₹ 24,000 crore worth contracts were awarded since November 2014 as against ₹ 13,000 crore contracts awarded during the last six years. Shri Prabhu said Railw .....

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xt month, while the other two bridges will be completed by 2016-17. In North East , Mizoram and Manipur will shortly come on BG map of the country with commissioning of the Kathakal-Bhairabi and Arunachal-Jiribam Gauge conversion projects. Giving the progress card of port connectivity projects the Minister informed that Tuna Port connectivity project has been commissioned and rail connectivity projects to ports of Jaigarh, Dighi, Rewas and Paradip are under implementation. He said implementation .....

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Revenue generation of ₹ 1,84,820 crore for 2016-17. He said during 2015-16 investment would be close to double of average of previous five years. Shri Suresh Prabhu said Railways would be able to achieve annualized savings of ₹ 3000 crore in the energy sector during the next financial year itself, a year earlier than announced. He said this could be achieved by procuring power directly at competitive rates. The Railway Minister said social media will be used as a tool to bring in tra .....

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above with onboard entertainment and Wi Fi etc., unreserved Deen Dayalu coaches with portable water and higher number of mobile charging points and introduction of AC and non AC double decker trains on busy routes with the potential to increase carrying capacity by almost 40%. Sale of tickets through hand held terminals; e- ticketing facility to foreign debit/credit cards; bar coded tickets, expansion of Vikalp - train on demand to provide choice of accommodation in specific trains to wait-list .....

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ding to help the old and disabled passenger. The existing services for enabling passengers to book battery operated cars, porter services, etc. on a paid basis in addition to the existing pick up and drop, and wheel chair services will be strengthened. All stations under redevelopment will be accessible for Divyang. There will be at least one Divyang friendly toilet at each platform in A1 class stations during the next financial year and availability of wheelchairs in sufficient numbers at these .....

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A system. It is also proposed to integrate all facilities into two mobile apps dealing with ticketing issues and for receipt and redressal of complaints and suggestions. With a view to improve customer interface information boards in trains enumerating the on-board services and GPS based digital displays will be installed inside coaches to provide real time information regarding upcoming halts. Work is underway for the installation of a high-tech centralized network of 20,000 screens across 2000 .....

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Gaya, Haridwar, Mathura, Nagapattinam, Nanded, Nasik, Pali, Parasnath, Puri, Tirupati, Vailankanni, Varanasi and Vasco. Aastha circuit trains will be introduced to connect important pilgrim centres. He said optional travel insurance for rail journeys at the time of booking and clean my coach through sms will also be introduced in due course. High speed passenger corridor from Ahmedabad to Mumbai will be developed with the financial assistance from Government of Japan. FM Radio Stations will be i .....

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Notification: CGST Rate Schedule u/s 9(1) - notifying rates of CGST @ 2.5%, 6%, 9%, 14%, 1.5% and 0.125% on Supply of Goods

Forum: REGISTRETION

Forum: On what Value tax to be deducted at source (TDS)

Highlight: IGST Rate Schedule u/s 5(1) - notifying rates of IGST @ 5%, 12%, 18%, 28%, 3% and 0.25% on supply of goods. - Notification no. 1/2017 as amended vide notification dated 22-9-2017

Notification: IGST Rate Schedule u/s 5(1) - notifying rates of IGST @ 5%, 12%, 18%, 28%, 3% and 0.25% on supply of goods.

Highlight: National Advisory Committee on Accounting Standards - Tenure of the NACAS extended from one year to two years

Notification: National Advisory Committee on Accounting Standards

Forum: Duty Drawback- Urgent

Notification: Central Government appoints the 20th September, 2017 as the date on which proviso to clause (87) of section 2 of the Companies Act 2013, shall come into force - "subsidiary company" or "subsidiary"

Highlight: Restriction on number of layers for certain classes of holding companies - More than two layers of subsidiaries not allowed subject to certain exceptions.

Forum: GST on RCM on rent in a unregistered state

Forum: COMPOSITION SCHEME

Forum: Input Tax Credit - Reg

Article: Websites of Government Departments need lot of improvement. We are noticing detoriations in them for example, case of website of ITAT.

Highlight: Levy of additions tax u/s 115O on distribution of dividend - shares of its profits declared as distributable among the shareholders is not impressed with the character of the profit from which it reaches the hands of the shareholder - not to be bifurcated as agriculture and non-agriculture dividend - SC

Highlight: Rate of GST on old and scrap buses - 28% or 18% - at such initial tender process initiated by the Respondents-KSRTC, the present petitions filed by the petitioners are premature and misconceived and do not require any interference by this Court at this stage. - HC

Highlight: In view of amendment made u/s 132A of the Income Tax Act, 1961 by Finance Act of 2017, the 'reason to believe' or 'reason to suspect', as the case may be, shall not be disclosed to any person or any authority or the Appellate Tribunal, SC dismissed the appeal of the assessee

Highlight: Validity of Assessment Order - period of limitation u/s 153 (2A) is applicable even if the entire order was not set aside but matter was remanded back for for limited aspects with directions - HC

News: Note ban was a shake-up, achieved its main objectives

Notification: Amendments in the notification No.5/2017- Integrated Tax (Rate) dated the 28th June, 2017.

Highlight: Levying interest u/s 234C - interest is to be charged on the returned income and not on assessed income.

Highlight: Accrual of income - sale of right to develop and sell incentive FSI under LOI - till the conditions of LOI are fulfilled transfer is not complete and income does not accrue to the assessee

Highlight: TPA - determination of ALP - TP adjustment by applying Bright Line Test (BLT) is not sustainable on protective basis having no statutory mandate.

Highlight: Safeguard Duty - Advance License Scheme - as there is no exemption from safeguard duty leviable under Section 8C, which is imposed on the goods imported from China, the importer has to pay safeguard duty

Highlight: Manufacture - process of cutting of waste plastic container - Such plastic containers before and after cutting are nothing but waste / scrap - Not a manufacturing activity as no new product emerges.

News: NITI Aayog and Govt. of Assam organizes workshop on health sector reforms in Guwahati; launches SATH- Sustainable Action for Transforming Human Capital

Notification: Seeks to amend notification no. 5/2017- central tax(rate) dated 28.06.2017 to give effect to gst council decisions regarding restriction of refund on corduroy fabrics

Notification: Seeks to amend notification no. 2/2017- central tax(rate) dated 28.06.2017 to give effect to gst council decisions regarding gst exemptions

Notification: seeks to exempt Skimmed milk powder, or concentrated milk

Notification: Seeks to amend notification no. 2/2017- integrated tax(rate) dated 28.06.2017 to give effect to GST council decisions regarding GST exemptions.

Notification: Seeks to amend notification no. 1/2017- central tax(rate) dated 28.06.2017 to give effect to gst council decisions regarding gst rates

Notification: Seeks to amend notification no. 1/2017- integrated tax(rate) dated 28.06.2017 to give effect to gst council decisions regarding gst rates.

News: Notification Issued For GST Actionable Claim On Branded Food Products

Highlight: Classification printed computer stationary/manifold Business Forms - to be classified under Chapter Heading 4820.00 or under Chapter Heading 4901.90 - items like A4 sheets, advertisement and job card to be classified under Chapter 49

Article: RCM Applicability to persons not liable to get registered us 23(1)

Article: Credit of unsold stock [Section 140(3)] - Actual Credit as well as Notional Credit - Part-I - GST Transitional provisions

News: GST Refund - Blockage of Working Capital of Exporters - earlier also there was a normal blockage of funds for a period of 5-6 months at least

News: Clarification about Transition Credit - ₹ 1.27 lakh crore of credit of Central Excise and Service Tax was lying as closing balance as on 30th June, 2017 - claim of credit of ₹ 65,000 crore is not unexpected

Article: 20 Things You must know about E Way Bills in GST Law

Article: MISTAKES IN DRAFTING

Highlight: The Customs and Central Excise Duties Drawback Rules, 2017 and All Industry Rates (AIRs) of Drawback related changes -reg. - Circular

Highlight: The definition of "subsidiary company" or "subsidiary" u/s 2(87) of the Companies Act, 2013 shall come into force w.e.f. 20-9-2017

Highlight: Central Government notified the All Industry Rates of Duty Drawback Schedule w.e.f. 1.10.2017 - Notification

Notification: All Industry Rates of Duty Drawback Schedule w.e.f. 1.10.2017

Circular: Investment by Foreign Portfolio Investors in Corporate Debt Securities Review

Notification: Exemptions on supply of services under UTGST Act

Notification: Rates for supply of services under UTGST Act

Notification: Exemptions on supply of services under IGST Act

Notification: Rates for supply of services under IGST Act

Notification: List of Exempted supply of services under the CGST Act



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