News Update

I-T - Merely mentioning income in P&L a/c and in Balance sheet does not absolve assessee from disclosing such income in returns: HCE-Way Bill - Clarification sought on movement of goods from dry to sea portsGST exemption granted to skill development, start-ups and tourismGST - Tax sops only through budgetary support: MoSRailways to go for GPS-based mapping of assetsParliament passes Payment of Gratuity Amendment Bill, 2018Govt to promote 12 Services as 'Champion Services' for exportsGST - Inclusion of Petrol and diesel under GST – It is for GST council to take a call - Petition dismissed: HCAadhaar chief to make detailed presentation before Apex CourtEnforcement Directorate raids its own officers in Ponzi Scam case in ChandigarhIf meat of the matter is ignored, justice is a distant dream (See 'TOG Insight' in duty imposed on imports of ‘Resorcinol’ from China PR & Japan and on ‘Monoisopropylamine’ from China PRSC says NO to removal of Bombay HC stay on Reliance Communication assets saleGST - Data Analytics turning out to be most potent anti-evasion tool!EU digital economy taxation proposal (See 'TII Edit')Sops for N-E Industrial Development capped at Rs 200 Cr per unitNational Health Mission - Rs 85200 Cr budgetary support till 2020I-T - Merely because a delinquent has managed to escape punishment, will not safeguard other similarly-placed wrong-doers from prosecution or penalty: ITATSSO - One Establishment, Two registrations, many issuesCX - Without a re-classification for assessment, there is no scope for denying CENVAT credit on inputs that find use in manufacture: CESTATUnion Cabinet gives nod to Rs 3000 Crore N-E Industrial Development Scheme + amendment to India-Qatar DTAA + amendment in Surrogacy Bill, 2016 + continuation of National Health Mission
GSTN-related challenges - Sushil Modi to head Ministerial Panel; RS to head Panel of Exports

By TIOL News Service

NEW DELHI, SEPT 12, 2017: AS a follow-up action against the decisions taken at the 21st meeting of the GST Council, the Union Finance Minister, Mr Arun Jaitley, today constituted a Group of Ministers and a Committee on Exports.

The Group of Ministers (GoM) has been constituted under the convenorship of the Deputy Chief Minister of Bihar, Mr Sushil Kumar Modi, in order to monitor and resolve the IT challenges faced in the implementation of GST. The Members of the GoM are Mr Amar Agarwal, Minister for Commercial Taxes, Government of Chhatisgarh; Mr Krishna Byregowda, Minister for Agriculture, Government of Karnataka; Dr. T.M. Thomas Isaac, Finance Minister, Government of Kerala and Mr Etela Rajendar, Finance Minister, Government of Telengana. The GoM will be assisted in its work by the Chairman, Goods and Services Tax Network (GSTN) and the Chief Executive Officer, GSTN.

The Committee on Exports has been constituted under the convenorship of the Revenue Secretary to look at the issues of export sector and to recommend to the GST Council suitable strategy for helping the export sector in the post-GST scenario. This Committee consists of the Chairperson, CBEC; Member (Customs), CBEC; Director General, DGFT; Addional Secretary, GST Council; Director General, DG Export Promotion from the Central Government and Commissioners of Commercial Taxes from the States of Gujarat, Maharashtra, Karnataka, Uttar Pradesh and West Bengal.