News Update

IGI Airport Customs seizes US Dollars worth Rs 2.94 Crore from pax heading for DubaiA Basic Primer on GDPR and its Relevance to the Indian Context (See 'TOG INSIGHT' in 'Taxongo.com')CX - Internal records showed lesser receipt of base oil - no exercise undertaken to ascertain whether goods were diverted en-route, whether compensation claimed - CENVAT credit not deniable: CESTATReversal of ITC on common capital goods - some apprehensionsI-T - In absence of any yardstick or guideline to determine an expenditure as excessive payment, AO has no discretion to make disallowance: HCST - Late fee for delay in furnishing prescribed returns - Appellant has no ground to seek relief which is not available u/r 7C of STR, 1994: CESTAT5 UTs + 2 States to roll out e-Way Bill from May 25High Level Group constituted for faster expansion of health sectorGovt calls for preventive vigilance to check malfeasanceGST related Petitions should be efficaciously defended by authorized Commissioners only - no transfer/amendment of authorization without express approval of BoardGST - ITC abuse - father-son duo lands behind barsPrabhu releases Paper on Computer Software ExportsIrresponsible Litigation - Rip Van Winkleism Syndrome continues to afflict Union of India!!End Governor's Discretion Raj by undoing Constitutional BlunderI-T - When reasons recorded by AO for reassessment stand approved by JC, it cannot be said that provisions of Sec 151(2) were not fulfilled merely because file erroneously got placed before CIT who also recorded satisfaction: HCCus - Notification 50/2017 amended to increase BCD on Wheat from 20% to 30% - Omits entries pertaining to Shelled almonds and Protein ConcentratesCX - Expression in statute cannot be allowed to be circumscribed on an unfounded interpretation by lower authorities: CESTATGovt exercises emergency powers to increase tariff rate of BCD on Walnuts in shell from 30% to 100% and on Protein concentrates and textured protein substances from 30% to 40%ST - CBEC has clarified that notice for rejection of VCES-1 declaration should be issued within 30 days-notice issued after 1 years is clearly time barred: CESTAT
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