NICAI Updates:
1. A unique PIN CODE 560500 has been allotted to Centralized Processing Center (CPC), Income Tax Department located in Bangalore by the Department of Post.
2. No denial of sec. 10(37) exemption if compensation amount of agricultural land was settled after negotiation: Supreme Court [2017] 80/84/[2017] 391 ITR 178.
3. Information to be furnished electronically in GST INS-01 prior to movement of goods if value exceeds Rs. 50,000, whether within or outside state.
4. Last date for DVAT Tax payment 21/04/2017 and Return 25/04/2017.
5. Importers liable to pay ST for importing services of transportation of goods by a vessel w.e.f April 23 ,2017. NOTIFICATION No. 15/2017-Service Tax.
6. M&A provisions for foreign company would be effective from April 13, 2017: MCA NOTIFICATION [F.NO.1/37/2013 CL.V], DATED 13-4-2017.