Tax Updates:
1. GST council to debate tax on services, fitment of items on April 18-19http://gstsms.in/topic/3134
2. Cess applicable on CGST & IGST on vehicles, cold drinks, pan masala, tobacco, solid fuels made from coal, lignite etc& other specified supplies.
3. Refund Seized Money in New Currency Notes: HC to IT Dept. {Union of India & Anr. Vs. State of West Bengal & Ors. (Calcutta High Court)}
4. From July 1, 2017, all tax returns will have to mention the Aadhaar No. , as per Sec 139AA of Income Tax Act. If you have both PAN and Aadhaar, you need to link the two. If you fail to do so, your PAN no could become invalid.
5. The Govt. is considering scrapping Foreign Investment Promotion Board and considering doing away with prior government approval for investments in most sectors including single-brand retail.
6. RBI permits banks to invest up to 10% in REITs,