TAX UPDATES
Dated May 3, 2017
2. GST Migration for existing taxpayers has been temporarily discontinued by GSTN w.e.f. 1st May 2017.
3. About 900,000 registered companies do not file annual returns and are potential sources of money laundering. Govt. pitched for the country’s top anti-financial crime agency to be used “expeditiously” against tax cheats.
4. No need for Traders dealing only in petrol, diesel & other exempt or zero-rated goods to register under GST. Register if deal in other goods also.
4. No need for Traders dealing only in petrol, diesel & other exempt or zero-rated goods to register under GST. Register if deal in other goods also.
5. Round-the-clock presence of Central Excise officers in the cigarette factories is not mandatory but directory. Circular No. 1055/04/2017-CX dated 1st May, 2017.
6. RBI has issued Guidelines on Merchant Acquisition for Card Transactions. Co-operative banks have been permitted to install both onsite/offsite ATM networks and can issue debit cards.
7. SEBI has issued a Consultation Paper on permitting Category III Alternative Investment Funds (AIFs) in the commodity derivatives market.
Thanx & Regard
Neeraj Choudhary
M.no- 9711155069
Email-nrjchoudhary3@gmail.com