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TMI Short Notes on various issues

 

  1. EXCISE
  2. AMENDMENT IN THE FOURTH SCHEDULE
  3. Retrospective amendment in Chapter 27 of the Fourth Schedule to the Central Excise Act, 1944
  4. Amendment in Chapter 27 of the Fourth Schedule to the Central Excise Act, 1944
  5. IMPOSITION OF AGRICULTURE INFRASTRUCTURE AND DEVELOPMENT CESS (AIDC) ON PETROL AND DIESEL
  6. CHANGE IN EFFECTIVE RATE OF BASIC EXCISE DUTY AND SPECIAL ADDITIONAL EXCISE DUTY ON PETROL AND DIESEL [to be effective from 02.02.2021]
  7. EXEMPTIONS FOR M-15, E-20 AND OTHER BLENDED FUELS
  8. Amendments in the Schedule VII of the Finance Act 2001 (NCCD Schedule)
  9. Goods and Service Tax
  10. AMENDMENTS IN THE CGST ACT, 2017
  11. AMENDMENTS IN THE IGST ACT, 2017
  12. Retrospective Amendments of GST rate notifications
  13. AMENDMENTS IN THE Goods and Services Tax (Compensation to States) ACT, 2017:
  14. AMENDMENTS IN THE UTGST ACT 2017:
  15. AMENDMENTS IN THE IGST ACT 2017:
  16. AMENDMENTS IN THE CGST ACT 2017:
  17. EXCISE AMENDMENT IN THE SEVENTH SCHEDULE TO THE FINANCE ACT, 2001* [Clause [145] of the Finance Bill. 2020]:
  18. Other Miscellaneous changes pertaining to Anti-Dumping Duty/Countervailing Duty
  19. Exemption from Social Welfare Surcharge hitherto available on certain items falling chapter 84, 85 and 90, is being withdrawn. Accordingly, notification No 11/2018-Customs dated 02.02.2018 is being amended to, -
  20. Social Welfare Surcharge is being exempted on following items.
  21. OTHER CHANGES (INCLUDING CERTAIN CLARIFICATIONS' TECHNICAL CHANGES)
  22. IMPOSITION OF HEALTH CESS ON IMPORT OF CERTAIN ITEMS
  23. Customs duty exemptions which have been granted through certain other stand-alone notifications have also been reviewed. The following notifications, which have ceased to be relevant, are being withdrawn:
  24. Review of concessional rates of BCD prescribed in notification no. 50/2017 - Customs dated 30.62017: The BCD exemption hitherto available on certain goods are being withdrawn by omitting following entries of notification No. 50/2017-Customs dated 30.6.2017.
  25. OTHER PROPOSALS INVOLVING CHANGES IN BASIC CUSTOMS DUTY RATES IN NOTIFICATIONS
  26. AMENDMENTS IN THE FIRST SCHEDULE TO THE CUSTOMS TARIFF ACT, 1975
  27. AMENDMENTS IN THE CUSTOMS TARIFF ACT 1975
  28. AMENDMENTS IN THE CUSTOMS ACT 1962
  29. Amendment in the provisions of Act relating to verification of the return of income and appearance of authorized representative.
  30. Rationalisation of the provisions of section 49 and clause (42A) of section 2 of the Act in respect of segregated portfolios.
  31. Rationalisation of provision relating to Form 26AS
  32. Rationalisation of provisions relating to tax audit in certain cases.
  33. Expanding the eligibility criteria for appointment of member of Adjudicating Authority under the Prohibition of Benami Property Transaction Act, 1988.
  34. Filing of statement of donation by donee to cross-check claim of donation by donor
  35. Rationalising the process of registration of trusts, institutions, funds, university, hospital etc and approval in the case of association, university, college, institution or company etc
  36. Amendment of sub-section (7) of section 11 to allow entities holding registration under section 12A/12AA to apply for notification under clause (46) of section 10
  37. Rationalization of provisions of section 55 of the Act to compute cost of acquisition.
  38. Removing dividend distribution tax (DDT) and moving to classical system of taxing dividend in the hands of shareholders/unit holders.
  39. Deferring Significant Economic Presence (SEP) proposal, Extending source rule, Aligning exemption from taxability of Foreign Portfolio Investors (FPIs), on account of indirect transfer of assets, with amended scheme of SEBI, and rationalising the definition of royalty.
  40. Aligning purpose of entering into Double Taxation Avoidance Agreements (DTAA) with Multilateral Instrument (MLI).
  41. Penalty for fake invoice.
  42. Amending definition of “work” in section 194C of the Act.
  43. Modification of residency provisions.
  44. Insertion of Taxpayer’s Charter in the Act.
  45. Provision for e-penalty.
  46. Clarity on stay by the Income Tax Appellate Tribunal (ITAT).
  47. Providing check on survey operations under section 133A of the Act.
  48. Provision for e-appeal.
  49. Amendment in Dispute Resolution Panel (DRP).
  50. Modification of e-assessment scheme.

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