Compliance Chambers

The 24th GST Council Meeting held today through video conferencing decides that Inter-State e-way Bill be made compulsory from 1st of February, 2018; The System to be ready by 16th of January, 2018; The Uniform System of e-way Bill for Inter-State as well as the Intra-State movement will be implemented across the country by 1st June, 2018.   The 24th Meeting of the GST Council held today through video conference under the Chairmanship of the Union Minister of Finance and Corporate Affairs, Shri Arun Jaitley. It discussed the implementation of e-way Bill system in the country. Until such time as the National e-way Bill is ready, the States were authorized to continue their own separate e-way Bill systems. However, it was represented by the trade and transporters that this is causing undue hardship in the Inter-State movement of goods and therefore, bringing in an early all India system of e-way Bill has become a necessity. The GST Council today reviewed the progress of readi

The Mines and Mineral Development and Regulation Act, 1957 was amended in 2015. Subsequent to the amendment, the Ministry of Mines notified the Mineral Auction Rules, 2015 on 20/05/2015 to prescribe the procedure of the auction process. Auction of concessions for major minerals (other than coal, petroleum and natural gas) was done for the first time in the history of mineral administration in the country. 33 blocks were successfully allocated. The value of minerals auctioned out is Rs. 169,000 Crore. Revenue to states over lease period are estimated at Rs. 128,000 Crore. The additional revenue on account of auction process is Rs. 99,000 Crore. However, 60 auction attempts failed during this period. The Ministry of Mines was monitoring the process very closely with the state governments. The consensus emerged that the Mineral Auction Rules need to be amended to make the process more pragmatic without sacrificing the checks on successful bidders. The Mineral Auction Rules hav

The Cabinet Committee on Economic Affairs chaired by the Prime Minister Shri Narendra Modi has given its approval for expansion of the schemes of Ministry of Women and Child Development under Umbrella Scheme "Mission for Protection and Empowerment for Women" for a period 2017-18 to 2019-20. CCEA has also given approval to the new scheme called ‘Pradhan Mantri Mahila Shakti Kendra', which will empower rural women through community participation to create an environment in which they realize their full potential. Expansion under Beti Bachao Beti Padhao has also been approved based on the successful implementation in 161 districts. The financial outlay during 2017-18 to 2019-20 will be Rs.3,636.85 crore with a Central Share of approximately Rs.3,084.96 crore. Benefits of the Scheme: The approved sub-schemes are social sector welfare schemes especially for care, protection and development of women. It will also aim at improvement in declining Child Sex Ratio; en

Vide Finance Act, 2017, a new clause (ab) was inserted in sub-section (1) of section 12A of the Income-tax Act, 1961 (‘the Act’) w.e.f 01.04.2018 to the effect that where a trust or an institution, which has been granted registration under sections 12A or 12AA of the Act has subsequently adopted or undertaken modification of the objects and such modification does not conform to the conditions of such registration, then such trust or institution shall be required to obtain registration again by making an application within a period of thirty days from the date of such adoption or modification of the objects. As per the Memorandum related to Delegated Legislation laid on the floor of the Parliament along with the Finance Bill, 2017, the form and manner in which an application of registration u/s 12(1)(ab) shall be made to the Principal Commissioner or Commissioner for registration of the trust or institution subsequent to modification of its objects, is required to be prescribed

On the eve of Deepawali, Employees’ Provident Fund Organisation (EPFO) is pleased to introduce a new facility for its esteemed members having Universal Account Number (UAN) and other relevant details to link their respective UAN with Aadhaar online. This, in turn, would facilitate the members, a better and speedy EPFO services. The facility has been made available at EPFO’s website www.epfindia.gov.in >> Online Services >> e-KYC Portal>> LINK UAN AADHAAR. Using the facility, EPFO members can online link their respective UAN with Aadhaar. While using the facility, the member will have to provide his/her UAN. An OTP will be sent to his/her mobile linked with UAN. After OTP verification, the member will have to provide his/her Aadhaar Number. Another OTP will be sent to his/her mobile/email linked with Aadhaar. After OTP verification, if UAN details are matched with Aadhaar details, then UAN will be linked with Aadhaar. After linking, the EPFO member may avail o