Today Update :

DIRECT TAX:-

• DVAT depth. the provisional login/ password removed from the dealer’s login has been restored for accessing to GSTN portal. Members instantly avail of this opportunity for timely migration to GST & do not wait for the next phase. TEAM STBA
• e- filing portal of income tax, wherein the functionality “My Account” has been changed.

Indirect Tax:-

• CESTAT Mumbai held that as per rule 11(1) of CENVAT Credit Rules, 2004 read with Notification 23/2004 – CE, the amount of credit earned by the manufacturer under CENVAT Credit Rules, 2002, which existed prior to 10.09.2004, can be utilized by them as per transitional rule 11 of the new CENVAT Credit Rules, 2004. [ Arbes Tools Pvt. Ltd. Vs CCE ]
• Manufacturer can avail Composition Scheme up to 50 lacs @ minimum 5%(2.5% CGST & 2.5% SGST) & Trader  at  2%(1%CGST 1%SGST).

Other Update:-

• SEBI (Securities and Exchange Board of India) has established its own Investor Protection & Education Fund (IEPF).
• SEBI relaxes rules for angel funds to boost start-up funding. To give a fillip to start-up funding; markets regulator SEBI has relaxed its rules for investment by angel funds.

Key Dates:-

• Due date of deposit of Tax deducted/collected for the month of December – 07.01.2017.
• Return by units paying duty > 1 crore (CENVAT + PLA) for December – 10.01.2017.
• Return of Non-SSI assesses for December – 10.01.2017.
• Return of SSI assesses for the quarter ending December – 10.01.2017.
• Return for EOUs for December – 10.01.2017.
• Due date to the deposit of DVAT of December – 21.01.2017.

“Gaps are created not by ‘what is said but by how it is said’. What is said reaches the mind.  How it is said reaches the heart. And there is no way to win the mind without winning the heart.”

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