Friday, 5 August 2016

Updates:


  1.  CBDT to come up with FAQs on Dispute Resolution Scheme, to settle appeals pending with IT commissioners.
  2. 05.08.2016 is the last date to file IT returns for AY 2016-17 by individuals, HUF, Partnership firms (without audit). J & K assesses to file by 31.08.2016.
  3. Constitution (122nd) Amendment Bill, 2014 enabling levy of GST by Central Govt. as well as State Govts. is finally passed by Rajya Sabha with 100% in favour of the same. Now it shall go back to Lok Sabha to approve the amendments made by Rajya Sabha. Thereafter it shall be ratified by at least 16 States before being presented to the Hon'ble President for his assent.
  4. Excess payment of service tax can be adjusted in subsequent months.