Thursday, 25 August 2016

Updates

Updates:
  1. No compensation from Insurance Co. if there is theft without a forcible entry:  [2016]72 taxmann.com 296 (SC of India).
  2. VAT Dept issued notification dated 24.08.2016 regarding withdraw of mandatory requirement of DSC in filing DVAT returns.
  3. Under GST:
    • Composition Supplier can register in multiple states if total sales up to 50 lacs, no Inter state sale. Scheme must for all businesses having PAN.
    •  Selling milk, eggs, chickens taxable under GST as dairy/poultry farming not part of agriculture. Vegetables not taxable but their saplings are taxable.
  4. Govt notified some of the section of the Bankruptcy. S.O. 2746(E) dated 19th August 2016 issued by MCA.