User: prs Topic: Legal-News
Category: Acts
1 new since Mar 29 2017 18:23 IST RSS 2.0
 
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Finance Bill: Major points made by FM Arun Jaitley in response to opposition's criticism 29.3.2017 DNA: Wide Angle
Arun Jaitley speaking in the Rajya Sabha tried to allay fear of the opposition in context to several amendments made to the Finance Bill. FM said that only 76 lakh people above Rs 5 lakh whereas 2 crore take international flights above year   * Jaitley blasts Kapil Sibal for saying India is a tax compliant society. Jaitley says the assumption is that everything is done by cheque. Opposition's hypothesis is erroneous.    * Jaitley clarifies on changes to Section 132 of Income Tax act. Nobody can start searching without satisfaction note. Source of information is protected,  to protect them. The amendment is not to held back information in court. He says it is indeed a step against economic offences, which has  been turned into a human rights issue.    * Jaitley denies that changes made to political fundings are done to benefit the ruling party. Jaitley says there is   scope for bipartisan debate.  A bank will be notified for #electoralbonds. Party will have one declared account. Total  donations to party ...
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Transport Ministry To Hold Workshops Across The Country In April 29.3.2017 TOI: India
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GST rates will have no inflationary impact: Arun Jaitley 29.3.2017 ET: Policy
Introducing four bills to give effect to GST, Jaitley said the legislations will have to be passed by Parliament and one by each of the state assemblies to turn India into one market with a single tax rate.
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Landmark tax change a 'huge implementation challenge' for India 29.3.2017 ET: Policy
"It’s a massive tax change, administrative change at the center and the states, lots of procedures, processes, new forms, so there’s a huge implementation challenge," Subramanian said.
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Lok Sabha takes up GST Bill today: 10 facts 29.3.2017 ET: Policy
The Cabinet chaired by PM Modi approved the Central Goods and Services Tax Bill 2017 (The CGST Bill), the Integrated Goods and Services Tax Bill 2017 (The IGST Bill).
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GST debate live: 7 hours allotted for landmark tax reform as Modi government eyes a July 1 launch 29.3.2017 ET: Policy
For GST, 7 hours have been allotted for today's debate, with union minister Arun Jaitley putting his argument first for this reform.
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Bank of Baroda money laundering case: ED arrests two businessmen 29.3.2017 DNA: Popular News
The Enforcement Directorate has arrested two people in connection with its probe in the Rs 6,000 crore Bank of Baroda money laundering case. Officials said businessmen, Manmohan Singh and Gagandeep Singh, were placed under arrest late Tuesday under the provisions of the Prevention of Money Laundering Act (PMLA). They said the two will be produced before a court on Wednesday for further custody. The businessmen have been accused of channelling an alleged Rs 300 crore through the Ashok Vihar branch of the said bank here to foreign locations using suspected shell companies. The case had emerged last year and is being probed both by the Enforcement Directorate and the CBI. At least four people have been arrested by the ED in this case earlier. The ED had earlier termed this case to be an alleged incident of trade-based money laundering, where accused traders evaded custom duties and taxes to generate slush funds. The CBI had also arrested BoB AGM S K Garg and Jainish Dubey, who headed the foreign exchange ...
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Calendar for Auction of Government of India Treasury Bills for the Quarter ending June 2017 released 29.3.2017 Govt of india: PIB
After reviewing the cash position, the Government of India, in consultation with Reserve Bank of India, has decided to notify the amounts for the issuance of Treasury Bills for the quarter ending June 2017 as under:
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US House of Representatives votes to revoke internet privacy rules 29.3.2017 DNA: Urban Tales
In a major development, the Republican-controlled US House of Representatives today voted to revoke the broadband privacy rules that the Federal Communications Commission approved days before President Donald Trump's election. Republicans passed the measure 215 to 205 which would overturn Federal Communications Commission (FCC) rule of requiring internet service providers to get customers' permission before selling sensitive consumer data such as browsing history. The measure has now passed both chambers of Congress and will move to President Trump's desk to be signed into law. FCC Chairman Ajit Pai welcomed the passage of the resolution. "Last year, the FCC pushed through, on a party-line vote, privacy regulations designed to benefit one group of favored companies over another group of disfavored companies. Appropriately, Congress has passed a resolution to reject this approach of picking winners and losers before it takes effect," he said. "It is worth remembering that the FCC's own overreach created ...
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Freebies from your employer may dry up under GST regime 29.3.2017 DNA: Urban Tales
Free lunches, scholarships for employees' children, office car for personal use may all become a thing of the past with the Goods and Services Tax Bill coming into effect from July 1, 2017.  According to a report by The Times of India , any benefits extended to an employee over and above his Cost-To-Company (CTC) and beyond the Rs 50,000 threshold may attract a tax under the GST regime. This could included free subsidised food provided to employees, beverages, group and life insurance, gym or fitness club memberships, scholarships, taxi services, etc.   This is because of a provision in the GST Bill called ''supply made without consideration" which is taxable. According to the report, the supply of goods and services is taxable under GST and "supply of goods or services to a related party (a term that includes employees) without consideration, when made in the due course of furtherance of business, is taxable under GST.  Apart from this, the report also notes that input tax credit would not be available ...
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Amenities to employees outside CTC may trigger GST liability 29.3.2017 ET: Policy
Schedule 1 provides that 'gifts' not exceeding Rs 50,000 in value in a financial year by an employer to an employee shall not be treated as supply of goods and services.
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Lawyers can strike for a day with Bar Council's approval: Law Commission 29.3.2017 TOI: India
The Law Commission has recommended amendment to the Advocates Act to allow lawyers a day's token strike in compelling circumstances with the prior approval of the bar council concerned even though it suggested barring lawyers from practising if they indulged in chronic disruption of court work.
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Can't appoint Lokpal till law is amended, Centre tells SC 29.3.2017 TOI: India
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Rahul Gandhi attends LS in midst of GST row 29.3.2017 DNA: Recent Columns
Even as Finance Minister Arun Jaitley said all three Goods and Services Tax (GST) Bills listed for consideration in the Lok Sabha will be approved through a consensus, the Congress said the Bills in their present form were "unacceptable". But knowing fully well that it can do little to block the proposed legislation in the Lok Sabha on account of its meagre numbers, Congress vice-president Rahul Gandhi attended Parliament on Tuesday for the first time after the party's defeat in UP elections, and told his MPs to raise the concerns of the public and seek necessary amendments in the GST Bills. The government, instead of forcing discussion on the four Bills from Tuesday itself, gave a day's break in view of the Opposition's protest on Monday over not getting time to study them. The Bills could reach the MPs' residences here only on Saturday, when most had gone home, and so they could learn about them only on arrival on Monday. All four Bills are listed as "money Bills" and as such they are not required to ...
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Congress likely to move amendments to GST bills 29.3.2017 TOI: Home
Former Union minister Veerappa Moily will open the Congress’s arguments over the GST bills and is likely to touch upon the questionable provisions like taking away the power of taxation from Parliament and vesting them in the GST Council which the party opposes.
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EESL dismisses charges of irregularities in LED procurement 28.3.2017 ET: Power
EESL is the implementing agency for national LED lighting programme that was inaugurated by the Prime Minister on January 5, 2015.
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The Chief of Air Staff, Air Chief Marshal BS Dhanoa PVSM AVSM YSM VM ADC Formally Launches ‘Aviation Turbine Fuel Digital Issue and Payment’ (ATF DIP) 28.3.2017 Govt of india: PIB
The Chief of Air Staff, Air Chief Marshal BS Dhanoa PVSM AVSM YSM VM ADC has formally launched the e-billing system 'ATF DIP' at New Delhi on 28 Mar 17. The new Digital Issue and Payment system will be implemented from 01 Apr 17.
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ET GBS 2017: GST encouraging but India needs to do more, says Harvard Professor Martin Feldstein 28.3.2017 ET: Policy
At the Economic Times Global Business Summit, Prof Feldstein said that India needs to do more if it want to get more investment.
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Total valuation of enemy property in India Rs 1.04 lakh crore: Government 28.3.2017 ET: Economy/Finance
Hansraj Ahir said the total number of immovable property with the custodian of enemy property is 9,280 which is spread over around 11,773 acres of land.
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Government slaps 10% import duty on wheat, tur dal 28.3.2017 ET: Foreign Trade
The move will help curb sharp fall in the wholesale prices of these two commodities and ensure support price to farmers who are expecting a good crop.
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