Taxation Current Affairs - 2020

Government approves re-organisation of field formations of CEBC to implement GST

The Union Finance Minister has approved re-organisation of field formations of the Central Board of Excise & Customs (CBEC) for the implementation of Goods & Services Tax (GST). Under it, CBEC will be renamed as the Central Board of Indirect Taxes and Customs (CBIC) after getting required legislative approval. Key Facts The existing formations of Read More…

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Government notifies third Protocol amending India-Singapore DTAA

The Union Finance Ministry has notified hird Protocol amending India-Singapore Double Taxation Avoidance Agreement (DTAA). The agreement came into force in February 2017and was signed in December 2016. The Third Protocol amends the DTAA between both countries to provide for source-based taxation of capital gains arising on sale of shares in a company. Key Facts Read More…

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Union Cabinet approves amendments to Customs and Excise Act to facilitate GST Regime

The Union Cabinet has approved amendments to the Customs and Excise Acts related to abolition of cesses and surcharges on various goods and services to facilitate implementation of GST Regime Decision in this regard was taken by Union Cabinet meeting chaired by the Prime Minister Narendra Modi in New Delhi. It has approved the following Read More…

Union Cabinet approves four GST Bills

The Union Cabinet chaired by the Prime Minister Narendra Modi has approved the four Goods and Services Tax (GST) related bills. These Bills were earlier approved by the GST Council after clause by clause, discussion over 12 meetings in past 6 months. The passage of these four GST related bills will pave the way for Read More…

GST Council approves States and UTs GST Bills

GST Council meeting presided by Finance Minister Arun Gaitley has approved draft Bills for implementing the goods and services tax (GST) in States and Union Territories (UTs). It was the 12th meeting of the GST Council. The Council already has approved three other GST Bills pertaining to central GST, integrated GST and the compensation to Read More…