Taxation Current Affairs - 2020

Government appoints S Ramesh as Chairman of CBIC

The Appointments Committee of Cabinet (ACC) has appointed S Ramesh, member of Central Board of Indirect Taxes and Customs (CBIC) as its next Chairman. He will succeed present chairman Vanaja N. Sarna who retires in June 2018. Central Board of Excise and Customs (CBEC) CBIC is the nodal national agency responsible for administering Customs, GST, Read More…

CBDT notifies Protocol amending DTAA between India and Kuwait

The Central Board of Direct Taxes (CBDT) has notified protocol to amend existing Double Taxation Avoidance Agreement (DTAA) between India and Kuwait. The DTAA between both countries was signed in June 2006 for the avoidance of double taxation and for prevention of fiscal evasion with respect to taxes on income. Key Facts The said protocol Read More…

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GST Council approves simplified tax return filing system

The Goods and Services Tax (GST) Council in its 27th meeting chaired by Union Finance Minister Arun Jaitley announced new and simplified return filing process. It was approved based on recommendations of Group of Ministers on IT simplification for GST implementation. Features of simplified return filing process One monthly return: All taxpayers excluding few exceptions Read More…

CBDT inks 200th Unilateral Advance Pricing Agreement

The Central Board of Direct Taxes (CBDT) has entered into 200th Unilateral Advance Pricing Agreement (UAPA) after it singed one in April 2018. With the signing of this, CBDT has achieved another milestone of having signed its 200th UAPA. The total number of APAs entered into by CBDT so far has gone up to 220, Read More…

Intra-state e-way bill rolled out in 5 states

The E-Way Bill system for Intra-State movement of goods was rolled out in five more states‑Andhra Pradesh, Gujarat, Kerala, Telangana and Uttar Pradesh. The E-Way Bill system for all inter-State movement of goods valued over Rs 50,000 was rolled-out from 1st April 2018. At that time, Karnataka was only state which had rolled out e-way Read More…