Taxation Current Affairs - 2019

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Union Government Constitutes Justice AP Shah Committee to look into the issue of MAT on FIIs

Union Government has constituted Committee headed by Justice A.P. Shah to look into the issue of Minimum Alternate Tax (MAT) on Foreign Institutional Investors (FIIs). It was announced by Union Finance Minister Arun Jaitley in Rajya Sabha. The committee will submit its report expeditiously in order to resolve the issue of MAT between the tax Read More…

Month:  Categories: Governance & Politics

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Lok Sabha passes Goods and Services Tax Bill

Lok Sabha has passed the Goods and Services Tax Bill, 2014 which is also known as Constitution (122nd Amendment) Bill. The Bill seeks to amend the Constitution in order to introduce the goods and services tax (GST). Consequently, the bill also seeks to carry out new indirect tax regime in the country that will subsume Read More…

Month:  Categories: Constitution & Law

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Government makes PAN mandatory for central excise registration

Union Government has made Permanent Account Number (PAN) mandatory for private firms seeking central excise registration. As per the new rules, the PAN registration will now be given within two days of filing online applications to improve the ease in doing business in manufacturing. In this regard Union Finance Ministry has issued an order that Read More…

Month:  Categories: Governance & Politics

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SC Declares Tax Tribunal Unconstitutional

A five judge bench of the SC declared the National Tax Tribunal Act of 2005 as unconstitutional. The impugned legislation envisages creation of tribunals to deal with tax related cases only. The law was declared unconstitutional on the grounds that it took away powers of the higher judiciary to determine questions of substantial law and Read More…

Month:  Categories: Constitution & Law

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