Wednesday, 19 December 2018

Govt. orders restructuring of IT Dept. for enhancing effectiveness, forms Committee

Government orders cadre review exercise for restructuring of IT Department, forms a 15-member Cadre Review & Restructuring Committee chaired by Pr. DGIT (Sys) S. K. Das; The Terms of reference for the Committee include - organizing IT Dept. in a manner which will further promote compliance with Direct Tax laws, rationalizing the organizational structure for enhancing effectiveness of Dept., proposing appropriate modifications in extant organizational structure; Committee to submit its report to the CBDT within 3 months from date of this order 

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Gujarat HC upholds levy of GST on corporate guarantee while reads down mandatory 1% valuation where actual consideration is lower

  This Tax Alert summarizes a recent ruling of the Gujarat High Court (HC)1 on the taxability of corporate guarantee provided by the Petitio...