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Showing posts from April, 2018

No need for separate PAN Card in case of certain companies

Finance Act, 2018, amended section 139A of the Income-tax Act, 1961, and removed the requirement of issuing PAN in the form of a laminated card
It has been clarified that PAN and TAN mentioned in the Certificate of Incorporation (COI) issued by MCA shall also be treated as sufficient proof of PAN and TAN for the said company assesses.
In case of a company, an application for incorporation, allotment of PAN and allotment of TAN may be made through a common application form submitted to the MCA. In these cases, the COI issued by MCA contains a mention of both PAN and TAN.
Link to Press Release Dated: 14th April 2018 =>

Press release for bill to ship to

The government has issued a press release for bill to ship to transactions
It has been made clear that in this transaction the e-waybill has to be issued by only one of the two parties that is the original purchaser or the person dispatching the goods
For details kindly refer the copy of press release in the given link

Intra-State Movement of these 19 Goods requires E-Way Bill: Gujarat Govt. Issues Notification

In a Notification issued by the Commissioner of State Tax, Gujarat, the Commissioner has notified that E-Way Bill is not required to be generated for intra-city movement as well as the intra-state movement of all goods within the whole of the territory of the State of Gujarat. However, the intra-state movement of the notified 19 goods of consignment exceeding Rs. 50,000/- require E-Way Bill.
The 19 Listed Goods for which E-Way Bill is required, when the value of consignment exceed Rs. 50,000/- are: All kinds of edible oils, all kinds of taxable oil seeds, all kinds of oil cakes, Iron and steel, Ferrous and Non-ferrous metal and scrape thereof, Ceramic tiles, Brass parts and brass items, processed tobacco and products thereof, cigarette, Gutkha and Pan Masala, All types of Yarns, All types of plywood, block board, Decorative and Laminated Sheets, Coal including Coke in all its forms, Timber and Timber products, Cement, Marble and Granite, Kota Stones, Naphtha, Light Diesel Oil, Tea (in …