Updates on Goods & Service Tax & Central Excise
Central Excise By virtue of Circular No. 1050/38/2016-CX dated 08 th of November, 2016, it is hereby clarified that No Annual Return is required to be filed for the period 2015-16 which is due to be filed by 30.11.2016. Copy of the Circular is attached for your reference. Goods & Service Tax Even though Draft Rules and Draft Formats related to GST Invoice, Returns, Refunds etc. have been issued by the Central Government, but the same are still drafts only and final GST Act, followed by Rules & Regulations and related instructions are yet to issued by the Central Government. Hence we assure you that no sooner statutory rules, regulations and Act are notified by the Government; the same would be conveyed without loss of any time for your study, interpretation and compliances as and when the same become effective since it is expected that the final draft of the GST Legislations will be presented before the House in the upcoming winter session, initiati...