declaration format to be furnished by the payee under section 194C(6)
Posted Date : 10-Dec-2015 , 01:46:24 pm | Posted By
Pardeep Garg
“DECLARATION UNDER SECTION 194C(6) OF THE INCOME-TAX ACT, 1961
No………(To be provided by payee) &nb...
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Category : Income Tax |
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WAYS IN WHICH GST WILL HELP THE INDIAN ECONOMY...!!
Posted Date : 09-Dec-2015 , 11:47:53 am | Posted By
Raman Singla
We all know that GST is the most radical tax reform in the country since Independence.
About nine years in the making, the GST will subsume most of the taxes and levies, radically changing the way tax is collected in India.
GST is expected to come into force by next year i.e. 2016.
The posi...
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Category : GST |
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Cenvat credit is admissible even though the Appellant was not registered with the Service Tax Department at the time of availing input services
Posted Date : 08-Dec-2015 , 09:33:23 pm | Posted By
CA Bimal Jain
Cenvat credit is admissible even though the Appellant was not registered with the Service Tax Department at the time of availing input services
India Housing Vs. Commissioner of Central Excise, Lucknow [2015 (11) TMI 1422 – CESTAT NEW DELHI]
Facts:
India Housing (“the Appellant&...
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Category : Service Tax |
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section 174 of the companies act 2013 - QUORUM FOR BOARD MEETING
Posted Date : 08-Dec-2015 , 04:12:31 pm | Posted By
Manshi Baid
SECTION 174 OF THE COMPANIES ACT 2013 - QUORUM FOR BOARD MEETING
Quorum here means the minimum number of directors to be present at the board meeting in order to hold the board meeting. The provisions related to the minimum no. of directors i.e. quorum is provided u/s 174 of the compani...
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Category : Corporate Law |
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SPECIAL PROVISIONS FOR COMPUTATION OF PROFIT AND GAIN OF BUSINESS ON PRESUMPTIVE BASIS
Posted Date : 07-Dec-2015 , 06:01:43 pm | Posted By
Manshi Baid
Section 44AD of the Income Tax Act, 1961 - SPECIAL PROVISIONS FOR COMPUTATION OF PROFIT AND GAIN OF BUSINESS ON PRESUMPTIVE BASIS
This section provides that ELIGIBLE ASSESSEES can in respect of ELIGIBLE BUSINESS can declare 8% or more of the Total turnover or gross receipts on account o...
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Category : Income Tax |
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0 | Hits : 1941 |
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section 23 of Companies Act 2013 - PUBLIC OFFER AND PRIVATE PLACEMENT
Posted Date : 07-Dec-2015 , 06:01:10 pm | Posted By
Manshi Baid
SECTION 23 OF THE COMPANIES ACT 2013 - PUBLIC OFFER AND PRIVATE PLACEMENT
The provisions related to the prospectus and issue of securities is contained in Chapter III of the Companies Act, 2013. This chapter contains two parts. Part I is in respect of Public Offer, Part-II is in respect of Pr...
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Category : Corporate Law |
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Supply to high seas vessel is liable to VAT if any territorial nexus exist in the State
Posted Date : 05-Dec-2015 , 03:14:24 pm | Posted By
CA Bimal Jain
Supply to high seas vessel is liable to VAT if any territorial nexus exist in the State
Raj Shipping Vs. State of Maharashtra [2015 (62) taxmann.com 309 (Bombay)]
In the instant case, Raj Shipping (“the Petitioner”) was engaged in "Bunker Supplies" which mainly consisted ...
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Category : VAT |
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No VAT on free supply of medicines - State Government isn’t competent to levy tax on the basis of Maximum retail price or any other notional value
Posted Date : 04-Dec-2015 , 04:33:53 pm | Posted By
CA Bimal Jain
No VAT on free supply of medicines - State Government isn’t competent to levy tax on the basis of Maximum retail price or any other notional value
Mapra Laboratories Pvt. Ltd. Vs. Commercial Tax Officer [(2015) 63 taxmann.com 91 (Patna)]
Mapra Laboratories Pvt. Ltd. and others (“th...
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Category : VAT |
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section 12 of the COMPANIES ACT 2013 - REGISTERED OFFICE OF THE COMPANY
Posted Date : 02-Dec-2015 , 01:49:25 pm | Posted By
Manshi Baid
SECTION 12 OF THE COMPANIES ACT , 2013 - REGISTERED OFFICE OF THE COMPANY
Applicability : This Section appilies to every company i.e private as well as public company.
This section provides that every company should have a registered office within 15 days of its incorporation and all ...
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Category : Corporate Law |
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Post-importation services could not be added to the value of the goods imported
Posted Date : 02-Dec-2015 , 04:33:30 am | Posted By
CA Bimal Jain
Post-importation services could not be added to the value of the goods imported
Commnr. Of Customs (Appeal) Chennai Vs. M/s. Same Engines India Pvt. Ltd. [2015 (11) TMI 441 - SUPREME COURT]
Same Engines India Pvt. Ltd. (“the Respondent”) had imported components of Tractors from For...
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Category : Custom |
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Interest expenditure, depreciation and profit margin not be taken into consideration for arriving at the cost of production
Posted Date : 30-Nov-2015 , 09:50:54 am | Posted By
CA Bimal Jain
Interest expenditure, depreciation and profit margin not be taken into consideration for arriving at the cost of production
C.C.E., Vadodara-I Vs. Nirma Ltd. & Ors. [2015 (11) TMI 605 - SUPREME COURT]
Nirma Ltd. & Ors. (“the Respondent”) was engaged in the manufacture of Li...
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Category : Excise |
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0 | Hits : 493 |
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Refund claim is allowed even if the claim is not filed on letter head
Posted Date : 29-Nov-2015 , 09:30:17 am | Posted By
CA Bimal Jain
Refund claim is allowed even if the claim is not filed on letter head and further, the question of foreign exchange realization does not arise in case of export of goods as free replacement of defective goods
Commissioner of Central Excise, Raipur Vs. Simplex Engineering & Foundary Works P. Ltd...
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Category : Excise |
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Cenvat credit towards exempted goods (Man Structural Pvt. Ltd. Vs. C.C.E. & S.T. Jaipur-I )
Posted Date : 28-Nov-2015 , 08:12:33 am | Posted By
CA Bimal Jain
When Cenvat credit towards exempted goods has been reversed after audit objection but before issuance of SCN, penalty under Section 11AC of the Excise Act read with Rule 15 of the Credit Rules is not imposable
Man Structural Pvt. Ltd. Vs. C.C.E. & S.T. Jaipur-I [2015 (11) TMI 664 - CESTAT NEW...
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Category : Excise |
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Services Which is exempt from Service Tax (Symbiosis Society Vs. Commissioner of Central Excise, Pune III)
Posted Date : 27-Nov-2015 , 10:20:29 am | Posted By
CA Bimal Jain
Courses in : (i) Mass Communication, (ii) International Business Management, (iii) Telecom Management, (iv) Information Technology, (v) Management Studies, (vi) Geo-informatics and (vii) Operational Management are 'vocational courses' and therefore, exempt from Service tax.
Symbiosis Soci...
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Category : Service Tax |
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Free warranty services provided by vehicle-dealers to vehicle-buyers out of their dealer's margin/handling charges is not liable to Service tax
Posted Date : 26-Nov-2015 , 01:35:06 pm | Posted By
CA Bimal Jain
Free warranty services provided by vehicle-dealers to vehicle-buyers out of their dealer's margin/handling charges is not liable to Service tax
Chowgule Industries (P.) Ltd. Vs. Commissioner of Central Excise, Pune-III [2015 (63) taxmann.com 6 (Mumbai - CESTAT)]
In the instant case, Chowgu...
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Category : Service Tax |
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The Trending Stuff About Trademark Registration Procedure.
Posted Date : 25-Nov-2015 , 10:48:16 am | Posted By
Dobiz
A trademark is a visual symbol which may be a word to indicate the source of the goods, a signature, name, device, label, numerals, or combination of colors used, or services, or other articles of commerce to distinguish it from other similar goods or service originating from another.
The process f...
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Category : Corporate Law |
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0 | Hits : 954 |
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No VAT on brand franchisee fee without transfer of effective control over brand
Posted Date : 17-Nov-2015 , 01:04:21 pm | Posted By
CA Bimal Jain
No VAT on brand franchisee fee without transfer of effective control over brand
State of Karnataka, Bangalore Vs. United Breweries Ltd. [(2015) 63 taxmann.com 41 (Karnataka)]
United Breweries Limited (“the Respondent”) being owner of Kingfisher Brand entered into contracts wit...
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Category : VAT |
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Online service providers like 'Flipkart' facilitating sale and purchase of goods through online portals cannot be considered as dealer of goods - Not liable for VAT
Posted Date : 16-Nov-2015 , 07:01:23 pm | Posted By
CA Bimal Jain
Online service providers like 'Flipkart' facilitating sale and purchase of goods through online portals cannot be considered as dealer of goods - Not liable for VAT
Flipkart Internet (P.) Ltd. Vs. State of Kerala [(2015) 62 taxmann.com 387 (Kerala)]
Flipkart Internet (P.) Ltd. (“...
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Category : VAT |
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Customs Department does not need to go deep into matter and by hair-splitting and semantic niceties deny benefit of Exemption Notification
Posted Date : 16-Nov-2015 , 12:08:19 pm | Posted By
CA Bimal Jain
Customs Department does not need to go deep into matter and by hair-splitting and semantic niceties deny benefit of Exemption Notification
GMR Energy Ltd. Vs. Commissioner of Customs, Bangalore [2015-TIOL-259-SC-CUS]
GMR Energy Ltd. (“the Appellant”) claimed the benefit of the Exem...
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Category : Custom |
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THREE NEW & MAJOR NOTIFICATIONS ISSUED FOR SWACHH BHARAT CESS
Posted Date : 13-Nov-2015 , 10:56:17 pm | Posted By
Raman Singla
We carried the article on our website titled “Swachh Bharat Cess – Not so Swachh” containing the issues that needs to be settled by the board relating to Swachh Bharat Cess (SBC). The Board acted proactively and responded even when we all our busy with our diwali celebration...
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Category : Service Tax |
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0 | Hits : 892 |
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