Services received by SEZ, if necessary, prior to commencement of authorized operations are also eligible for exemption/ refund
Posted Date : 06-Jan-2015 , 07:18:06 pm | Posted By
CA Bimal Jain
Dear Professional Colleague, Services received by SEZ, if necessary, prior to commencement of authorized operations are also eligible for exemption/ refund We are sharing with you an important judgement of the Hon’ble High Court, Gujarat in the case of Commissioner of Service Tax Vs. Zydus T...
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Category : Service Tax |
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Posted Date : 05-Jan-2015 , 05:14:54 pm | Posted By
CA Bimal Jain
Dear Professional Colleague, “Sale of used cars is not subject to VAT under the Delhi Value Added Tax Act, 2004” We are sharing with you an important judgment of Hon’ble High Court, Delhi, in the case of Anand Decors and Others vs. Commissioner of Trade and Taxes, New Delhi [ST. ...
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Category : VAT |
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Input Credit on Capital Goods under Delhi VAT
Posted Date : 03-Jan-2015 , 10:31:11 am | Posted By
CA Vinod Kumar
INPUT CREDIT ON CAPITAL GOODS UNDER DELHI VALUE ADDED TAX Tax Credit on Capital goods shall be available in the manner described under Section 9(9) of the DVAT Act, 2004 (hereinafter called the” ACT”)
Definition of Capital Goods:
“Capital goods” means ...
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Category : VAT |
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Repo rate and Stock Market
Posted Date : 02-Jan-2015 , 09:40:18 pm | Posted By
Jayant Makkar
REPO RATE AND STOCK MARKET Interest is nothing more than the cost someone pays for the use of someone else's money. Homeowners, credit cards users etc know about this scenario very well. They borrow money from bank and in return they pay interest to bank for using the privilege. Interest rate...
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Category : Shares & Stock |
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CONSTITUTIONAL AMENDMENT ON GST
Posted Date : 02-Jan-2015 , 05:10:44 pm | Posted By
CA Vinod Kumar
ATTEMPT TO DECODE THE 122ND CONSTITUTIONAL AMENDMENT BILL (GOODS AND SERVICE TAX) BACKGROUND
Before going into the depth of Constitution of India and its amendments we have to first understand why it needs to be amended to bring the GST Law. The GST Law is seen as one of the biggest tax ref...
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Category : GST |
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Concept of MAT & AMT with Illustations
Posted Date : 01-Jan-2015 , 09:20:53 pm | Posted By
Shivashish Karnani
Hello to all colleagues and my dear friends. This is my first article which summarizes the provisions of Minimum Alternate Tax (MAT) and Alternate Minimum Tax (AMT). The article gives only the theoretical insights along with example for sound understanding of the provisions. In my next article will ...
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Category : Income Tax |
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Time-limit of Section 11B of the Central Excise Act, 1944 doesn
Posted Date : 31-Dec-2014 , 12:41:43 pm | Posted By
CA Bimal Jain
Dear Professional Colleague, Time-limit of Section 11B of the Central Excise Act, 1944 doesn’t apply to refund of wrongly paid Service tax We are sharing with you an important judgment of CESTAT, Mumbai, the case of Jyotsana D. Patel Vs. Commissioner of Central Excise, Nagpur [(2014) 52 taxm...
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Category : Service Tax |
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Posted Date : 27-Dec-2014 , 01:33:46 pm | Posted By
CA Bimal Jain
Dear Professional Colleague, The provision of valuation under Section 4A of the Central Excise Act, 1944 would not be applicable on the goods, not intended for retail sale. We are sharing with you an important judgment of the Hon’ble CESTAT, Mumbai, in the case of Wyeth Ltd. Vs. CCE, Nasik [...
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Category : Excise |
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Board
Posted Date : 26-Dec-2014 , 02:52:52 pm | Posted By
CA Bimal Jain
Dear Professional Colleague, Board’s Circulars have prospective effect only and not retrospective effect We are sharing with you an important judgment of the Central Government in the case of Uttam Galva Steels Pvt. Ltd. Vs. CCE Raigad [2014 (12) TMI 619–Government of India] on followi...
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Category : Excise |
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0 | Hits : 349 |
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If there was no malafide for the purpose of penalty, there cannot be any malafide for the purpose of limitation also
Posted Date : 24-Dec-2014 , 05:35:45 pm | Posted By
CA Bimal Jain
Dear Professional Colleague, If there was no malafide for the purpose of penalty, there cannot be any malafide for the purpose of limitation also We are sharing with you an important judgment of the Hon’ble CESTAT, New Delhi, in the case of Internet Computer Centre Vs. CCE, Lucknow [2014 (12...
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Category : Service Tax |
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Like the Central Excise, applications for rectification of mistakes before Tribunal are maintainable under Service tax as well
Posted Date : 23-Dec-2014 , 03:22:37 pm | Posted By
CA Bimal Jain
Dear Professional Colleague, Like the Central Excise, applications for rectification of mistakes before Tribunal are maintainable under Service tax as well We are sharing with you an important judgement of the Hon’ble High Court, Madras, in the case of Fairline Worldwide Express Vs. Commissi...
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Category : Service Tax |
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Where all the factual facts are available on the records, the Tribunal couldn
Posted Date : 20-Dec-2014 , 02:17:54 pm | Posted By
CA Bimal Jain
Dear Professional Colleague, Where all the factual facts are available on the records, the Tribunal couldn’t remand back the case We are sharing with you an important judgment of the Hon’ble High Court, Bombay, in the case of L'Oreal India (Pvt.) Ltd. Vs. Union of India [(2014) 51 taxm...
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Category : Excise |
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0 | Hits : 331 |
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Taxability of Provident Fund -Recognized, Unrecognized & Statutory
Posted Date : 19-Dec-2014 , 03:11:50 pm | Posted By
Vimmi
Section 10(11) and 10(12) of the Act deal with exemption on payments from provident funds, while section 80C of the act deals with allowance of deductions on contributions to provident funds. The following are the types of provident funds. Recognized Provident Fund (RPF): This scheme is applicable ...
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Category : Income Tax |
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Extended period is not invocable, when penalties were waived off on the ground of interpretational issue being involved
Posted Date : 17-Dec-2014 , 11:25:13 am | Posted By
CA Bimal Jain
Dear Professional Colleague, Extended period is not invocable, when penalties were waived off on the ground of interpretational issue being involved We are sharing with you an important judgment of the Hon’ble CESTAT, New Delhi, in the case of Sankhla Udyog Vs. Commissioner of Central Excise...
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Category : Service Tax |
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Changes in e-TDS/TCS RPU & FVU validations.
Posted Date : 17-Dec-2014 , 10:46:08 am | Posted By
CA GOURAV MURARKA
Dear Sir/Madam,
It is proposed to release new version of NSDL Return Preparation Utility (RPU) and File Validation Utility (FVU) incorporating the below features:
Features of NSDL RPU
· Allow update in field in Form no. 27Q “Whether TDS rate of TDS is IT act (a) and DTAA (b)&rdqu...
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Category : Income Tax |
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LACUNA IN SECTION 14A RULE 8D OF IT ACT 1961
Posted Date : 13-Dec-2014 , 10:07:45 am | Posted By
Hemant
LACUNA IN SECTION 14A AND RULE 8D OF IT ACT 1961
Allowance of expenditure incurred in relation to exempted income during the assessment or otherwise would be prejudicial to the revenue that’s why Section 14A was introduced by the Finance Act 2001 with retrospective effect from 1st April 1962 ...
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Category : Income Tax |
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Principal Manufacturer is entitled to avail Cenvat credit of duty paid by job worker on intermediate goods, who choose to pay duty instead of availing exemption
Posted Date : 10-Dec-2014 , 02:42:48 pm | Posted By
CA Bimal Jain
Dear Professional Colleague, Principal Manufacturer is entitled to avail Cenvat credit of duty paid by job worker on intermediate goods, who choose to pay duty instead of availing exemption We are sharing with you an important judgement of the Hon’ble CESTAT, Ahmedabad, in the case of Therma...
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Category : Excise |
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Adjustment of excess Service tax paid, against tax payable in following months cannot be denied merely on the grounds of non-compliance of procedure
Posted Date : 09-Dec-2014 , 04:00:11 pm | Posted By
CA Bimal Jain
Dear Professional Colleague, Adjustment of excess Service tax paid, against tax payable in following months cannot be denied merely on the grounds of non-compliance of procedure We are sharing with you an important judgment of the Hon’ble CESTAT, New Delhi, in the case of Jubilant Organosys ...
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Category : Service Tax |
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Minimum Recommended Scale Of Fees for the Professional Assignments Done by the Chartered Accountants
Posted Date : 09-Dec-2014 , 08:15:20 am | Posted By
CA.Khurana Vivek
Minimum Recommended Scale Of Fees for the Professional Assignments Done by the Chartered Accountants
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Category : ICAI |
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Any Stay Order passed by the Tribunal, if is in force beyond August 7, 2014, shall continue till disposal of appeals
Posted Date : 06-Dec-2014 , 05:19:17 pm | Posted By
CA Bimal Jain
Dear Professional Colleague, Any Stay Order passed by the Tribunal, if is in force beyond August 7, 2014, shall continue till disposal of appeals – No need for filing application for extension We are sharing with you an important judgement of the Hon’ble CESTAT, Ahmedabad, in the case ...
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Category : Excise |
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0 | Hits : 387 |
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