Inputs lost during manufacturing does not amount to receipt of Inputs in short quantity and accordingly whatever tax has been paid by Assessee on Inward Transportation service is entitled for Input Service credit
Posted Date : 03-Dec-2014 , 01:48:54 pm | Posted By
CA Bimal Jain
Dear Professional Colleague, Inputs lost during manufacturing does not amount to receipt of Inputs in short quantity and accordingly whatever tax has been paid by Assessee on Inward Transportation service is entitled for Input Service credit We are sharing with you an important judgement of the H...
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Category : Service Tax |
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Related Party Transaction,Section 188 of Companies Act,2013
Posted Date : 29-Nov-2014 , 11:12:23 am | Posted By
Utkarsh Gupta
Related Party Transaction,Section 188 enumerated 7 Transactions wherein the limits of the transaction is defined in Rule 15 of Companies(Board and its Meeting),Rules 2014 and the defination of related party defined in Section 2(76) and Definition of Relative is Defined in Section 2(77) read with Rul...
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Category : ICSI |
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Assessee is eligible for remission of duty in respect of goods cleared for export under bond but which were destroyed at port before same could be exported
Posted Date : 27-Nov-2014 , 02:19:18 pm | Posted By
CA Bimal Jain
Dear Professional Colleague, Assessee is eligible for remission of duty in respect of goods cleared for export under bond but which were destroyed at port before same could be exported We are sharing with you an important judgement of the Hon’ble CESTAT, Ahmedabad in the case of Honest Bio-V...
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Category : Excise |
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No Service tax is leviable on the amount of discounts/ incentives as these are not consideration for any service rendered
Posted Date : 27-Nov-2014 , 01:11:29 pm | Posted By
CA Bimal Jain
Dear Professional Colleague, No Service tax is leviable on the amount of discounts/ incentives as these are not consideration for any service rendered We are sharing with you an important judgment of the Hon’ble Mumbai CESTAT, in the case of Group M Media India Pvt. Ltd and Others Vs. Commis...
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Category : Service Tax |
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Department cannot adjust unconfirmed demand against refund payable to the Assessee
Posted Date : 26-Nov-2014 , 07:15:21 pm | Posted By
CA Bimal Jain
Dear Professional Colleague, Department cannot adjust unconfirmed demand against refund payable to the Assessee We are sharing with you an important judgement of the Hon’ble CESTAT, Delhi in the case of Bharat Sanchar Nigam Ltd. Vs. Commissioner of Central Excise, Jaipur [(2014) 51 taxmann.c...
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Category : Service Tax |
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CPE Hours Requirements for CAs by ICAI for the block period of 3 years (1-1-2014 TO 31- 12-2016)
Posted Date : 24-Nov-2014 , 03:49:20 pm | Posted By
CA.Khurana Vivek
CPE HOURS REQUIREMENTS FOR THE BLOCK PERIOD OF 3 YEARS (1-1-2014 TO 31- 12-2016) TO BE COMPLIED WITH BY DIFFERENT CATEGORIES OF MEMBERS
A. All the members (aged less than 60 years) who are holding Certificate of Practice (except all those members who are residing abroad) are requi...
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Category : ICAI |
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LOOPHOLE IN SEC 139(2) NEEDS TO BE PLUGGED
Posted Date : 21-Nov-2014 , 10:38:04 pm | Posted By
Hemant
LOOPHOLE IN SECTION 139 OF THE COMPANIES ACT, 2013
The legislature in their wisdom decided to plug loopholes of the erstwhile Companies Act, 1956 by inclusion of various new provisions to prevent frauds in the Companies Act, 2013 which were not a part of the erstwhile Companies Act. The noble int...
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Category : Corporate Law |
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Cenvat credit of transferred unit cannot be denied when all assets and liabilities are transferred to Assessee
Posted Date : 21-Nov-2014 , 03:10:07 pm | Posted By
CA Bimal Jain
Dear Professional Colleague, Cenvat credit of transferred unit cannot be denied when all assets and liabilities are transferred to Assessee We are sharing with you an important judgement of the Hon’ble Mumbai CESTAT, in the case of Jai Corporation Ltd. Vs. CCE Vapi [2014 (11) TMI 29 - CESTA...
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Category : Excise |
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Authorities to take expeditious steps to sanction refunds
Posted Date : 21-Nov-2014 , 03:06:07 pm | Posted By
CA Bimal Jain
Dear Professional Colleague, Authorities to take expeditious steps to sanction refunds – Order marked to the Finance Minister for consideration We are sharing with you an important judgement of the Hon’ble Mumbai CESTAT, in the case of Vodafone (I) Ltd. Vs. Commissioner of Service Tax,...
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Category : Service Tax |
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Pradhan Mantri Jan - Dhan Yojana : On Track or Derailed.
Posted Date : 20-Nov-2014 , 02:08:38 pm | Posted By
MD TASLEEM AHMAD KARIMI
Pradhan Mantri Jan - Dhan Yojana : On Track or Derailed.
“Pradhan Mantri Jan - Dhan Yojana&...
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Category : Banking |
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CBEC clarification regarding availment of Cenvat credit on Inputs/ Input Services after six months
Posted Date : 19-Nov-2014 , 07:33:25 pm | Posted By
CA Bimal Jain
Dear Professional Colleague, CBEC clarification regarding availment of Cenvat credit on Inputs/ Input Services after six months Background: The CBEC vide Notification No. 21/2014-CE (NT), dated July 11, 2014 (Applicable w.e.f September 1, 2014) [“Notification No. 21”], has amended Rul...
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Category : Service Tax |
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Exemption under N/N. 25/2012-ST
Posted Date : 17-Nov-2014 , 04:44:45 pm | Posted By
Rishi Goyal
Serial
No
Service
Service Provider
Service Receiver
1
Any service
Any person
United Nations
Specified International Organization e.g. WTO
2
Health care Service i.e. Diagnosis/treatment
...
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Category : Service Tax |
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0 | Hits : 508 |
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The Row over Constitutional Validity of Service Tax on Restaurant Services
Posted Date : 17-Nov-2014 , 11:40:04 am | Posted By
Manindar Kakarla
The Row over Constitutional Validity of Service Tax on Restaurant Services
Introduction:
Constitutional validity of service tax levy on restaurant services has turned out to be one of the contentious issues. This issue has its origin somewhere in early 1980’s, when States proceed...
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Category : Service Tax |
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Service tax on Restaurants and Hotels
Posted Date : 14-Nov-2014 , 12:18:54 pm | Posted By
CA Bimal Jain
Dear Professional Colleague, Service tax on Restaurants and Hotels - We are sharing with you an important judgment of Division Bench of the Hon’ble Kerala High Court in the case of Union of India and Others Vs. Kerala Bar Hotels Association and Others [2014-TIOL-1913-HC-KERALA-ST] on the fo...
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Category : Service Tax |
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NACAS vis-a-vis NFRA
Posted Date : 12-Nov-2014 , 09:17:59 am | Posted By
Hemant
NACAS OF COMPANIES ACT 1956 Vis-à-vis NFRA OF COMPANIES ACT 2013 (National Advisory Committee on Accounting Standard vis-à-vis National Financial Reporting Authority) As a corporate professional one should be equipped with the knowledge of the bodies set up under the company la...
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Category : Corporate Law |
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Demand not sustainable only because the Assessee had admitted Service tax liability
Posted Date : 06-Nov-2014 , 06:59:09 pm | Posted By
CA Bimal Jain
Dear Professional Colleague, Demand not sustainable only because the Assessee had admitted Service tax liability We are sharing with you an important judgement of the Hon’ble High Court of Andhra Pradesh, in the case of Commissioner, Customs and Central Excise, Meerut-I Vs. RS. Travels [2014...
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Category : Service Tax |
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Latest News on Auditor Appointed & Correction Procedure
Posted Date : 05-Nov-2014 , 10:23:07 am | Posted By
Abhishek Kumar
Hello Professionals,
As we know there have been continuous going changes in Compliance of Co Act 2013. This time MCA has done before some days by" NOTIFYING" Form ADT-1 for Auditor’s Appointment w.e.f. 20th October 2014.
Earlier we were submitting Form GNL- 2 for Auditor&rs...
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Category : Corporate Law |
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ગુજરાત વેટના નિયમોમાં થયેલ સુધારાઓ અંગે
Posted Date : 04-Nov-2014 , 11:18:22 am | Posted By
Hardik Mehta
ગુજરાત વેટના નિયમોમાં થયેલ સુધારાઓ અંગે
(તા. ૧૫/૧૦/&#...
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Category : VAT |
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Classification of UCBs under FSWM Criteria
Posted Date : 29-Oct-2014 , 12:28:31 pm | Posted By
RATHI
Classification of Urban Co-operative Banks (UCBs) as Financially Sound and Well Managed (FSWM) The RBI, vide its’ Circular UBD.CO.LS.(PCB).Cir.No.24/07.01.000/2013-14 dated October 1,fifa 15 ps3 coins 2013 had laid out the criteria for FSWM Banks. Modifying its earlier instructions, v...
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Category : Banking |
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fifa coins
Posted Date : 29-Oct-2014 , 11:15:13 am | Posted By
CA Afzal Hussain
"How to learn" "Learning is your fixed Assets" & "Reading is your Current Assets"" Dear Friends/ Students, I was of the view that during the age of CA study, every one is smart enough to read....best place to buy fifa coins but you know when something goes back of mind need to bring it ...
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Category : Students Zone |
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