representations

Representations from various Trades and Associations have been received with a request to extend the due date for submission of Audit Report in Form-704 for the year 2008-09. The Finance Department, Government of Maharashtra has examined and considered aforesaid representations. Accordingly, it has been decided to extend the due date for submission of the Audit Report in Form-704 to 31st March 2010. Full Article

In the context of refund of service tax paid on foreign agency commission, Notification 18/2009 dated 07/07/2009 (in the table, sl.no.2 , condition no. 2) says “exemption shall be limited to one percent of the free on board value of export goods for which the said service has been used”. This means that amount of service tax paid, which can be refunded to the exporter, is restricted to one percent of the FOB value of export goods in relation to which the taxable serv.. Full Article

Bringing relief to the working class of the country facing an unprecedented price rise, the government has decided to hike the minimum wages to Rs 100 from existing Rs 80 per day. "The decision to hike minimum wages to Rs 100 per day would be implemented with retrospective effect from November 1, 2009," a Labour Ministry source told. Full Article

You are aware that the provisions of section 29(8) and section 85 of MVAT Act, 2002 related to levy of penalty for non filing of returns within prescribed time limit were amended with effect from 1st July 2009. The amended provision provides for imposition of mandatory penalty to the defaulting dealer. The provision of section 29(8) attracts if the dealer fails to file the return as per the periodicity prescribed in the rule 17(4) of the MVAT rules. The penalty shall be .. Full Article

Due to the fact that most of the establishments are virtually closed on account of festivals of Durga Pooja, Navratra’s and Dussehra, representations were received from members all over the country posing the difficulties faced by them in preparing and filing the return of income by due date. Hence, ICAI has made a representation to [...] Full Article

Trade Circular No.  24 T of 2009,    No. : – ACST/VAT 01/ Refunds/ Mumbai, Dt :  29th August 2009 Subject: -  Grant  of  refund  under  MVAT  Act  to  specified category of dealers – Modifications/clarifications Gentlemen /Sir /Madam, 1. This  office  had  earlier  issued  Trade  Circular  No.  19  T  of  2008  Dt.  23.05.2008, Trade Circular [...] Full Article

No. VAT/U.O.R.No. 88/JC(Reg.) Mumbai – Trade Circular No. 23 T of 2009   , Dated : Date: 17.08.2009 Sub.: Procedure for on line submission of application [Statement of Requirement ] for the statutory forms (C/F/H/EI/EII) under the Central Sales Tax Act, 1956 and delivery at the place of business of the dealer. Full Article