Service Tax – re-rubberizing charges collected for reconditioning of used old rollers – liable to pay service tax: service tax is payable on the re-rubberising charges collected. However, it is made clear that we are not dealing with a situation where the reconditioned rollers are stocked and sold in the market (as and when the buyers approach) on collecting the price thereof which might include the cost of reconditioning.
In exercise of powers conferred by sub-section (1) of section 4 and sub-section (1) of section 5 of the Customs Act, 1962 (52 of 1962), the Central Board of Excise and Customs hereby appoints the Additional Commissioner of Customs (Import), New Custom House, Ballard Estate, Mumbai, to act as a common adjudicating authority to exercise the powers and discharge the duties conferred or imposed on the Additional Commissioner of Customs (Port), New Custom House, 15/1, Strand Road, Kolkata, for the purpose of adjudicating the matters relating to Show Cause Notice pertaining to M/s M.R.International, 24/4, 1st Floor, Chhoti Subzi Mandi, Janakpuri, New Delhi – 110 058 issued vide, F.No. DRI/AZU/INT-41/2008, dated the 19th January, 2009, by the Additional Director, Directorate of Revenue Intelligence, Zonal Unit, Rupen Bungalow, Jain Merchant Society, Near Mahalaxmi Cross Road, Paldi, Ahmedabad – 380 007.
The asset management company shall obtain, wherever required under these regulations, prior in-principle approval from the recognised stock exchange(s) where units are proposed to be listed.
In exercise of powers conferred under Paragraph 2.4 of the Foreign Trade Policy, 2004-2009, the Director General of Foreign Trade hereby makes the following amendments in Handbook of Procedures, Vol. I RE2008.
In the statement of Standard Input Output Norms (SION) as contained in the Handbook of Procedures (V2), 2004-2009, as amended from time to time, addition/revision/amendments/corrections at appropriate places as mentioned in ANNEXURE “A” (Page-1) to this Public Notice are made.
Sub-section (1) of section 194C of the Income-tax Act provides for deduction of income-tax at source from any sum credited or paid to a resident contractor for carrying out any work (including supply of labour for carrying out any work) in pursuance of a contract between the contractor and the Government, local authorities, statutory corporations, […]
Section 193 of the Income-tax Act provides for deduction of tax at source (TDS) on any income by way of interest on securities payable to a resident. In order to facilitate development of the corporate bond market for improving the availability of finances for infrastructure development, the TDS on any interest payable to a resident […]
Correction of arithmetical mistakes and adjustment of incorrect claim under sub-section (1) of section 143 through Centralised Processing of Returns Generally, tax administrations across countries adopt a two-stage procedure of assessment as part of risk management strategy. In the first stage, all tax returns are processed to correct arithmetical mistakes, internal inconsistency, tax calculation […]
Granting of power to the assessing officer to extend the time for completion of special audit under sub-section (2A) of section 142 Sub-sections (2A) to (2D) of section 142 deal with power of Assessing Officer to order a special audit. Such power is required to be exercised by the Assessing Officer having regard to the […]
Most of the chartered firms may have completed there bank audits or will be on the verge of completion of the same. As you may be aware that Income Tax department has notified the Income Tax Return for the A.Y. 2009-10 but not yet officially released the ITR for the same. I have uploaded the […]
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