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Archive: 16 February 2010

Posts in 16 February 2010

Live Course on Appeal, Pleading & Drafting under GST by CA Sachin Jain

May 15, 2024 6435 Views 0 comment Print

oin us for an immersive live course led by renowned expert CA Sachin Jain, as we delve into the intricacies of appeal, pleading, and drafting under GST.

Doctrine of mutuality does not apply in case business activities of an assessee-firm is not restricted to partners only

February 16, 2010 9927 Views 0 comment Print

Where an Association or Company trades with its members only and the surplus out of the common fund is distributable among the members, there is mutuality and the surplus is not assessable to tax as profit.

Haryana VAT – Enhancement in basic rate of tax from 4% to 5%

February 16, 2010 71556 Views 93 comments Print

In exercise of the powers conferred by sub-clause (iii) of clause (a) sub-section (1) of section 7 of the Haryana Value Added Tax Act, 2003 (Act 6 of 2003), the Governor of Haryana hereby directs that tax payable by a Value Added Tax dealer on sale of goods specified in Schedules ‘C’ from Serial No. 1 to 101 shall be calculated at the rate of five per cent with immediate effect.

Extension of last date for online submission of form with the office of C&AG

February 16, 2010 492 Views 0 comment Print

We would like to inform that the last date for online submission of form with the O/o C&AG of India for getting empanelled for appointment as auditors of Government Companies/Corporati ons for the year 2010-2011 has been extended upto 18th February 2010 (05.30 PM).

Mismanagement of Company Properties – Company Law in India – A Case Study

February 16, 2010 960 Views 0 comment Print

Company Law is very interesting and complicated. A shareholder having a substantial stake in the Company should be very careful as to how the Company functions and as to whether there is any chance for oppression and mismanagement. A substantial shareholder in a Company should always have an eye on the functioning of the Company and should keep track of all the transactions or the business.

Some views on Penal Provisions u/s 29(8) of MVAT Act

February 16, 2010 6123 Views 0 comment Print

It is well esteblished principle that the power to levy penality under taxation laws is incidental and ancillary to the power of collection of tax and is provided to make sure the compliance of tax deposits by the assessees. Taxation laws are welfare laws i.e they are for the welfare of the general public at large.

DGFT notification on amendment in paragraph 4.1.6 related to Value Addition under Advance

February 16, 2010 478 Views 0 comment Print

Advance Authorisation necessitates exports with a minimum value addition of 15%, except for items specified in Appendix 11B of HBP v1 and for items in Gems & Jewellery Sector, for which value addition would be as per paragraph 4A.2.1 of HBP v1.

DGFT public notice-Appendix 11B for Value addition in terms of paragraph 4.1.6 of FTP

February 16, 2010 1144 Views 0 comment Print

A new Appendix i.e., Appendix 11B related to Value addition Norms (below 15%) for specific product(s) under Advance Authorisation Scheme” stands added in the Appendices and Aayat Niryat Forms in the HBP, v1, as per the Appendix attached to this Public Notice.

Excise circular on Beedi cess payable under the provisions of Section 3 of Beedi Workmen Welfare Cess Act

February 16, 2010 3377 Views 0 comment Print

References have been received from Trade & Industry as well as field formations, regarding leviability of beedi cess on labelled as well as unlabelled beedis. It has been stated that Notification No. S-23011/1/79-M.V. dated 19.12.1981[G.S.R. No.669(E)] as amended by [G.S.R. No. 281(E)] dated 30.03.82, issued by the Ministry of Labour, provides that when cess has been collected on unlabelled beedis,

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