1 Sultanpur-Mumbai Express (via Nihalgarh) (Weekly), 2. Sultanpur-Ajmer Express (via Nihalgarh) (Weekly), 3 Asansol-Digha Express (Weekly), 4. Howrah-Katpadi(Vellore)-Puducherry Express via Bhubaneswar, 5. Kishanganj-Ajmer Express (Weekly), 6 Kolkata-Ajmer Express via Singrauli-Katni-Bhopal-Nagda-Ratlam, (Weekly)
The assessee was a partner in a firm. Upon retirement, he received an amount of Rs. 50 lakhs in addition to the balance lying to his credit in the books of the firm in full and final settlement of his dues. The assessee filed a return in which the said amount was not offered to tax on the ground that it was a capital receipt. No assessment order was passed.
Government proposes to come out with standard input and output norms for service tax and excise Official sources said such norms form the benchmark of costing, which helps in working out the price of inputs required for manufacturing or producing a certain quantity of output. This is important, since most business entities or companies claim refund or get Cenvat (central value added tax) credit for the value of inputs used in producing the output.
There is a ground-swell of expectations for the Union Budget for2010/11, the second since UPA returned to power in May 2009, to be presented to Parliament by Finance Minister Shri Pranab Mukherjee on February 26. Unlike last year, when the country was still in the grip of slowdown triggered by the global crisis,
To address the overall macroeconomic slowdown, the Central Government allowed the States to raise additional market borrowings to the extent of 0.5 per cent of GSDP during 2008-09 and increase the limit of fiscal deficit to 3.5 per cent of GSDP for undertaking capital expenditure, thereby providing them additional fiscal space. Further in the Union Budget 2009-10, States have been allowed to raise additional market borrowings of 0.5 per cent of GSDP, thus increasing the limit of GFD to 4.0 per cent of GSDP during 2009-10.
“At the outset, let me congratulate the 33 officers, who have been selected for the Presidential Certificate of Appreciation for the year, 2009. An award such as this recognizes the exceptional diligence, dedication, and abiding faith of officers in their service to the nation.
Student who are desires to register for Common Proficiency Course (CPC) and become eligible for appearing in the ensuing Common Proficiency Test (CPT) to be held on 20th June, 2010 are hereby advised to have the CPT registration application downloaded from the following link
relaxation for submission of Information Technology Training (ITT) and Orientation Programme completion certificate and relaxation of nine months study course period for converted students of Intermediate/ Professional Education (Course – II)/ Professional Competence Course (PCC) to Integrated Professional Competence Course (IPCC) and their eligibility to appear in May, 2010 IPCC Examination.
Section 15 of PVAT Act 2005 deals with the Net Tax Payable by a taxable person. Sub section 1 of Section 15 provides that the output tax under PVAT Act shall be adjusted from the Input Tax Credit for determining Net Tax Payable by a taxable Person. If any excess ITC is still left then it is to be adjusted from the CST liability under CST Act 1956 at the option of the taxable person as per section 15(2) of PVAT Act.
