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Rule 51A of Punjab VAT Rules has been added in the Punjab VAT Rules 2005 w.e.f 12-09-2008 to provide for the locking of TIN No of a dealer in certain circumstances. Locking the TIN no means the temporary stoppage of interstate movement of goods of the concerned person for the purpose of verification or further legal action. Temporary stoppage is done by locking the TIN No of the concerned person in the server of the software used by the VAT Department all over the state including at barriers set up at the various borders of the state.
Here in this article the tax payable in case of works contracts is concentrated on in view of the addition of new provisions in this regards u/s 8 of the PVAT Act 2005. Section 8 of PVAT Act 2005 which deals with the rates of tax has been amended w.e
Many people have articulated about the possible ill-effects of the proposed introduction of IFRS in India but such dissenting voices are muffled in the said euphoric din by those who neither understand nor bother to understand the implications. IFRS
It is observed that the following Pre-Shipment Inspection (PSI) Agencies listed under Appendix – 5 of the Handbook of Procedures had issued wrong Preshipment-Inspection certificates. It has, therefore, been decided not to accept the PSI Certificates issued by these agencies.
In exercise of powers conferred under paragraph 2.4 of the Foreign Trade Policy, 2009-2014, the Director General of Foreign Trade hereby makes the following amendment inAppendix-5 (List of Inspection and Certification Agencies) of Handbook of Procedures Vol.I (Appendices and Aayat Niryat Forms) 2009-2014.
Chennai Bench of Income-tax Appellate Tribunal in the case of Frontier Offshore Exploration (India) Ltd. v DCIT ITA No. 200/Mds/2009, held that where payment to a non-resident is covered under the special regime of section 44BB, withholding of appropriate tax by the payer through the application of the special regime and without approaching the Assessing Officer will not lead to any violation of withholding tax provisions. Accordingly, expenses cannot be disallowed for short withholding of taxes.
When I was a student of law, I was privileged to see enthusiastic young students discussing many constitutional issues, peculiar cases and even discussing interesting issues of International Law. There was no doubt in my mind at that time that these
Considering the overwhelming response both from CA Firms and students and the result of IPCC/PCC exam which is expected to be declared on 5 th February, 2011, online placement portal has been reopened from 29th January,2011. Both eligible CA firms an
British telecom major Vodafone today contested Rs 11,000 crore tax imposed by Indian authorities on its acquisition of Hutchison, saying it has no tax liability and will continue to take actions to defend itself. Vodafone International Holdings BV
In the last two years, the Government of India has been making series of changes to the provident fund regulations. • After inclusion of international workers (IWs) into the PF net, and also restricting their withdrawals, the Government of
