From the desk of Chairman,CBDT- CIT wise details of AY10-11 paper refund Returns entered into the system but not processed is given herein below. These lists, however, do not give the true and complete picture of pending refunds, as the Systems does not have any visibility of paper refund Returns not entered onto the system. On the bas...
Finance Ministry will soon come out with a discussion paper on service tax to increase its contribution to the overall tax kitty and align it with the proposed Goods and Services Tax (GST). "The Finance Ministry is working on a discussion paper on taxation of services to get opinion and feedback before moving to GST," a source told PTI....
Industry chamber Assocham today said the government's decision to revise taxes on currency conversion would increase transaction cost and hit the country's exports. This charge, on the differential between RBI reference rate and the rate at which transaction is booked, will significantly increase transaction costs and decrease India's co...
M/s Tradex Polymers Pvt. Ltd. Vs CCE (CESTAT Ahemdabad) -
M/s. Tradex Polymers Pvt. Ltd. is a registered service provider and is a Del credere consignment agent and during the course of advertising and publicizing the product the assessee enlisted the services of a mandap keeper which is an input service. This confirms to the definition of input service as defined under Cenvat Credit Rules, 2004...
No NBFC shall contribute to the capital of a partnership firm or become a partner of such firm. A NBFC, which has already contributed to the capital of a partnership firm or was a partner of a partnership firm, shall seek early retirement from the partnership firm. ...
Pricing of Convertible instruments. Issue of Shares permitted against specified non-cash considerations under Approval Route. Approval / conditionalities surrounding previous joint venture/collaborations done away with. Guidelines relating to Down-Stream investments. Sector Specific policy for FDI- Agriculture. The revised FDI policy ...
Select Holiday Resorts Pvt. Ltd. [52 DTR 14] - Section 79 (Section) which contains provisions restricting carry forward of past year losses under the Income Tax Laws (ITL) ruled that the Section has no applicability to a case of amalgamation of 98% shareholder company with the Taxpayer where the amalgamated and the amalgamating companies ...
Amendments in Point of Taxation Rules, 2011 (the Point of taxation Rules) as prescribed by Notification No. 25/2011 - Service Tax dated 31 March 2011 effective from 1 April 2011. Amendments in the Cenvat Credit Rules, 2004 (the Credit Rules) vide Notification No.13/2011 - Central Excise (N.T.) dated 31 March 2011 effective from 1 April ...
The next Eligibility Test for ISA PQC is scheduled to be held on Saturday the 14th May, 2011 from 08.00 a.m. to 12.00 p.m. A detailed notification giving list of centers would be hosted on Committee Portal at http://cit.icai.org by 15th April, 2011. A list of candidates, who have completed ISA Professional Training from 1st January 2011 ...
The global financial crisis has challenged the conventional views on the role of monetary policy. Post-crisis, the weight of arguments tilts towards acceptance of financial stability as an objective of central bank or monetary policy. However, the key challenge is to evolve a consistent framework for implementation. While interest rate ca...