"16 November 2011" Archive

All about Service Tax in Brief and Download Free E-Book updated up to 25.08.2011

What is meant by Registration‖? Who should apply for registration under Service Tax law? In terms of Section 69 of the Finance Act,1994 (Chapter V) read with rule 4 of the Service Tax Rules,1994 – Every person who has provided a taxable service of value exceeding Rs. 9 lakhs, in the preceding financial year, is required to ...

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Reflection in the P/L a/c towards income not determinative; Entries in books of account do not decide the nature of receipts -HC

Commissioner of Income Tax V/s. M/s State Urban Development Society (Punjab & Haryana High Court)

CIT v. M/s State Urban Development Society (P&H High Court ) - It has been held that reflection in the profit and loss account towards the income is not determinative. The entries in the books of account do not decide the nature of receipts. Since, the grants have been received by the assessee for disbursement and keeping in view the fact...

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Tax U/s. 195 not deductible on consideration for live broadcasting

The Asst. Director of Income Tax (International Taxation) V/s. M/s. Neo Sports Broadcast Private Limited (ITAT Mumbai)

As the consideration for live broadcasting does not fall either u/s 9(1)(i) or u/s 9(1)(vi), in our considered opinion, such amount is not chargeable to tax under the provisions of this Act in the hands of non-resident. As such there is no question of deduction of tax at source. Asstt. DIT (Intl. Tax.) v. M/s.Neo Sports Broadcast Private ...

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Notification No. 40/2011-Central Excise; Dated: 16.11.2011

Notification No. 40/2011-Central Excise 16/11/2011

Notification No. 40 /2011-Central Excise, hereby rescinds the notification of the Government of India, in the Ministry of Finance (Department of Revenue), No. 14/2007-Central Excise, dated the 1st March, 2007, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 143 (E), dated the 1st...

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Procedure for rectification when assessee filed ST3 return mistakenly for future period instead of current period

Instances have been reported by some field formations to this Directorate-General that some assesses had indvertently filed ST3 Returns online in ACES for a future period. As a result, when they tried filling the returns for the same period, when it was due, the system did not accept it as the returns for that period were already in the d...

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Posted Under: Service Tax |

Regarding Mandatory E filing of ST3/ST3A Return by Every Assessee

TRADE NOTICE NO 03 /2011-SERVICE TAX-I 15/09/2011

A service tax assessee can file return electronically by accessing ACES Web Portal www.aces.gov.in. The said website has hosted LMS (Learning Management System) on the home page. The broad features are given below:- ...

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Service Tax – Procedure & documents required for Centralized registrations

TRADE NOTICE No. 03/2011-12- ST 20/10/2011

The existing procedure and documents required to be filed along with application for Centralized Registration has been reviewed. In order to simplify the procedure and to follow the uniform practice in all the Divisions, a new procedure has been devised. The salient features of the new procedure are given below:...

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Service Tax Department to send ST-2 Certificate by Post only unless specified otherwise in ST-1

TRADE NOTICE NO. 08/2011-SERVICE TAX 01/11/2011

It has been brought to our notice that some of the Superintendents are asking for printout of ST-2 Registration Certificate from assessee for signature and affixing stamp. The procedure has been reviewed. All the officers in this Commissionerate have been directed to take printout of ST-2 Registration Certificate from their office and se...

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Email Hacking is punishable under Information Technology Act, 2000

Respondent No. 1 has violated Section 43 of IT Act, and made unauthorized access to Gmail accounts of her husband and her father-in law, and unauthorisedly downloaded/forwarded/printed their emails and chat sessions with others, thus committing Identity Theft by using the password belonging to others dishonestly, and violating the privacy...

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Posted Under: Service Tax |

Govt amends Export-Import Bank Act to increase credit to exporters and importers

The government on Wednesday approved amendments to the Export-Import Bank Act to improve its ability to increase credit to exporters and importers and said it would now be tabled in parliament. The Export-Import Bank of India (Amendment) Bill, 2011 seeks to increase the authorised capital of the bank from Rs 2,000 crore to Rs 10,000 crore...

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Posted Under: Service Tax |

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