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Archive: 10 April 2012

Posts in 10 April 2012

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

May 15, 2024 6390 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.

Live Course on How to Reply to GST Notices & SCN & to Fake ITC Notices? – Last day to Register

May 15, 2024 19404 Views 0 comment Print

Join our live course to learn expert strategies for replying to GST notices, SCNs, and fake ITC notices. Understand litigation nuances, evidence insights, and practical tips for effective responses. Register now!

RBI ask banks to pay 8% interest for loss due to late receipt/delayed credit of interest warrants/maturity value of Relief/Savings bonds

April 10, 2012 1027 Views 0 comment Print

Under the present scenario of deregulated interest rate on the savings bank account, in order to avoid ambiguity and variation in compensation rates across different agency banks, these instructions have been reviewed. It has now been decided that with effect from the date of this circular, an agency bank shall compensate an investor in Relief/Savings bonds, for the financial loss due to late receipt/delayed credit of interest warrants/maturity value, at a fixed rate of 8% per annum.

Govt to examine possibility of a Common Tax Code for Service Tax and Central Excise

April 10, 2012 1695 Views 0 comment Print

As announced by the Union Finance Minister, Shri Pranab Mukherjee in his Budget speech, a Study Team has been set-up by the Government, under the leadership of Shri. M. K. Gupta to examine the possibility of a common tax code for service tax and central excise, which could be adopted to harmonize the two legislations. […]

Service tax rate on Air Ticket Issued before 1st April 2012

April 10, 2012 3484 Views 0 comment Print

Circular No.155/6/ 2012 – ST It has been brought to the attention of the Board that some airlines are collecting differential service tax on tickets issued before 1st April 2012 for journey after 1st April 2012, causing inconvenience to passengers. Representations have also been received in this regard. The position of law in the above respect is clear and is detailed below.

FDI Policy as amended up to 22-9-2012 – Circular 1 of 2012

April 10, 2012 1481 Views 0 comment Print

If the Indian company has extended a guarantee to a loan taken by non-resident entity (may be its subsidiary abroad), such guarantees are part of contingent foreign liabilities. In this case, under column1 of block 7, “Loan Guarantee” needs to be mentioned.

Transfer Pricing – In Realm of evolution – Part I

April 10, 2012 3297 Views 0 comment Print

Finance act 2012 has brought two landmark changes pushing us towards a comprehensive TP legislation. TP has been made applicable to domestic transactions and the much awaited Advance Pricing Agreement (APA) has been introduced. In the part I of this series we have tried to analyze proposed enactment relating domestic transfer pricing bringing out the purpose, impact and issues related with it.

FEMA – Rupee value of Special Currency Basket fixed at Rs.70.965327 with effect from March 13, 2012

April 10, 2012 658 Views 0 comment Print

AD Category-I banks are advised that a further revision has taken place on March 7, 2012 and accordingly, the Rupee value of the Special Currency Basket has been fixed at Rs.70.965327 with effect from March 13, 2012.

Excel Tips – How to round a number to thousands with hundreds shown as decimal

April 10, 2012 2469 Views 0 comment Print

To round a number to thousands with the hundreds shown as a decimal: 1. Press Ctrl+1 to open the Format Cells dialog box. 2. Select the Number tab, and from Category, select Custom. 3. In the Type box, enter the following Custom Formatting syntax: #,##0.0, ;[Red](#,##0.0,);- ;

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