Meaning:- The Goods and Services Tax (GST) is a comprehensive value added tax (VAT) on the supply of goods or services. France was the first country to introduce this value added tax system in 1954 devised by a public servant. In India, due to non consensus between central and state government, the proposal is to […]
Service tax format of declaration and covering letter for issue of User ID and TPIN at aces.gov.in site for existing Assessee’s. EXISTING USER: Directly contact your service tax range office. Kindly submit a requisition letter to your range officer along with your company name, Reg. No & your updated communication email id. After submitting requisition, you will get the TPIN and PASSWORD through Email.
It is found that surrender was made subject to no penalty vide letter of the assessee filed before the Assessing Officer during assessment proceedings, which clearly indicate that surrender was being made with a condition that no penal action will be made and to avoid further litigation and to buy peace and jurisdictional High Court decisions in the case of CIT v. Saran Khandsari Sugar Works [2000] 246 ITR 216/[2002] 120 Taxman 319 (All.) and CIT v. Mansa Ram & Sons [1977] 106 ITR 307 (All.) were in favour of the assessee and Commissioner (Appeals) has followed these decisions while deleting the impugned penalty. Moreover, department has not been able to bring on record any contrary superior Courts decisions in this regard. Therefore, there is no valid ground to interfere in the order passed by the Commissioner (Appeals) which is upheld and appeal of the department is dismissed being devoid of any merit. As a result, the appeal of the department is dismissed.
Micro, Small and Medium Enterprises Development Act, 2006-“Implications for Annual Financial Statements” The Micro, Small and Medium Enterprises Development Act, 2006 (“the Act”) has been notified and has received the assent of the President on 16th June 2006. Subsequently, notifications defining the authorities under the Act and for classifying various categories i.e. micro, small or […]
The current NOOPL of the banks as applicable to the positions involving Rupee as one of the currencies shall not include the positions undertaken in the Currency Futures/Options segment in the exchanges. The positions in the exchanges (both Futures and Options) cannot be netted/offset by undertaking positions in the OTC market and vice-versa. The positions initiated in the exchanges shall be liquidated/closed in the exchanges only.
