Sponsored
    Follow Us:

Archive: 19 October 2012

Posts in 19 October 2012

Penalty imposable for Accepting cash Loan without reasonable cause

October 19, 2012 6617 Views 0 comment Print

The assessee must prove beyond the shadow of the doubt there existed a reasonable cause for not complying with the conditions contained in section 269SS of the Act. Circumstances under which the cash was accepted must be explained. Unfortunately no cogent material was produced in that direction.

MVAT – Delegation of power of Section 57 to JCST and Notification of Section 35

October 19, 2012 2152 Views 0 comment Print

In exercise of the powers conferred by sub-section (5) of section 10 of the Maharashtra Value Added Tax Act. 2002 (Mah. IX of 2005), the Commissioner of Sales Tax, Maharashtra State, Mumbai, hereby amends the Notification No. Sr. D.C. (A and R)/PWR/ 1006/ 2/Adm-3, dated 6th October 2007 as follows, namely,

New SIONs for export product ‘Aluminium Beverage Cans’ in Engineering Product Group

October 19, 2012 684 Views 0 comment Print

Public Notice No: 26(RE: 2012)/2009-2014 Directorate General of Foreign Trade hereby notifies new SIONs in respect of the export product Aluminium Beverage Cans . The new entries would be as under:-

FTP- Submission of physical copy of RCMC not mandatory wef 01.12.2012

October 19, 2012 1012 Views 0 comment Print

Details of RCMC would be made available (uploaded) by respective EPCs/Commodity Boards Development Authorities/other competent authorities. Accordingly, submission of physical copy of RCMC by the applicants will not be required. This will be with effect from 01/12/2012. PUBLIC NOTICE NO.25(RE-2012)/2009-2014

Extension of ban on export of edible oils till further orders

October 19, 2012 1120 Views 0 comment Print

Prohibition on export of edible oils has been extended till further orders. But, the same will not apply to relaxations/exemption as mentioned in para 3 & 4 above. Export of fish oil continues to be free as per Notification No. 60 dated 20.11.2008. Notification No 24 (RE – 2012)/2009-2014

DVAT- Review of Assessment of dealers on the basis of 2A & 2B data mismatch for 1st Quarter of 2012-13

October 19, 2012 4735 Views 0 comment Print

The Department of Trade and Taxes had framed the assessment of quarterly return filing dealers for the Tax period First Quarter 2012-13, on the basis of mismatch in the data filed by the dealers in Annexure 2A and 2B online. This assessment was framed on the basis of data as on 21/09/2012 at 09.00 pm.

TPO not justified in rejecting computation of ALP made by assessee by applying CUP method if all comparables are fairly unrelated

October 19, 2012 1751 Views 0 comment Print

It is a fact on record that the assessee has adopted the CUP method for computing the Arms’ Length Price for the international transaction entered into by it with its AE for the medical transcription service rendered by it to the AE. In this regard, the assessee has considered two external comparables and three internal comparables.

Sponsored
Sponsored
Search Post by Date
March 2025
M T W T F S S
 12
3456789
10111213141516
17181920212223
24252627282930
31