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Archive: 29 July 2013

Posts in 29 July 2013

Postmortem of Union Budget 2024: A Comprehensive Webinar

July 18, 2024 4446 Views 3 comments Print

Join our webinar on July 24-25 for an in-depth analysis of Union Budget 2024. Learn about tax proposals, sector impacts, and investment insights. Register now!

Live Course on 360 degree Analysis of Input Tax Credit from a Litigation Perspective

July 18, 2024 3927 Views 0 comment Print

Join CA Sachin Jain for a live course on Input Tax Credit from a litigation perspective. Gain practical insights and master ITC complexities. Register now!

The Department can’t force assessee to avail a particular exemption Notification when benefit of other exemption Notification is available

July 29, 2013 2862 Views 0 comment Print

M/s Winsome Yarns Ltd. is manufactures of Yarn. During the period from September, 2009 to May, 2010, the Appellant were availing the exemption Notification No. 29/2004-CE dated July 9, 2004 in respect of the yarn manufactured and cleared for export as well Notification No. 30/2004-CE dated July 9, 2004 in respect of clearances intended for domestic consumption.

Clarifications on Services Provided by Restaurants

July 29, 2013 13546 Views 0 comment Print

Issue No 1 : Is the VAT imposed by States required to be included for the Purpose of Service Tax? Answer: For the Purpose of Service Tax State VAT has to be excluded from the Taxable Value. issue No 2: Is the Serving of Food And/or Beverages by way of Room Service liable for Service Tax?

Notifies rate of interest in respect of rupee denominated bond of an Indian company – section 194LD(2)

July 29, 2013 7364 Views 0 comment Print

Notification No. 56/2013 – Income Tax S.O. 2311(E) – In exercise of the powers conferred by the proviso to sub-section (2) of section 194LD of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies the following rates of interest in respect of rupee denominated bond of an Indian company, namely

HUF or its karta can not be designated partner in LLP

July 29, 2013 8017 Views 3 comments Print

It has come to the notice of the Ministry that some Hindu Undivided Families (HUFs) / Kartas of such families are applying to become partner/ Designated partner (DP) in LLPs and a question has arisen whether a ‘HUF’ or a karta can be allowed to do so. The matter has been examined in consultation with Ministry of Law.

Delhi VAT – Filing of information in Form T-2 by all VAT dealers kept in abeyance

July 29, 2013 1553 Views 0 comment Print

Form T-2 was prescribed for dealers (except the dealers exclusively dealing in tax free goods) whose gross turnover exceeded Rs. 10 crore during the year 2011-12 or any future date on which the dealer attains the lower limit of GTO of RS.10 Cr., vide notification No. F.7(433)/Policy-II/VAT/2012/180-190 dated 17.05.2013. to file online information on the goods being imported, but before entry of such goods, into the Territory of Delhi;

Seeks to exempt central excise duty on scheduled formulations as defined under Drugs Price Control Order (DPCO), 2013

July 29, 2013 1844 Views 0 comment Print

Seeks to exempt central excise duty on the scheduled formulations as defined under the Drugs Price Control Order (DPCO), 2013 and which are subjected to re-printing, re-labeling, re-packing or stickering, in pursuance of the provisions contained in the said Order, in a premises which is not registered under the Central Excise Act, 1944 or the rules made thereunder.

Extension of time period to complete ITT and Orientation Course by students registered under Direct Entry Scheme

July 29, 2013 1313 Views 0 comment Print

It has been brought to the notice of the Council that some students of the Direct Entry Scheme, who were registered between 01.08.2012 and 31.01.2013 for the Intermediate (Integrated Professional Competence) Course and were required to complete ITT and Orientation Course by 31.05.2013, could not complete the same for some reason or the other.

SEBI Circular for Operational, Prudential and Reporting Norms for Alternative Investment Funds (AIFs)

July 29, 2013 3915 Views 0 comment Print

In accordance with the said circular, all AIFs shall be required to comply reporting norms to SEBI on a quarterly basis (for Category I, II AIFs and for those Category III AIFs which do not employ leverage) or on a monthly basis (for Category III AIFs which employ leverage). The reporting formats and the method of reporting is specified in the said circular.

Inclusion of Kattupalli Sea Port as a Port of Registration under Para 4.19 of HBP (Vol. I)

July 29, 2013 706 Views 0 comment Print

In exercise of powers conferred under Paragraph 2.4 of the Foreign Trade Policy 2009-2014, the Director General of Foreign Trade hereby amends para 4.19 of Handbook of Procedures (v1):, 2009-14(RE 2012) to include Kattupalli Sea Port, Tamil Nadu as Port of Registration.

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