Globe Agencies (the Assessee) purchased Valued Based Advance License (VABAL) from the market in respect of exported goods. Since, the Assessee failed to show that input stage credit has not been availed by the manufacturer of the exported (exempted) goods
In exercise of the powers conferred by clause (b) of section 2 of the Central Excise Act, 1944 (1 of 1944), read with sub-rule (1) of rule 3 of the Central Excise Rules, 2002, the Central Board of Excise and Customs, hereby appoints the officers of Central Excise specified in column (2) of the Table below and invests them with the powers of Central Excise Officers specified in column (3) of the said Table
We hold that both employees’ and employer’s contributions are covered under the amendment to Section 43B of I.T. Act and the Alom Extrusions judgment. Hence the Tribunal was right in holding that payments thereof are subject to benefits of Section 43B.
In this case Joint Commissioner had acted mechanically in order to discharge his statutory obligation properly in the matter of recording sanction as he merely wrote on the format Yes, I am satisfied which indicated as if he was to sign only on the dotted line, whereas satisfaction has to be with objectivity on objective material. Thus, reopening of assessment was invalid.
The Institute of Company Secretaries of India (ICSI) has written a letter to Ministry of Corporate Affairs on 13.10.2013 by which it has requested to extend the last date of the Company Law Settlement Scheme, 2014 to December 31st, 2014. The CLSS 2014 has been introduced for condoning the deny in filing the pending annual documents […]
Bharat Marine Co. (Petitioner) challenged the Show Cause Notice (SCN) issued by the Department on the ground that the contents of the SCN discloses a pre-conceived and closed mind. It was further contended that the findings of Revenue were categorical in nature
Clarifications have been sought on whether a trust or a trustee representing a trust in the case of “Real Estate Investment Trust” (REIT) or “Infrastructure Investment Trust” (InvITs) or such other trusts set up under the regulations prescribed under the Securities & Exchange Board of India Act, 1992, can become a partner in an LLP.
Vide circular No. 163/14/2012–ST, dated 10th July, 2012, on the issue of levy of service tax on the activities involved in the inward remittance it was clarified that there is no service tax per se on the foreign exchange remitted to India from outside for the reason that money does not constitute a service and that conversion charges or fee levied for sending such money would also not be liable to service tax
1. Freight paid/payable to Goods Transport Agency (GTA) 1.1 Does individual/proprietorship firm is liable to pay service an When tax under reverse charge? An Individual or a proprietorship firm is liable to take service tax registration and pay service tax under reverse charge only if:- i. It is registered as a dealer of excisable goods […]
Government has received representations from stakeholders seeking clarifications on the manner of presentation of notes in Consolidated Financial Statement (CFS) to be prepared under Schedule III to the Companies Act, 2013(Act). These representations have been examined in consultation with the Institute of Chartered Accountants of India.
