"14 November 2014" Archive

Notification No. 108/2014-Customs (N.T.), Dated: 14.11.2014

Notification No. 108/2014-Customs (N.T.) (14/11/2014)

In exercise of the powers conferred by sub-section (2) of section 14 of the Customs Act, 1962 (52 of 1962), the Central Board of Excise & Customs, being satisfied that it is necessary and expedient so to do, hereby makes the following amendment in the ...

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CBDT Chairman inaugurates 'The Taxpayers Lounge' at IITF 2014

CHAIRPERSON, CBDT INAUGURATES THE ‘THE TAXPAYERS’ LOUNGE’ AT IITF-2014 AT PRAGATI MAIDAN; VARIOUS TAXPAYER SERVICES INCLUDING E-FILING OF RETURNS, VIEWING OF TAX CREDIT THROUGH 26AS, APPLICATIONS FOR PAN AND SERVICES OF TAX RETURN PREPARERS ARE SHOWCASED TO THE PUBLIC...

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Posted Under: Custom Duty |

ICAI postpones Group-I, Paper-4, of Intermediate (IPC) examination

Postponement of Group-I, Paper-4, of Intermediate (IPC) examination scheduled for 14th November 2014 to 23rd November 2014...

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Posted Under: Custom Duty |

Service tax on Restaurants & Hotels, States alone can impose Tax-Kerala HC

The Hon’ble High Court of Kerala in the case of Kerala Classified Hotels and Resorts Association and others Vs. Union of India and others [2013-TIOL-533-HC-KERALA-ST]held that levy of Service Tax on Restaurants and hotels is beyond legislative competence of Parliament. ...

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Penalty not imposable when the Service tax liability was discharged along with interest before issuance of Show Cause Notice

Bipco Industries (Tools) Pvt. Ltd. Vs. Commissioner of C. EX. & ST., Daman

In terms of Section 73(3) of the Finance Act,when the Service tax liability was discharged along with interest before issuance of SCN, no penalty would be imposable on the Appellant....

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Posted Under: Custom Duty |

No demand can be made against Assessee merely because Assessee admitted the same

Commissioner, Customs and Central Excise, Meerut-I Vs.RS. Travels

Article 265 of the Constitution of India mandates that no tax can be levied or collected except as provided by law. Accordingly, mere fact that the Assessee had made some payments and also made promise to make further payments cannot be used against our refusing to interfere with the impugned order....

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Posted Under: Custom Duty |

CBEC clarifies on Method of calculation of safeguard duty

Circular No. 11/2014-Customs (14/11/2014)

Circular No.11/2014-Customs, Dated- 14th November, 2014 Representations have been received from the trade and the field formations regarding the method of calculation of safeguard (SG) duty leviable under notification No.4/2012-Customs (SG) dated 05.10.2012 on import of carbon black against Advance Authorization....

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Sec 292BB would operate prospectively as it curtails the right of the assessee

M/s. Ghanshyamdas Gems and Jewels Vs DCIT (ITAT Hyderabad)

Hon'ble Hyderabad Bench has in the case of M/s. Ghanshyamdas Gems and Jewels v/s DCIT in IT(SS)A No. 16/Hyd/2011 has held that Section 292BB of the Income Tax Act, 1961 would operate prospectively as it curtails the right of the assessee....

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Companies (Cost Records and Audit) Rules, 2014 – Simplified

Rule 2(e) lays down cost records as books of account relating to utilisation of materials, labour and other items of cost as applicable to the production of goods or provision of services as provided in section 148 of the Act and these rules....

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Posted Under: Custom Duty |

Company Law Settlement Scheme,2014 (CLSS-2014) extended up to 31/12/2014

General Circular No. 44/2014 (14/11/2014)

General Circular No. 44/2014 Dated: 14.11.2014 Subject: COMPANY LAW SETTLEMENT SCHEME, 2014 (CLSS-2014) In continuation to the Ministry’s General Circular No. 34/2014 dated 12.08.2014 and 40/2014 dated 15/10/2014 on the subject cited above, this Ministry has, on consideration of requests received from various stakeholders, has decid...

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Importance of Location in Service Tax

The location of a service provider or receiver (as the case may be) is to be determined by applying the following steps sequentially —(a) where the service provider or receiver has obtained only one registration, whether centralized or otherwise, the premises for which such registration has been obtained; ...

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Posted Under: Custom Duty |

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