"20 December 2014" Archive

Pay Compensation for illegal detention of goods by VAT Department : HC

M/s Sandeep Bulk Carriers Vs State Of U.P. And 3 Ors. (Allahabad High Court)

It is undisputed that the sole basis for detention of the tanker in question and seizure of the bitumen by the Respondent No.4 was the information collected by him from the toll plaza which revealed that last four digit of the registration number of the tanker in question was similar...

Read More

Renting Vs Hiring By Uttrakhand High Court

The main thrust of the present article is to analyse the landmark judgment given by the Hon’ble Uttrakhand High Court recently, in the case of Commissioner of Customs & Central Excise Vs Sachin Malhotra, Raj Kumar Taneja, and M/s Shiva Travels [2014-TIOL-2039-HC-UTTRAKHAND-ST] wherein the difference between renting and hiring has been r...

Read More

TDS U/s. 194C attracted on contract of putting up hoarding

Madison Communication Pvt. Ltd. Vs Dy. CIT (ITAT Mumbai)

The assessee has shownexpenditure on advertisement through outdoor display which includes payment for advertisement on hoarding/board. The A.O. further noticed that the assessee has deducted TDS @ 2% u/s.194C on these payments....

Read More

Goods & Service Tax Council to Monitor Implementation of GST

The Constitution (One Hundred & Twenty Second Amendment) Bill,2014 as proposed under Bill No. 192 of 2014 in Parliament on 19th December,2014 focus on setting up of an important key body for smoother , Faster and hassle free implementation of Goods & Service Tax and that is Goods & Service Tax Council....

Read More

Why an assessee should avoid sending an appeal by speed post?

1. As per Section 37C(1)(a), it was mandatory on the part of the Revenue to serve a copy of the order of Commissioner of Central Excise (Appeals) by registered post with acknowledgment due to the assessee . ...

Read More

Employees First, Customers Second – Management for New Era

This is not a lecture or new theory but some insights into the new management era based on lessons learned from Business leaders and the new management thinking and I strongly believe that there will be a major shift in management philosophy(ies) in next five to ten years. If we fail to change our notions […]...

Read More

E-Retailing – VAT and CST perspective

E-Retailing transactions are growing by leaps and bounds, day by day, because of convenience, choice, cost competitiveness and transparency being offered. With increase in volume and value of these transactions, naturally taxman’s eyes are on these transactions, to explore the possibility of levy of VAT or CST as the case may be, and to...

Read More

FAQ – TDS on Non residents – Section 195

In our country the TDS on Non resident under section 195 is the unique section to identify the tax rates and deductions on our business transaction with non resident day to day basis. In this article I would like to discuss about the Frequently Asked Questions (FAQ) on TDS on Non resident payments under section 195 of Income tax act....

Read More

The ‘GST’ Constitution Amendment Bill, (No. 192 of 2014) – Facilitating GST Law (An Analysis)

One of the major Indirect tax reforms that the country is now on road to witness is the incarnation of a single GST law instead of multiple indirect taxes viz Service Tax, Central Excise, VAT, CST, Local Body Tax, Entry Tax etc. After a round of discussions of Hon’ble Finance Minister with State FM’s, the […]...

Read More

e-UPASS-Self Policing – Electronic uploading of Purchase and Sales Statement in Karnataka

The main intention of Govt., to repel old Sales Tax and introduce VAT was to remove cascading effect and thereby make Indian goods more competitive and marketable and in turn to raise good amount of taxes for the benefit of common man. The Govt., later realised in a country like ours success of this story […]...

Read More