"26 December 2014" Archive

7 Third Party Sources CBEC uses for detection of tax evaders

Third party data is used for (a) identification of all taxpayers who are liable to pay tax, but do not pay and (b) to ensure that taxpayers discharge their tax liability properly. 1. Information from Reserve Bank of India (RBI)/authorised banks for handling foreign exchange As part of an exercise undertaken by the DG Audit […]...

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Posted Under: Service Tax |

Paying Taxes Voluntarily – What you must Know

1. Why should you pay taxes? You often wonder why you should pay any taxes. Some people think that taxes are paid only by the rich. Some people think that if they do not pay due taxes, nobody will notice. Some people wonder why taxes should be paid, since there is little that one gets […]...

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Posted Under: Service Tax |

Public interest litigation in TDS issues

On the income tax side, countless assessees have faced difficulties owing to the tendency on the part of the assessing officers to arbitrarily adjust refunds against demands, many of them artificially created, without any reference to the assessees, which is a most unjust and unreasonable approach. The magnitude of the harassment resultin...

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Posted Under: Service Tax |

Three examples of needless litigation

1. In the case of Commissioner of Income Tax-6, Mumbai vs Maersk Global Service Centre (I) Pvt. Ltd (TS-260-HC­2014 (BOM)-TP), the revenue was in appeal before the Bombay High Court, questioning the orders both of the Commissioner (Appeals) and the Income Tax Appellate Tribunal. The burden of the revenue’s song was that, in view of [&h...

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Posted Under: Service Tax |

Delhi VAT : Sale of used cars not subject to VAT

Anand Decors Vs Commissioner Of Trade And Taxes (Delhi High Court)

Recently, Hon'ble Delhi High Court in the matter of Anand Decors & Ors. v. CTT, New Delhi, has pronounced that the cars, even though fall within capital goods, but sale of used cars is not subject to VAT under Delhi VAT Act, by virtue of section 6(3) of ibid....

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Writing Your Diary/ Journal On A Daily Basis – Why & How

Its December now, that time of the year when everyone looks back their past 12 months trying to visualize and reflect on what all happened and how did they perform or behaved, be it their professional, personal or academic life....

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Posted Under: Service Tax |

Master Memorandum on VAT issues to CCT, Rajasthan

All Rajasthan Vat Consultants Association (ARVCA) (Incorporation under process) has recently given by e-mail on 22.12.2014 Memorandum on VAT issues faced by the Traders and Professionals in the State to Hon. Commissioner of  Commercial Taxes, Rajasthan. The Memorandum Covered the following 16 topics :-...

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Posted Under: Service Tax |

Inclusion of cases filed in Settlement Commission in Call-Book

Circular No. 992/16/2014-CX (26/12/2014)

Reference has been received in the Board from field that cases which are admitted in the Settlement Commission should be allowed to be transferred to Call-book in addition to the three category of cases prescribed by Board, for inclusion in Call Book, vide Circular No. 162/73/95-CX dated 14.12.1995 issued vide F. No. 101/20/93-CX.3 read w...

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Monetary limit for filing appeal in the Tribunal/Courts – CBEC Clarification

F. No. 390/Misc/163/2010-JC (26/12/2014)

Your attention is invited to Instruction of even number dated 20.10.2010 modified vide Instruction dated 17.8.2011 by which the Board had fixed monetary limits below which appeal shall not be filed in the Tribunal/Courts by the Department. As stated in the Instruction dated 17.8.2011, the present monetary limits are Rs 5 lakhs/ Rs 10 lakh...

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