"05 January 2015" Archive

Imposition of Anti-Dumping Duty on import of Synchronous Digital Hierarchy transmission equipment

Notification No. 01/2015-Customs (ADD) (05/01/2015)

The Central Government vide Notification No. 01/2015-Customs (ADD) dated January 5, 2015 has continued the imposition of Anti-Dumping Duty on import of Synchronous Digital Hierarchy transmission equipment originated in or exported, from People’s Republic of China and Israel, falling under Sub-Heading 8517 62 or 8517 70 of the First Sche...

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Download Form 49A, 49AA & PAN Correction Form

Download Revised Form No. 49A in for Application for Allotment of Permanent Account Number for residents, Revised Form No. 49AA Application for Allotment of Permanent Account Number for Foreign Companies, Citizens and Foreign Entities as applicable from 16.05.2014....

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Penalty U/s. 234E fetches revenue of whooping Rs. 17497 crores

In a reply to an application under RTI Act filed by CA Subin V R from Thrissur Income Tax Department has revealed the total amount collected under section 234E of the Income Tax Act in the financial year 2013-14 and from April 2014 to October 2014. As per the reply order dated 22-12-2014 the amount so collected is as under:...

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TDS-SOP on matching of Unconsumed Challan, Resolvable/Collectible Demand, G-OLTAS reconciliation etc.

1. TDS is a non-obtrusive but powerful instrument to prevent tax evasion as well as to expand the tax net. TDS also minimizes tax avoidance by the taxpayer (income earners), as the payee’s transaction(s) are reported to the Department by the third person. The contribution of TDS to the overall gross direct taxes collections during F.Y.2...

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CPE compliance date extended to 31st March, 2015

Following its earlier year trends, ICAI has extended the last date for complying with the CPE hours requirement for the Calendar Year 2014 from 31st December, 2014 to 31st March, 2015. ...

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Posted Under: Custom Duty |

Service Tax Exemption to SEZ – Absence of Control mechanism

SEZ Act provides exemption of duties of customs, central excise and service tax for operations within SEZs subject to certain conditions. In this article we have discussed issues in Compliance by SEZs of Service Tax Related provisions and problems in monitoring of misuse of such exemptions :-...

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Posted Under: Custom Duty |

CBEC Instructions on Mandatory pre-deposit of duty or penalty for filing appeal

Circular No. 993/17/2014-CX (05/01/2015)

Attention is invited to Circular No 984/08/2014-CX dated 16th September, 2014 on the captioned subject. While para 6 of this Circular laid down the procedure and manner of refund, para 7.2 clearly directed that the Commissionerates should maintain a database of the record of deposits made so as to facilitate seamless verification of the d...

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Tariff concessions on goods covered under CECA between India & Singapore

Notification No. 01/2015-Customs Duty (05/01/2015)

Revision in rates of Basic Customs Duty of specified goods imported from Republic of Singapore...

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CBDT Order No. 5 of 2015 On Transfers & Postings Of CsIT & DsIT

5 OF 2015 (05/01/2015)

Dated - 5th January, 2015 - ORDER NO. 5 OF 2015- The following transfer / posting (local changes) in the grade of Commissioner of Income Tax / Director of Income Tax are, hereby, ordered with immediate effect and until further orders:-...

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