"06 January 2015" Archive

Appeal to HC Not Maintainable against a Decree of Tribunal i.e. CESTAT

Advocate Anandaday Misshra Recently, Honourable  High Court of Allahabad in Central Excise Appeal  No. – 444 of 2010 of Commissioner, Central Excise, Meerut-I, Versus  M/S Suraj & Company, reported in 2014(36) S.T.R.1252(All.) held that an appeal to High Court is not maintainable against an order of Tribunal which is itself Pas...

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Posted Under: Excise Duty |

Search & Seizure Under Service Tax

The power to search the premises of the service providers are contained in section 82 of the Finance Act, 1994 which deals with provisions relating to search and seizure of articles, documents etc, as a consequence of search. Search and seizure provisions contained in tax statutes are provided to act as a restraint on evasion of taxes. Su...

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Posted Under: Excise Duty |

GST: Will it be single tax to replace Central & State indirect Taxes?

Goods & Service Tax (GST) – One Question A Day by CA Sudhir Halakhandi – PART 1 Q. The talks on GST is going on in the News papers very prominently and I came to know that GST will be a single tax replacing all the Central and State indirect Taxes and we will require […]...

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Posted Under: Excise Duty |

How To Deal With Unwanted Career Advice From Family & Friends

Before I share my thoughts, let me share a true incidence that happened in my family. One of my nephews passed class XIIth and he wasn’t sure what to do. He had taken science as his area of expertise in class XIth and XIIth, but it was sure that he perhaps didn’t want to do engineering or medical. ...

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Posted Under: Excise Duty |

Cost Auditors, Cost Records And Cost Audit

APPOINTMENT OF COST AUDITORS - The audit under sub-section (2) of Section 148 of the Companies Act, 2013 (Act) shall be conducted by a Cost Accountant in practice who shall be appointed by the Board on such remuneration as may be determined by the members (that means Shareholders to fix remuneration) in a following manner:...

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Posted Under: Excise Duty |

PPT on Goods and Services Tax (GST) in India

GST is a tax on goods and services with comprehensive and continuous chain of setoff benefits from the Producer’s point and Service provider’s point up to the retailer level....

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Posted Under: Excise Duty |

RBI relaxes charge creation norms for External Commercial Borrowings

Subsequent to amending the FEM ( Transfer or Issue of any Foreign Security) Regulations, 2000 with respect to the charge creation norms vide notification No. FEMA.322/RB-2014 dated October 14, 2014[1] effective from 3rd December, 2014, the Reserve Bank of India ( RBI) on 1st January, 2015...

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Posted Under: Excise Duty |

Notification No. 02/2015-Customs Dated- 6th of January, 2015

Notification No. 02/2015-Customs (06/01/2015)

the importer produces evidence to the satisfaction of the Assistant Commissioner of Customs or Deputy Commissioner of Customs, as the case may be, that such goods have, in fact, been locally produced in Bangladesh and are imported into India through the land route from Balat, Kalaichar or Srinagar (Tripura) land customs station for sale i...

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Format of Independent Auditors Report under Companies Act 2013

We have given below Format of the Independent Auditor’s Report on Standalone Financial Statements under the Companies Act, 2013 As Applicable from Financial Year 2014-15....

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Posted Under: Excise Duty |

Govt. notifies 19 projects of various entities for relief U/s. 35AC

Notification No. 48/2015 - Income Tax (06/01/2015)

Notification No. 48/2015 - Income Tax In exercise of the powers conferred by sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income Tax Act, 1961 (43 of 1961), the Central Government, on the recommendation of the National Committee for Promotion of Social and Economic Welfare, hereby notifies the institutio...

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