"29 March 2015" Archive

CENVAT Documents and Related Issues

MODVAT scheme came into existence in 1986 and over a period of 28 years lot of amendments took place, even got renamed as CENVAT, which became effective from 01.04.2000 late the cross availment of credit with service tax and central excise was introduced with effective from 10.09.2004....

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Posted Under: Excise Duty |

Websites – Tool to Corporate Governance Excellence in Corporate India

On 30th August,2013, the Companies Act, 2013 replaced the Companies Act,1956 in part after about 57 years. Part of the Act was made operative during the year 2013-14 and some during 2014-15. Other provisions are awaiting notification. ...

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Posted Under: Excise Duty |

Foreign Remittance: TDS u/s 195: Case Law Analysis 2015: Series 2

1. News story subject to royalty:(Agence France Presse vs. ADIT [2015] 167 TTJ 149 (Delhi - Trib.)) The assessee an International News Agency was having its headquarters in France. AFP had been distributing its text news and photos connected with news in India through various Indian News agencies, viz., Press Trust of India and IANS. The...

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Posted Under: Excise Duty |

Let’s “Plan” New Financial Year by following “Jai Hanuman”

Arjuna, Hanumanji has been bestowed with a variety of names such as Ram Bhakt, Pawan Putra, Anjani Putra, Maruti, etc. On the 1st of April the new financial year will begin. On this auspicious occasion of Hanuman Jayanti if one learns the principles of Hanumanji and changes are made in life and in following the tax laws then progress is ...

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Posted Under: Excise Duty |

All about Incorporation of A Company

The procedure for Incorporation of is as follows:- 1. Obtain Digital Signature- The Subscriber applying for availability of name and the proposed Directors need to have DSC. AS per Ministry of Corporate Affairs Class-II DSC is required for e-Filings under MCA21. 2. Obtain DIN- As envisaged under section 153 an individual intending to beco...

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Posted Under: Excise Duty |

Service Tax Amendments Applicable w.e.f. 01st April 2015

The Finance Bill, 2015 has proposed Lot of changes in Service tax provisions. These changes will be coming into effect on various dates. Based on date of applicability of provisions, the various changes can be categorized as follows: (i) Changes coming into effect immediately w.e.f. the 1st day of March, 2015; (ii) Changes coming into [&h...

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Ambiguity in Application of Section 234A of Income Tax Act, 1961

Interest under section 234A of the Income-tax Act, 1961 (hereinafter the Act) is charged in case of default in furnishing return of income by an assessee. The interest is charged at the specified rate on the amount of tax payable on the total income, as reduced by the amount of advance tax, TDS/TCS, any relief of tax allowed under section...

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Posted Under: Excise Duty |

E-Voting and Poll Procedure – As Per Revised Rules

Gurminder Dhami Introduction With the dawn of Companies Act, 2013 which strives towards shareholders activism, the shareholders now have an option to cast their vote electronically. The intention is to provide the shareholders opportunity to have their say at the general meeting of a company without even being present at the same. The rul...

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Posted Under: Excise Duty |

Changes to become effective in SERVICE TAX w.e.f 1st April 2015

Following Services which are currently taxable, to become exempted- 1. Transport of pulses and rice by rail, vessels or road in a goods carriage. 2. Transportation of patient in an ambulance. 3. Life Insurance services provided under the scheme of Varishtha Pension Bima Yojna. Services of Common Effluent Treatment Plant Operator for ...

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Service Tax Return for Oct 2014 to March 2015 to be available from 01.04.15

Service Tax Return (ST-3) for October 2014 to March 2015 period will be made available from 01.04.2015 for e-filing by the assesses in both offline and online version. The last date for filing the returns for the said period is 25th April 2015. The assesses can file return online or use the offline utility by […]...

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Posted Under: Excise Duty |

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