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Archive: 01 April 2015

Posts in 01 April 2015

Free YouTube Live on The global landscape –  from market’s to trade

May 24, 2024 576 Views 0 comment Print

Join us for an insightful and dynamic YouTube Live session on “The global landscape –  from market’s to trade.” with renowned financial analyst Ankit Baid, MBA Finance. The presentation explores shifting of the global economic landscape, focusing on the decline of US dominance and the rise of China. It examines the potential decrease in global […]

Live Course on Appeal, Pleading & Drafting under GST by CA Sachin Jain

May 15, 2024 7500 Views 0 comment Print

oin us for an immersive live course led by renowned expert CA Sachin Jain, as we delve into the intricacies of appeal, pleading, and drafting under GST.

Posting Income Tax Inspectors in Directorate of Systems for setting up of Project Insight/CPC-Compliance Management

April 1, 2015 3330 Views 0 comment Print

Approval of the competent authority is conveyed for posting of the following officials for posting in Directorate of Systems for setting up of “Project Insight”/CPC-Compliance Management (CPC-CM) under provisions of CPC-Staffing Scheme by diversion of posts with

Doubtful fate of refund on Deemed exports

April 1, 2015 2617 Views 0 comment Print

The Hon’ble Prime Minister, in order to encourage Companies to manufacture their products in India has launched initiative named ‘Make in India’ on September 25, 2014. This had not only helped Indian manufacturers to enhance their capital base as there are proposed relaxations in the policy of Foreign Direct Investment but also produce their products […]

Aftermath of non-excisable goods being equated to exempted goods/ final products for Rule 6 of Cenvat Credit Rules, 2004

April 1, 2015 8120 Views 0 comment Print

Vide Notification No. 6/2015-CE(NT) dated March 1, 2015, Explanation-I to Rule 6(1) of the Credit Rules have been inserted to state that w.e.f March 1, 2015, for the purpose of this Rule, exempted goods and final products shall include non-excisable goods cleared for a consideration from the factory:

Interest on Wrong availment of Cenvat Credit but not utilised – a tale of never ending litigation and interpretational issues

April 1, 2015 69661 Views 5 comments Print

Over the years, Rule 14 of the Credit Rules has always been the matter of concern/ litigation for both the Revenue and the Assessee. Even the Courts have taken divergent views while interpreting the provisions of Rule 14 of the Credit Rules. Before we proceed to understand the changes made in Rule 14 of the […]

Increase in time limit for availing Cenvat credit on Input services and Inputs – Whether applicable on invoices issued prior to March 1, 2015?

April 1, 2015 141823 Views 10 comments Print

Till September 1, 2014, there was no time limit prescribed under the Credit Rules for availment of Cenvat credit. Various Courts have held that in the absence of any time limit prescribed under the Credit Rules, Cenvat credit can be taken at any time even in some cases, Assessees have been allowed to avail Cenvat […]

Budget, 2015: Changes in Cenvat Credit Rules, 2004 and its impact

April 1, 2015 61457 Views 0 comment Print

In the Union Budget, 2015 presented by the Hon’ble Finance Minister Shri Arun Jaitley on February 28, 2015, Saturday, numerous changes in the Indirect taxes, have been introduced to combat/ surpass the challenges encountered in the way of progress of continued growth and to pave way for smooth implementation of Goods and Services tax (GST). […]

Ponzi Virus that floored companies & investors like Tsunami – Companies Act, 1956 & Companies Act, 2013

April 1, 2015 1139 Views 0 comment Print

In 2013 and 2014 Ponzi Virus attacked companies and brought them down to their knees. Public at large were see to suffer. There were deaths, hue and cry all round. Governments stood shaken. Supreme Court had to intervene. About 200 plus companies were named having engaging money circulation schemes without SEBI registration which is mandatory.

Form 26AS, it’s worth the effort, check it!

April 1, 2015 8952 Views 2 comments Print

This article is primarily meant for interest earners wherein they earn interest income from Fixed deposits and etc. other interest bearing instruments. While putting money in Fixed deposits and etc. other interest bearing instruments, quite some number of us do not give a duly filled and signed Form 15G for lower/non-deduction of Tax Deducted at […]

All about External Commercial Borrowings (ECB)

April 1, 2015 91161 Views 9 comments Print

External Commercial Borrowings (ECB) refer to commercial loans in the form of bank loans, buyers’ credit, suppliers’ credit, securitized instruments (e.g. floating rate notes and fixed rate bonds, non-convertible, optionally convertible or partially convertible preference shares) availed of from non-resident lenders with a minimum average maturity of 3 years.

8 Important Changes in Foreign Trade Policy 2015-2020

April 1, 2015 13923 Views 0 comment Print

Five different schemes(Focus Product Scheme, Market Linked Focus Product Scheme, Focus Market Scheme, Agri Infrastructure Incentive Scrip, VKGUY) merged into single unconditional scheme named as Merchandise Export from India Scheme(MEIS);

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