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Archive: September, 2015

Posts in September, 2015

Service tax under reverse charge mechanism on Goods Transport Agency (GTA)

September 14, 2015 629023 Views 55 comments Print

The abatement for GTA service as given under notification no. 26/2012 Dated 20.06.2012 as amended from time to time is 70% and therefore 30% of service tax is liable to be paid. In fact, the abatement ratio has been amended vide notification no.8/2015 dated 1st March, 2015 and the change of abatement from 75% to 70% is w.e.f.1st April, 2015.

Safeguard Duty on Hot-Rolled Flat Products of Non-Alloy and Other Alloy Steel

September 14, 2015 6274 Views 0 comment Print

Notification No. 2/2015-Customs (SG) Notification Issued Imposing a Provisional Safeguard Duty Effective from Today on Hot-Rolled Flat Products of Non-Alloy and Other Alloy Steel in Coils of a Width of 600 MM or More [Falling Under Heading 7208 or Tariff Item 7225 30 90] at the Rate of 20% (Twenty Percent) Ad-Valorem for a Period of 200 Days

Modification of IEC to be online only from 21.09.2015

September 14, 2015 1545 Views 0 comment Print

Modifications in Electronic IECs as well as physical IECs will now be carried out online. Applicants can seek modifications in their e-IEC’s/ IEC’s by paying a fee of Rs.200/- online from the 21st of September, 2015.

Significance of Verbal Communication Skills for Professionals

September 14, 2015 2010 Views 0 comment Print

Verbal Communication- It is a modus operandi of social and commercial intercourse. An ability to communicate across barriers and beyond boundaries that have ushered the progress of mankind. Interchanging thoughts and ideas by word of mouth.

Poem on delayed ITRs and Non extension of TAR due date

September 13, 2015 6781 Views 0 comment Print

@ https://taxguru.in/ – CA Dilip Khetan वाह रे CBDT का कानून… अपनी अक्षमताओं को CBDT वाले देखो कैसे – कैसे छुपाते हैं..? ITRs में ज्यादा बदलाव नहीँ किया है, ऐसा वो सारी दुनिया को बताते हैँ। खुद तो बजट पास होने के 12 महीने बाद तक भी एक ITR तक Notify नहीं कर पाते हैं… […]

Delhi Sugam-2 (DS-2) – A Step towards Simplification

September 13, 2015 49320 Views 64 comments Print

Department of Trade and Taxes, Government of National Capital Territory of Delhi has vide notification dated 10.09.2015 notified an online Form Deihi Sugam- 2 (in short DS2) for providing ‘information to the Department in respect of goods purchased or received as stock transfer or received on consignment agreement basis from outside Delhi by all the registered dealers of Delhi.

Obligation to comply with Indian Accounting Standards (Ind AS) with effect from 1st April, 2015

September 13, 2015 7017 Views 0 comment Print

Criteria-I: The following companies shall comply with the Indian Accounting Standards (Ind AS) for the accounting periods beginning on or after 1st April, 2016, with the comparatives for the periods ending on 31st March, 2016, or thereafter, namely:-

Voluntary Appointment of Managing /Whole-Time Director or Manager by Private Companies procedure and issues

September 13, 2015 36825 Views 5 comments Print

The Ministry of Corporate Affairs vide notification dated 5th June, 2015 exempted Private Companies from obtaining shareholders’ approval, complying with Schedule V, filing of Returns for appointment of Managing Director/Whole-Time Director or Manager.

Importance of written communication skill

September 13, 2015 3981 Views 7 comments Print

As we know that communication is so fundamental and prerequisite that no person or organization can exist and function effectively and readily. No professional can be effective in his work unless he possesses good communication skill.

Government notifies 4 Cost Auditing Standards

September 13, 2015 4250 Views 0 comment Print

Government of India, Ministry of Corporate Affairs, vide their letter no. 52/33/CAB/2013 dated 10th September, 2015 has, under section 148(3) of the Companies Act, 2013, granted Central Government’s approval to the following Cost Auditing Standards:

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