"12 November 2015" Archive

CBEC Clarifications on Swachh Bharat Cess

Swachh Bharat Cess will come into effect from 15th November 2015, at the rate of 0.5% on all services, which are presently liable to service tax. This will translate into a tax of 50 paisa only on every one hundred rupees worth of taxable services. The proceeds from this cess will be used for financing and promoting Swachh Bharat initiati...

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Posted Under: Service Tax |

Swachh Bharat Cess-Air Travel, Life Insurance, Money Changing & Lottery Services

Notification No. 25/2015-Service Tax (12/11/2015)

Notification No. 25/2015-Service Tax (7D) The person liable for paying the service tax under sub-rule (7), (7A), (7B) or (7C) of rule 6, shall have the option to pay such amount as determined by multiplying total service tax liability calculated under sub-rule (7), (7A), (7B) or (7C) of rule 6 by 0.5 and dividing the product by 14 (fourte...

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Reverse charge mechanism applicable on Swachh Bharat Cess

Notification No. 24/2015-Service Tax (12/11/2015)

Notification No. 24/2015-Service Tax - notification No. 30/2012 - Service Tax, dated the 20th June, 2012, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R. 472 (E), dated the 20th June, 2012 shall be applicable for the purposes of Swachh Bharat Cess mutatis mutandis....

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Swachh Bharat Cess on abated value: CBEC

Notification No. 23/2015-Service Tax (12/11/2015)

Notification No. 23/2015-Service Tax It is hereby clarified that value of taxable services for the purposes of the Swachh Bharat Cess shall be the value as determined in accordance with the Service Tax (Determination of Value) Rules, 2006....

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Service Tax Refund/ Rebate to Exporter of Services– Analysis and Insight

Rule 6A of Service Tax Rules, 1994 is the governing rule to determine whether a particular service is export or not. Rule 6A stipulates six conditions, all the six conditions to be fulfilled cumulatively for service provided or agreed to be provided shall be treated as an export of service –...

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Why Do Waste Time in 'Worrying?' Live The Moment

In life, the only thing you have to do is breathe: everything else is optional only. No individual raindrop ever considers itself responsible for the flood. Life just gives you time and space. It's up to you avail it properly. Look at life through the windshield, not the rear-view mirror. Man cannot take pride in his self, but appreciates...

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Posted Under: Service Tax |

Swachh Bharat Cess – Not So Swachh

The thrust of Modi Government towards clean India has made the government to impose Swachh Bharat Cess. With the objective of financing and promoting Swachh Bharat initiatives, enabling provisions were made in the Finance Bill’ 2015 to empower the Central Government to impose a Swachh Bharat Cess on all or any of the taxable services [&...

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Posted Under: Service Tax |

Reopening based on facts disclosed in Profit & Loss account during Original Assessment not permissible

DCIT Vs M/s. State Farms Corporation of India Ltd. (ITAT Delhi)

DCIT vs. M/s. State Farms Corporation of India Ltd. (ITAT Delhi) Reasons had been taken from the facts disclosed in the assessee's balance sheet as well as reflected in the Profit & Loss account which were also before the AO at the time of original assessment...

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After expiry of 4 Years no notice u/s. 148 can be issued without approval of CCIT or CIT

ITO Vs Smt. Sarti Devi (ITAT Delhi)

According to Section 151(1) proviso if the Assessing Authority who is below the rank of Assistant Commissioner or the Deputy Commissioner want to re­open the 'case after the expiry of 4 years unless the Commissioner is satisfied that it is a fit case for issue of that notice. In the present case ...

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Exemption U/s. 10(23C)(iiiad) cannot be denied merely because assessee have objects other than education in its Trust Deed

ITO Vs Shri Balaji Prem Ashram & Nikhil Vidyalaya (ITAT Chandigarh)

The undisputed facts of the case are that the assessee society does not possess registration under section 12A of the Act for relevant assessment year. From the perusal of return filed by it alongwith Form No.10B shows that it intended to claim exemption under section 11 of the Act...

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Delhi VAT- Form to be submitted by dealers conducting online sales & other amendments

No. F.3(20)/Fin(Rev-I)/2015-2016/dsvi/906 (12/11/2015)

All dealers conducting sales through web portals / e-platforms of other e-commerce companies / firms are required to furnish details of such sales in Annexure IE. In case of making sales through more than one e-commerce company / firm, separate formats in Annexure 1E are to be filed for each of the e-commerce company / firm. It is further...

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Bad Advance written off is allowable expense if it was given in the course of business

M/s. Summit Investments Ltd Vs J.C.I.T (ITAT Kolkata)

The brief facts of this issue is that the assessee advanced a sum of Rs. 2 crores on 20.5.1992 to Broker Shri.Pallav Sheth under portfolio management scheme. The said broker is supposed to manage the trading portfolio of shares and securities on behalf of the assessee....

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No Violation of Section 13 on refund of Advance against property with Interest from Interested Parties

M/s Vels Institute of Science Technology & Advanced Studies Vs The Deputy Director of Income Tax (Exemptions) (ITAT Chennai)

M/s Vels Institute of Science Technology & Advanced Studies Vs. DDIT (E)- ITAT Chennai- Section 13(1)(a) says that if any part of the property or income of the Trust is given to the interested person without either adequate security or adequate interest...

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Mere valuation report not sufficient to conclude unexplained investment by Assessee

ACIT Vs Shri Jayantilal T. Jariwala (ITAT Ahmedabad)

ACIT Vs. Shri Jayantilal T. Jariwala (ITAT Ahmedabad)- In thie Case Assessing Officer found that assessee had constructed a residential house, B-3, Mamta Flats, Surat and plot No.158/21 GIDC, Pandesara, Surat. The AO was not satisfied with the cost of construction shown...

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CIT being a revisional authority not permitted to step into shoes of Assessing officer

M/s Ved Parkash Contractors Vs CIT (ITAT Chandigarh)

M/s Ved Parkash Contractors Vs. CIT (ITAT Chandigarh) - It is true that the revisional authority itself has wide power to examine the case whether the decision has been erroneous and prejudicial to the interest of Revenue and in exercise of these power modifications are permissible...

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DEPB benefits eligible for deduction under Section 10B

ACIT Vs M/s QH Talbros Ltd. (ITAT Delhi)

The present appeals filed by the Revenue are directed against the orders of CIT(A), Faridabad, dated 27.12.2011 and 20.12.2012 passed for the assessment years 2007-08 and 2008-09 respectively. The Revenue raised the following grounds of appeal in ITA No. 1321/Del/2012...

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Registration U/s. 12AA/ 80G cannot be denied by examining issues which are relevant for assessments

Hari Om Sewa Dal Vs CIT(Exemptions) (ITAT Delhi)

Hari Om Sewa Dal Vs. CIT(Exemptions)-ITAT Delhi- We find from the order of the Commissioner of Income Tax (Exemptions) that the registration under Section 12AA of the Act was denied to the appellant society solely on the ground that the appellant society had been claiming...

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S. 10B Approval received from STPL is proper approval for claiming deduction

Quality BPO Services Pvt Ltd, Vs ACIT (OSD) (ITAT Ahmedabad)

Quality BPO Services Pvt Ltd, Vs ACIT (OSD) (ITAT Ahmedabad)- The issue under appeal relates to examination of the claim of assessee under section 10B of the Act at Rs.67,08,733/- which hitherto has been disallowed by the Assessing Officer and further sustained ...

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Delhi VAT- Regarding Tax on cigarettes and amendment in Form DVAT 16

No. F.3(21)/Fin(Rev-I)/2015-2016/dsvi/907 (12/11/2015)

Amendment of rule 7- For the purposes of sub-section (10) of section 9 and sub-section (3) of section 10, in case of cigarettes (irrespective of form and length), the tax credit shall be reduced by {(R-2) I00/R} percents, where R is the rate of tax applicable as per section 4....

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Extension of Tenure of High Level Committee to interact with Trade & Industry on Tax Laws

In his Budget Speech 2014¬-15, the Union Finance Minister Shri Arun Jaitley had announced the setting-up of a High Level Committee (HLC) to interact with trade and industry and ascertain areas where clarity on tax laws is required. Accordingly, a High Level Committee (HLC) was constituted with the approval of the Finance Minister on 26th...

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Posted Under: Service Tax |

Procedure for Filing Appeals, Curing Defective Appeals & Effective Representation by revenue in HC


In the case of National Petroleum Construction Company Vs. DIT in ITA Nos. 143, 144, 533/2013 and 795/2014, Hon'ble Delhi High Court in its order dt. 13.08.2015, dt. 20.08.2015 and 28.09.2015 has directed the Income Tax Department to formulate and implement a standard operating procedure on the following three issues:...

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Delhi VAT- Forms EC-II and EC-III due date extended to 30/11/2015

No.F.3(315)/Policy/VAT/2015/ 1003-1014 (12/11/2015)

No.F.3(315)/Policy/VAT/2015/ 1003-1014 Dated:12/11/2015 Extend the last date for filing of online returns for the 1st and 2nd quarter of the year 2015-16, in Forms EC-II and EC-III to 30/11/2015....

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