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Archive: 10 December 2015

Posts in 10 December 2015

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

May 15, 2024 6744 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.

Collegium system to consider withdrawal of frivolous appeals filed before High Court

December 10, 2015 2413 Views 0 comment Print

F. No. 279/Misc/52/2014-(ITJ) It has now been decided to extend this collegium system to also consider withdrawal of appeals from the high Courts where the same are no longer considered prosecutable. The collegium system existing in multi-CCsIT stations would be responsible for reviewing all appeals pending before the High Courts relating to the jurisdictional CCIT.

31 Points You Must Know About MODEL GST ACT, 2016 (Section Wise Avenue Analysis)

December 10, 2015 58853 Views 0 comment Print

The Model GST Act, 2016 released by Sub-Committee II Report is yet to be authenticated since it is not available and hosted on government’s website. Nonetheless, we try to analyse the significant areas outlined in the Model GST Act, 2016 which needs significant attention / discussion of trade at large and law-makers as well. The Law to be implemented in finality needs to be progressive.

The Integrated Goods and Services Tax Act, 2016 (IGST)

December 10, 2015 8654 Views 0 comment Print

This act may be called the Integrated Goods and Services Tax Act, 2016. It extends to whole India. IGST applicable on all supplies of goods/services in the course of Inter-state trade or commerce. State includes Union Territory. However a supply of goods/services in the course of import in India shall be deemed to be an Inter-state supply. Supply of goods shall be deemed to take place in the course of Inter-state if the location of the supplier and the place of such supply are in different states.

Clarification regarding defective notices issued to FII/FPIs-reg

December 10, 2015 832 Views 0 comment Print

Notices of defective returns were issued under section 139(9) of the Income-tax Act to Foreign Institutional Investors/Foreign Portfolio Investors (FIIs/FPIs) in cases where Balance Sheet and P&L account were not filled.

New facility of pre-filling TDS data while submitting online rectification -reg.

December 10, 2015 2780 Views 0 comment Print

Central Board of Direct Taxes has simplified the process of online rectification of incorrect TDS details filed in the Income Tax Return. Taxpayers were required to fill in complete details of the entire TDS schedule while applying for rectification on the e-filing portal of the Income-tax Department (www.incometaxindiaefiling.gov.in). Errors due to incomplete TDS details in rectification applications were leading to delays in processing of such applications thereby causing hardship to the taxpayers.

Provisions related to Valuation under proposed GST Law

December 10, 2015 2511 Views 0 comment Print

In first week of December 2015, the draft GST law was published on the web portals of few State Governments. In this article, the author has tried to decode the provisions of valuation in the draft GST law.

CEA Panel Report bats for lower exemptions and higher threshold for GST

December 10, 2015 928 Views 0 comment Print

The Committee headed by the Chief Economic Adviser Dr. Arvind Subramanian , had given its recommendations to the Finance Minister last week, recommending a four-tier rate structure wherein some essential items will be taxed at 12%, gold and precious metals at 2-6%, some so-called sin or demerit goods like luxury cars and tobacco products at 40% and most goods and all services at 17-18%.

Notification No. 141/2015-Customs (N.T.) Dated: 10/12/2015

December 10, 2015 355 Views 0 comment Print

In exercise of the powers conferred by sub-section (1) of section 4 and sub-section (1) of section 5 of the Customs Act, 1962 (52 of 1962), the Central Board of Excise and Customs hereby appoints the Commissioner of Customs, Hyderabad Custom

Notification No. 140/2015-Customs (N.T.) Dated: 10/12/2015

December 10, 2015 313 Views 0 comment Print

[To be published in the Gazette of India, Extraordinary, Part-II, Section 3, Sub-section (ii)]            Government of India Ministry of Finance Department of Revenue (Central Board of Excise and Customs) Notification No. 140/2015-Customs (N.T.) New Delhi, the 10th December, 2015 S.O. (E). -In exercise of the powers conferred by sub-section (1) of section 4 and sub-section […]

Notification No. 139/2015-Customs (N.T.) Dated: 10/12/2015

December 10, 2015 235 Views 0 comment Print

In exercise of the powers conferred by sub-section (1) of section 4 and sub-section (1) of section 5 of the Customs Act, 1962 (52 of 1962), the Central Board of Excise and Customs hereby appoints the Joint or Additional Commissioner of Customs

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