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Archive: 28 December 2015

Posts in 28 December 2015

Join 2 Day Live Practical GSTAT Appeal Workshop

December 6, 2025 11709 Views 0 comment Print

A practical two-day GSTAT workshop equips professionals with drafting, presentation, and procedural skills to excel in GST appellate practice.

Digital Signature mandatory from 01.01.2016 for filing Customs documents through Remote EDI System

December 28, 2015 751 Views 0 comment Print

Registration Module : To capture the Digital Signature and update the KYC details a new Registration module is likely to be started. Please visit the New Registration Advisory and New Registration Demo under downloads section on ICEGATE home page. Digital Signature : Use of Digital Signature for filing of documents through ICEGATE has been made […]

Kelkar Committee Report on Revisiting & Revitalising PPP Model

December 28, 2015 2325 Views 0 comment Print

Report of the Committee on Revisiting and Revitalising Public Private Partnership Model (Chairman: Dr V. Kelkar)- As part of the government’s efforts to revitalize private investment, a detailed review of risks in PPPs was considered essential to rebalance the allocation of risks, while in no way diluting the essence of a PPP structure. Building upon the strengths of the mature PPP landscape in the country, which has been acknowledged internationally

TDS U/s. 194A of the Act on interest on fixed deposit made on direction of Courts-regd

December 28, 2015 5486 Views 0 comment Print

Circular No. 23/2015 Section 194A of Income Tax Act, 1961 stipulates deductions of tax at source (TDS) on interest other than interest on securities if the aggregate of amount of such interest credited or paid to the account of the payee during the financial year exceeds the specified amount .

No LPG subsidy if Taxable Income Exceeds Rs. Ten lakh

December 28, 2015 4327 Views 2 comments Print

While many consumers have given up subsidy voluntarily, it is felt that consumers in the higher income bracket should get LPG cylinders at the market price. Therefore, the Government has decided that the benefit of the LPG subsidy will not be available for LPG consumers if the consumer or his/her spouse had taxable income of more than Rs 10,00,000/- during the previous financial year computed as per the Income Tax Act, 1961.

ICAI- Restoration of Membership of the Institute

December 28, 2015 3158 Views 2 comments Print

You are invited to apply for restoration of membership by submitting Form No. 9 and update the particulars wherever necessary, if any, in case your name has been removed from the Register of Members due to non-payment of requisite fee before the due date.

FTP: Deletion of Panama from Country Group-C under MEIS Scheme

December 28, 2015 421 Views 0 comment Print

In order to address this anomaly, in exercise of powers conferred under paragraph 1.03 read with paragraph 2.04 of the Foreign Trade Policy 2015-2020, the entry “Panama” at Serial No.50 under Country Group-C of Table 1 of Appendix 3B­MEIS Schedule notified.

India Revises text of Model Bilateral Investment Treaty; Exclude Tax Matters

December 28, 2015 913 Views 0 comment Print

Henceforth, Department of Economic Affairs (DEA) will lead all negotiations on standalone BITs and investment chapters of CECAs/CEPAs/FTAs, along with representatives from the Ministries/Departments concerned, to ensure convergence between trade and investment issues.

Transfer Pricing: Revenue can’t adjust operating costs in allowing capacity adjustment

December 28, 2015 3250 Views 0 comment Print

In the case of DCIT Vs. Claas India Pvt. Ltd. Delhi Bench of ITAT have denied to approve the method adopted by AO/TPO in allowing capacity adjustments. ITAT further held that once the law enjoins for doing a particular thing in a particular manner alone

Wax used for producing cotton yarn should be treated as Raw Material – SC

December 28, 2015 4001 Views 0 comment Print

In the case of M/S. MERIDIAN INDUSTRIES LTD. V/s COMMISSIONER OF CENTRAL EXCISE, it was held that if a particular item participates in or is required for a manufacturing process, but does not form part of the end product and instead it is specifically or totally consumed during a manufacturing process, the same would be treated as ‘consumables’.

GST- A Revolution in Indirect Tax Law

December 28, 2015 4240 Views 0 comment Print

Good and Services Tax is the most logical steps towards the comprehensive indirect tax reform in India since independence. Goods and Services Tax is to be implemented shortly by the Government of India. GST is leviable on every transaction involving supply of goods and/or services as well combination thereof. However, there is still no clarity […]

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