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Archive: 05 January 2016

Posts in 05 January 2016

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

May 15, 2024 7170 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.

DGFT- Enlistment under Appendix 2E – Agencies Authorized to issue Certificate of Origin

January 5, 2016 570 Views 0 comment Print

Public Notice No. 54/2015-2020 The branch office of M/s Indian Industries Association at New Delhi is enlisted under Appendix 2E of FTP, 2015-2020 for issuing Certificate of Origin (Non-Preferential).

FTP- Procedure for modification/change in Branch Office/Head Office/Registered Office Address in IEC

January 5, 2016 1284 Views 0 comment Print

Public Notice No. 53/2015-2020 When an IEC holder seeks modification/change of Branch Office/Head Office/Registered Office address in its IEC and which involves a shift in its jurisdictional RA, a request to that effect will have to be made to the new RA to whose jurisdiction the applicant is shifting its Office. A copy of this request with application details is to be submitted to the old RA from where the original IEC was issued.

Service export prior to Export of service rules, 2005 are eligible for export rebate

January 5, 2016 2152 Views 0 comment Print

In the case of J.P. Morgan Services India Private Ltd. Vs. Commissioner of Central Excise(Service Tax), Mumbai, it was held that the benefit of export rebate cannot be denied even if the services are exported prior to the date when Export of Service Rules, 2005 are brought into the statute.

Refund Process under Model GST Law

January 5, 2016 3267 Views 0 comment Print

Refund refers to the amount that is due to the tax payer from the Tax Administration. According to the Report of the Joint Committee on Business Processes for GST constituted by Empowered Committee on 10th March 2014, below mentioned are the situations where refund may arise:

Registration Process under Model GST Law

January 5, 2016 5321 Views 0 comment Print

Registration of a business with the tax authorities implies obtaining a unique identification code from the concerned tax authorities so that all the information relating to the business can be agglomerated and correlated.

How to Set Off Input Tax Credit Under GST?

January 5, 2016 58119 Views 7 comments Print

Who will be entitled to set off Input Tax credit? Will any set off be allowed for credit on Input tax against Output Tax under upcoming GST? What will be the manner of utilisation of unadjusted input tax credit? Any refund???? This article will help in clarifying your doubts about the basic set off procedures […]

Why We Should Have Goods and Service Tax (GST)

January 5, 2016 4443 Views 0 comment Print

Base on First Discussion Paper on GST, despite the success with VAT, there are still certain shortcomings in the structure of VAT both at the Central and at the State level. The shortcoming in CENVAT of the Government of India lies in non-inclusion of several Central taxes in the overall framework of CENVAT, such as additional customs duty, surcharges, etc., and thus keeping the benefits of comprehensive input tax and service tax set-off out of reach for manufacturers/ dealers.

PDI & free ASS charges should not be included in assessable value – SC

January 5, 2016 4165 Views 0 comment Print

In the case of Commissioner of Central Excise, Mysore Versus M/s. TVS Motors Company Ltd, It Was Held by Supreme Court That PDI charges and free ASS charges after the sale of vehicles should not be included in the assessable value for the purpose of calculation of excise duty.

Transfer of right to carry on business by transferee carrying on business would be taxable as capital gain

January 5, 2016 3642 Views 0 comment Print

The ITAT Mumbai in the case of Monsanto India Limited held that when the assessee at the time of transfer of business agrees for a consideration not to carry on same line of business for a certain period of time , then such an arrangement is definitely a transfer(surrender) of right to carry on business .

Advertisement expenditure after Censor Board Certification allowable as business expenditure u/s 37

January 5, 2016 599 Views 0 comment Print

The ITAT Mumbai in the case of Dharma Productions Pvt. Ltd. held that the advertisement expenditure incurred after the censor board film certification would be a post-production expenditure not allowable under Rule 9A or 9B of the IT Rules, 1962.

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