"15 January 2016" Archive

Delhi VAT-Filling of reconciliation return for year 2014-15- Date extended to 29.02.2016

CIRCULAR NO. 34 of 2015-16 (15/01/2016)

CIRCULAR NO. 34 of 2015-16 I, S.S.Yadav, Commissioner, Value Added Tax, do hereby extend the last date of filing of online return in Form 9 for the year 2014-15, prescribed under Rule 4 of Central Sales Tax (Delhi) Rules, 2005 to 29/2/2016....

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Notification No. 13/2016-Customs (N.T.), Dated 15th January, 2016

Notification No. 13/2016-Customs (N.T.) (15/01/2016)

Notification No. 13/2016 - Customs (N.T.) Central Board of Excise & Customs, being satisfied that it is necessary and expedient so to do, hereby makes the following amendment in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 36/2001-Customs (N.T.), dated the 3rd August, 2001, published ...

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MVAT Audit Due date extended to 21.01.2016

Considering the technical snag in uploading the 704-audit report for 2014/15,in the last week, the last date for filing 704-Audit report for the period 2014/15 is extended up to 21st January 2016. Source- http://mahavat.gov.in/Mahavat/index.jsp...

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DGFT requests Exporters of services to voluntarily obtain IEC

Trade Notice No.13/2015-20 (15/01/2016)

Trade Notice No.13/2015-20 all those exporters of services who do not possess IEC are urged to voluntarily obtain IEC from Regional Authorities of (RAs) of DGFT. All trade and industry chambers are requested to impress upon their members (exporters of services) to voluntarily obtain IEC and use it while effecting export /import of servic...

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7 CBDT Initiatives for reducing litigation

Reducing litigation with the taxpayers has been a key focus area for the Income Tax Department. Several initiatives have been taken by the Central Board of Direct Taxes in the last three months up to December 2015 to significantly reduce disputes and provide relief to taxpayers facing long standing litigation....

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Guidance Note on Meetings of the Board of Directors

The fundamental principles with respect to Board Meetings are laid down in the Act. SS-1 facilitates compliance with these principles by endeavouring to provide further clarity where there is ambiguity and establishing benchmark standards to harmonise prevalent diverse practices. For the benefit of companies, SS-1 provides necessary flexi...

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Guidance Note on General Meetings

The fundamental principles with respect to General Meetings are laid down in the Act. SS-2 facilitates compliance with these principles by endeavouring to provide further clarity where there is ambiguity or establishing benchmark standards to harmonise prevalent diverse practices. Complying with SS-2 ensures robust procedures and systems ...

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No service tax on Advance received as an earnest money for which bank guarantee of equal amount is given to the customers

Thermax Instrumentation Ltd. Vs Commissioner of Central Excise, Pune – I (CESTAT Mumbai)

Advance received as an earnest money for which bank guarantee of equal amount is given to the customers, is more in the nature of a deposit and accordingly not liable to Service tax unless it is adjusted towards the consideration for services rendered- Thermax Instrumentation Ltd. Vs. Commissioner of Central Excise, Pune – I [2015 (12) ...

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Sales tax liability of assessee could not be recovered from spouse’s property unless assessee had any right/interest in that property

Geetaben J. Patel Vs The Assistant Sales Tax Commissioner and 1 (Gujarat High Court)

It is held that mere reference to the power under Section 48A of the Gujarat Sales Tax Act doesn’t empower the Department to attach the property of the Petitioner unless it is proved that husband had any right or interest in the property of the Petitioner....

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No denial of Cenvat credit availed on invoices issued in the name of branch offices, which were not registered

Gail India Ltd. Vs Commissioner Of Central Excise And Service Tax, LTU, New Delhi (CESTAT Delhi)

The Hon’ble CESTAT, New Delhi relied upon the decisions of Tribunal in the case of Manipal Advertising Services Pvt. Ltd. Vs. C.C.E., Mangalore [2009 (10) TMI 434 - CESTAT, BANGALORE] and Well Known Polyesters Ltd. Vs. C.C.E., Vapi [2011 (1) TMI 664 - CESTAT, AHMEDABAD]...

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