"27 January 2016" Archive

Extension of validity of Agencies as listed in the Appendix 2G of A&ANF of FTP 2015-20 up till 31.05.2016

Public Notice No. 57/2015-2020-DGFT 27/01/2016

The validity of recognition of those Pre-shipment Inspection Agencies (PSIAs) included in the Appendix 2G of Appendices and Aayat Niryat Forms (A&ANF) of Foreign Trade Policy (2015-20) who have completed their tenure of three years as PISAs as on date or whose validity would expire on or before 31st May, 2016, is extended up till 31st Ma...

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Delhi VAT: Reg. issuance of statutory forms under Central Sales Tax Act, 1956

Circular No. 35 of 2015-16 27/01/2016

Circular No. 35 of 2015-16 The facility of auto-downloading of the forms shall not be available to the dealer for the tax period in cases in which the ratio of sale to purchase, including stock transfer and local transactions, falls below 45%. The statutory forms in such cases shall be available for auto downloading on the basis of sale a...

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Kerala HC stays Retrospective Provisions of Payment of Bonus (Amendment) Act, 2015

United Planters Association of Southern India Vs UOI (Kerala High Court)

Hon'ble Kerala High Court in the case of The United Planters Association of Southern India Vs. Union of India, Stayed the Operation and Implementation of Payment of Bonus (Amendment) Act, 2015 to the extent the same gives retrospective from 01.04.2014...

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Eligibility Of S.T.P Units and Computation of Their Profits For Deduction U/s. 10A of Income-Tax Act, 1961

Ten year tax holiday is available under section 10A to certain undertakings in free trade zones, electronic hardware technology parks, software technology parks or in special economic zones. The exemption is however subject to fulfillment of certain conditions. What are these conditions and how to meet them to avail the maximum benefit is...

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Posted Under: DGFT |

Penalty U/s. 271C whether leviable for non-deduction of tax from salary paid abroad

number of foreign companies have established their liaison offices in India. The liaison offices of these foreign companies engage a number of employees in their offices in India. Some of the employees are deputed to these liaison offices by the parent companies from abroad. Such expatriate employees continue to be on the pay-roll of the...

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Posted Under: DGFT |

Expenditure on repairs and renovations of accommodation provided to employee is not a perquisite

The present opinion relates to the issue whether expenditure on repairs and renovations by the employer, in respect of an accommodation occupied by the employee, could be brought to tax as a perquisite in the hands of the employee. This opinion is being provided, because there are situations where the employer has to incur expenditure on ...

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Posted Under: DGFT |

Licence/ Royalty fees to facilitate Trading Operation & Effective Management is Revenue in Nature

DCIT Vs Hitz FM Radio India Ltd. (ITAT Delhi)

ITAT Delhi held in case of DCIT v Hitz FM Radio India Ltd. that expenditure related to licence fee and royalty which helps merely in facilitating the assessee’s trading operations or enabling the management to be carried more effectively is revenue in nature even if advantage may endure for an indefinite future....

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Security services by Trust in confirmation to its objects for general public utility will be considered as “charitable” in Nature

Gujarat Industrial Security Force Society Vs Dy. DIT (Exemption), (ITAT Ahmedabad)

In the case of Gujarat Industrial Security Force Society v Dy. DIT (Exemption) it was held that the activity related to providing security services whose objective was to provide employment to youth and retired army personnel will not be treated as business activity but an activity which is charitable in nature....

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Proceedings under rule declared unconstitutional by HC in invalid

Vipul-S Plasticrafts P. Ltd. Vs CCEx, Pune I (CESTAT Mumbai)

The CESTAT Mumbai in the case of Vipul-S Plasticrafts P. Ltd. vs. Commissioner of Central Excise held that when the rule under which duty is sought to be demanded itself has been struck down as unconstitutional by various High Courts, the show-cause notice which are based upon rule 8(3A) cannot survive and are liable to be set aside....

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Composition of mixture important for classifying fertiliser-CESTAT

M/s. Sree Ramcides Chemicals Pvt. Ltd. Vs CCE & ST, Tiruchirapalli (CESTAT Chennai)

for the purpose of classification of fertilisers, it is important to see where the products consists of nitrogen phosphorous and potassium as laid down in the explanatory notes, it should be classified as fertilizers....

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