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Archive: 10 February 2016

Posts in 10 February 2016

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

May 15, 2024 6501 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.

Addition of new Address functionality for NMS cases in AIMS module

February 10, 2016 979 Views 0 comment Print

NMS cases are pushed under AIMS module for further action by field formations. This module provides a functionality to issue system generated letters to the non-filers.

Versatile Investment Avenue-NSC

February 10, 2016 2722 Views 0 comment Print

This is taxing time of the year. All of us have to make good the shortfall in the investment required to be made for availing the tax benefits available for investments. Since the equity are very volatile and since the time left is very short a lump sum investment is not advisable in Equity Linked Saving Schemes.

One Person Company: A concept of Modern Age

February 10, 2016 6097 Views 0 comment Print

OPC has only one shareholder/member that give him power to run the business of the company solely on his decision, i.e., OPC gives MONOPOLY IN MANAGEMENT. Although, a maximum number of 15 directors can be appointed in OPC but it’s a benefit as more Directors can run management smoothly, and is not any legal obligation.

Negative List of Services under Service Tax

February 10, 2016 65553 Views 11 comments Print

CA Surbhi Nahata Earlier with old scheme only some specified services were taxed, but now with the new scheme all the services except negative list of services are taxed. Negative list of services is altogether a new concept put forward in Budget 2012 wherein the services covered in this list is out of the ambit […]

Negative Interest Rates risk towards pension Funds

February 10, 2016 1399 Views 0 comment Print

We have already witnessed currency war and now we are going to witness a new paradigm of interest rates where Negative Interest Rates will play replacing Zero Interest rates. After Japan now many countries across the globe would move towards this policy which will spook a bubble burst for the debt market and Sovereign Wealth Funds in the long term. Well also one thing I would discuss later in this article is that Iran is not in discussion with Saudi Arabia its European companies.

PHD Chamber’s Workshop on Audit, Investigation, Imprisonment & Customs – Drawback & Refund: Way Forward in GST

February 10, 2016 1422 Views 0 comment Print

We are happy to inform that the Last Workshop in the above series is being organised on the following Themes: Audit, Investigation, Imprisonment and Power to Arrest provisions by multiple wings of Service Tax and Excise Department Customs – Drawback, Refund, and Imposition of various Customs duties and Implication of Import/ Export of Goods or […]

Govt revises conditions for Provident Fund withdrawals

February 10, 2016 2893 Views 0 comment Print

68-NNNN. Option for withdrawal on cessation of employment.- (1) The Central Board, or where so authorised by the Central Board, the Commissioner, or any officer subordinate to him, may, on an application made by a member in such form as may be specified, authorise payment to him from his provident fund account not exceeding his own total contribution including interest thereon up to the date the payment has been authorised on ceasing to be an employee in any establishment to which the Act applies.

FAQs on Minimum Import Price & Policy for Iron & Steel

February 10, 2016 4285 Views 4 comments Print

Trade Notice No. 17/2016 This Directorate has received various queries for clarification on the Notification No. 38 dated 5th February, 2016 regarding MIP on Iron and Steel under Chapter 72 of ITC (HS) 2012. The following queries raised are clarified point-wise as under:-

Electronic Assessment – Practical aspects

February 10, 2016 5117 Views 2 comments Print

Background a) CBDT vide its notification 2/2016 dated 3-Feb-2016 has prescribed Procedure, Formats and Standards for ensuring secured transmission of electronic communication. b) I am thankful to Sandeep for providing scope for a preliminary article on this topic at https://taxguru.in/income-tax/ready-email-assessment.html c) An attempt is being made to trace the difference in manual or physical submissions […]

Mandatory recovery of advertising cost should be included in AV

February 10, 2016 1507 Views 0 comment Print

It was held that that unless cost of advertising is recovered from the dealers mandatorily as a condition of dealership, the same cannot be added to the assessable value.

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