Join our webinar on July 24-25 for an in-depth analysis of Union Budget 2024. Learn about tax proposals, sector impacts, and investment insights. Register now!
Join CA Sachin Jain for a live course on Input Tax Credit from a litigation perspective. Gain practical insights and master ITC complexities. Register now!
Direct investment outside India means investments, either under the Automatic Route or the Approval Route, by way of contribution to the capital or subscription to the Memorandum of a foreign entity or by way of purchase of existing shares of a foreign entity either by market purchase or private placement or through stock exchange, signifying a long-term interest in the foreign entity (JV or WOS).
CA Vivek Rajan. V 1. Background : The Ministry of Corporate Affairs [ MCA] vide its notice dated 9th February 2016 had invited suggestions/ comments along with justification in brief on the draft Companies ( Auditor’s Report) Order, 2016, (CARO, 2016). This article contains the suggestions/ comments.
You are aware that the ‘Special Valuation Branch was created as institution specialising in investing transactions involving relationship between foreign supplier and importer or those involving other special circumstances surrounding the sale of imported goods, both of which a bearing on the assessable value.
The Finance Act (No.2), 2014 and the recent, Finance Act, 2015 clearly spelled out tax treatment of all possible streams of income for all parties associated with a REIT which paved the way towards introducing an internationally acclaimed investment structure in India. More than 30 countries around the world have established REIT regimes, with more countries in the work. Let us understand the REIT regime in its true sense.
Present Indirect Tax structure of India provides various levies and taxable events in respect of such levies vary, depending upon the nature of tax. The four major constituents of present Indirect Tax structure and taxable events thereof can be described as under:
It was held that excise amount paid on account of inter unit transfer higher than amount arrived as per CAS-4 cannot be treated as non compliance and the CENVAT credit of the same can be availed by the other unit.
Re-look at the amended penalty provisions contained in section 78 of the Finance Act, 1994/Section 11AC of the Central Excise Act, 1944:-The provision distinguishing the quantum of penalties in section 11AC in cases where short-payment or non-payments have arisen for reasons other than fraud and restricting penalties upto 10% of the tax or Rs. 5000 whichever is higher was appreciated.
This circular cannot be made use of for legal interpretation of provisions of law as it is clarificatory in nature. If any member of the trade has any doubt, the same may be referred to this office for further clarification. You are requested to bring contents of this circular to the notice of the members of your association.
Sachin Tendulkar, who was also the master mentor of the initiative, said, Aviva and I have worked together on various initiatives that have helped identify the aspirations of Young India. I had an early start in my career due to the support of my family. India, today, is buzzing with many bright minds and I am very happy to partner personalities, who are renowned professionals in their respective fields, to enable these kids live their dreams.
A AAI : Airport Authority of India AAR : Authority for Advance Ruling AC/DC : Assistant Commissioner/Deputy Commissioner ACAO : Assistant Chief Account Officer ACES : Automation of Central Excise and Service Tax ACES-CFC : ACES Certified Facilitation Center ACP : Accredited Client Programme ACC : Air Cargo Complex AD /DD : Assistant Director/Deputy Director […]
