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Archive: 08 March 2016

Posts in 08 March 2016

15 Steps taken by Govt. for welfare of indirect tax payers

March 8, 2016 3397 Views 0 comment Print

1. Establishment of 24X7 customs clearance facility in 17 airports and 18 seaports. 2. Customs Single Window Clearance Project for faster customs clearance. 3. Implementation of e-BRC (BRC-Bank Realization Certificate) module

KGMA’s Guide to Significant Direct Tax Proposals of Budget 2016

March 8, 2016 12673 Views 0 comment Print

Google Tax: India has taken the first step to tax the digital economy. An equalisation levy–a deduction of 6% to be made by an Indian payer on payments to a nonresident entity for specified B2B services such as advertising—has been introduced in the Budget. The levy will impact the bottom lines of giants such as Google, Yahoo and others, which earn ad revenue from business entities in India.

Take flight of your dreams: Happy Women's day

March 8, 2016 3922 Views 1 comment Print

Our CA Profession is also not deprived of this gender discrimination. We have girls in huge numbers joining the course and also completing the course with flying colours but the number of girls or Female CA that join the main stream profession are very less in numbers.

Impact of service tax on Cab arrangements in a Hotel/ Restaurant

March 8, 2016 11560 Views 5 comments Print

Different options available to a Hotel for providing Cab services: Any Star Hotel and other establishment alike Hotel business may have an option to choose one of the following ways for providing cab services to their Guests.

15 Days Paternity Leave to Bank Employees

March 8, 2016 3928 Views 0 comment Print

Male employees with less than two surviving children shall be eligible for 15 days paternity leave during his wife’s confinement and may be availed upto 15 days before or upto 6 months from the date of delivery of the child.

3.90 Lakh Companies Not filed Annual Return for 2015

March 8, 2016 4687 Views 1 comment Print

However, several companies have not submitted their annual report/return, audited report, balance sheet and details of profit/loss. As per data generated from MCA 21 System, following are the details of companies who have not filed their Balance Sheets and Annual Returns:-

Assessment time cannot be extended if it already becomes time barred: SC

March 8, 2016 3781 Views 0 comment Print

Supreme Court, in State of Punjab Vs. M/s. Shreyans Indus Ltd., has held that power of the Sales Tax Commissioner to extend the time to pass an order on assessment is to be exercised before the normal period of assessment expires.

CBI Registers case against 5 Bank Employees, A CA & 3 others in Rs.1000 Crore Fraud Case

March 8, 2016 7624 Views 0 comment Print

CBI REGISTERS A CASE AGAINST THEN GENERAL MANAGER & FOUR OTHER OFFICIALS OF SYNDICATE BANK AND OTHERS INCLUDING A CHARTERED ACCOUNTANT & THREE PRIVATE PERSONS FOR CAUSING AN ALLEGED LOSS OF RS.1000 CRORE(APPROX) TO BANK The Central Bureau of Investigation has registered a case on a complaint from Syndicate Bank U/s 120-B r/w 409, 420, […]

Anti-dumping duty on Polypropylene for a period of five years

March 8, 2016 3382 Views 0 comment Print

seeks to levy definitive anti-dumping duty on Polypropylene, originating in, or exported from Singapore, for a period of five years GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) Notification No. 7/2016-Customs (ADD)  New Delhi, the 8th March, 2016 G.S.R. 285 (E).- Whereas, the designated authority, vide  notification No. 15/14/2014-DGAD, dated the 28th July, 2014, […]

Anti-dumping duty on Phenol for a period of five years

March 8, 2016 1999 Views 0 comment Print

Seeks to levy definitive anti-dumping duty on Phenol, originating in, or exported from the European Union, Singapore and Korea RP, for a period of five years

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