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Archive: 15 March 2016

Posts in 15 March 2016

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

May 15, 2024 6141 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.

Live Course on How to Reply to GST Notices & SCN & to Fake ITC Notices? – Last day to Register

May 15, 2024 19209 Views 0 comment Print

Join our live course to learn expert strategies for replying to GST notices, SCNs, and fake ITC notices. Understand litigation nuances, evidence insights, and practical tips for effective responses. Register now!

Delhi VAT: Extends due date of filing GE II return to 23.03.2016

March 15, 2016 877 Views 0 comment Print

I, S.S Yadav, Commissioner of Value Added Tax, Government of NCT of Delhi, do hereby direct that the returns in Form GE-II for the first three quarters of the current financial year (i.e. 1st April, 2015 to 3st June, 2015, 1st July, 2015 to 30th September, 2015 ad 1st October 2015, to 31st December 2015) are required to be filed by 23rd March, 2016 .

Clarification regarding other persons (co-noticees) U/s. 28 of Customs Act, 1962

March 15, 2016 7519 Views 0 comment Print

Vide section 22 of the Taxation Laws (Amendment) Act, 2006 (29 of 2006) a provision was inserted in the Section 28 of the Customs Act, 1962 to provide for deemed conclusion of proceedings once the person to whom a demand of duty notice has been issued has paid all dues. Subsequently vide Finance Act, 2011, section 28 was substituted with a new Section 28. The quantum of penalty amount to be paid under the said deemed conclusion proceedings was retained at 25% of the duty amount. However, vide Finance Act, 2015 the penalty payable under Section 28 was reduced to 15%.

Delhi VAT: Extends due date of filing CR-II return to 31.03.2016

March 15, 2016 1138 Views 0 comment Print

Delhi VAT returns in Form CR-II for the first three quarters of the current financial year ( i.e. 1st April, 2015 to 30th June, 2015, 1st July, 2015 to 30th September, 2015 and 1st October, 2015 to 31st December, 2015) are required-to be filed by 31st March 2016

S.9A CBDT Guidelines for off-shore fund managers

March 15, 2016 2497 Views 0 comment Print

10V. Guidelines for application of section 9A.-(1) Where the investment in the fund has been made directly by an institutional entity, the number of members and the participation interest in the fund shall be determined by looking through the said entity, if it, –

ITAT bound to follow binding decisions of jurisdictional high court

March 15, 2016 5248 Views 0 comment Print

Bombay High Court held that it is not open for the tribunal to disregard the binding decision of jurisdictional high court. Once there is a binding decision of jurisdictional high Court, the same continues to be binding on all authorities within the State till such time as it stayed and / or set aside by the Apex Court or this very Court takes a different view on an identical factual matrix or larger bench of this Court takes a view different from one already taken.

Implementation of Transfer Pricing Provisions- Recent Changes

March 15, 2016 4411 Views 0 comment Print

The transfer pricing (TP) provision has come in to place in India fifteen years ago wef AY 2002-03. Since then a number of changes and amendments has been made in the provisions of the TP. It has been a matter of discussion since beginning that when a case should be referred by the AO to the TPO and what the liabilities of the TPO & AO after such reference. The uniformity of procedure of Transfer Pricing is itself a big challenge.

Issues Relating To Declaration Forms Under CST Act

March 15, 2016 9412 Views 1 comment Print

Where goods are delivered to a carrier or other bailee for transmission, the movement of the goods shall, for the purposes of clause (b), be deemed to commence at the time of such delivery and terminate at the time when delivery is taken from such carrier or bailee.

National Coal Wage Agreement (NCWA) has a force of law; terms of NCWA should be fair and reasonable and should not be opposed to law

March 15, 2016 10008 Views 0 comment Print

The brilliant question of law that has cropped up for consideration in this petition is whether exclusion of married daughter of the deceased SECL servant for being considered for dependent employment under the terms of National Coal Wage Agreement -VI (henceforth ‘NCWA-VI”) read with National Coal Wage Agreement-IX (henceforth ‘NCWA-IX”) is just, fair and reasonable ?

Sebi allows FPIs to invest in REITs, InvIts, AIFs & Corporate Bonds

March 15, 2016 1210 Views 0 comment Print

FPIs shall be permitted to acquire NCDs/bonds, which are under default, either fully or partly, in the repayment of principal on maturity or principal installment in the case of an amortising bond. FPIs shall be guided by RBI’s definition of an amortising bond in this regard.

Issues relating to input tax credit under MVAT Act

March 15, 2016 63523 Views 4 comments Print

SECTION 48 ¢ General Conditions for claim and grant of set-off: — Purchase to be effected from Registered Dealer. — Purchase should be after appointed day. — On Tax Invoice (as per Sec 86) — Tax invoice should contain the declaration as prescribed under Rule 77. — Signed by selling dealer or his authorized representative. — Tax to be paid into the Govt treasury by supplier of goods, unless such supplier is a deferral unit under PSI.

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