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Archive: 12 April 2016

Posts in 12 April 2016

Catering charges should be included in Mandap keeper service

April 12, 2016 4735 Views 1 comment Print

It was held that in case of mandap keeper service, the catering charges (cost of buffet dinners) was not entirely excludable from the assessable value and therefore the appellant was eligible only for the benefit of abatement of 40% as per Notification No.12/2001-ST, dated 20.12.2001.

No service tax on notional interest of security deposit

April 12, 2016 3910 Views 0 comment Print

It was held that service tax is not payable on the notional interest accrued on the security deposit received on providing immovable property on rent.

DELHI VAT Composition Scheme and FAQs

April 12, 2016 20332 Views 1 comment Print

Ankit Gupta Composition scheme is the scheme to facilitate small dealers (whose turnover in one year does not exceeds Rs.50 Lac) to pay D-VAT at flat rate of 1% without claiming Input Tax Credits in respect of VAT paid on local purchases made from registered dealers. 1.Who Can apply for Composition Scheme? Any dealer whose […]

Delhi VAT: Amends form DVAT 16, 17, 30, 31 wef 12.04.2016

April 12, 2016 3712 Views 0 comment Print

Delhi Value Added Tax (Amendment) Rules, 2016- Transmit (i) quarter wise and invoice wise Purchase and Sales data maintained in Form DVAT-30 and 31 OR (ii) quarter wisp and dealer wise summary of purchase and sales in Annexure-2A and 2B appended to Form. Purchase/Sale made from un-registered dealers may be entered in one row for a quarter.

ICAI withdraws its publication of Excise Law on Jewellery Industry

April 12, 2016 7663 Views 3 comments Print

The publication Central Excise Law and Procedure for Jewellery Industry has been brought out by Indirect Taxes Committee of ICAI to familiarize the members and the industry with the various provisions of excise law and procedures pertaining to the levy of excise duty on jewellery. The response to the publication has been encouraging.

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