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Archive: 05 May 2016

Posts in 05 May 2016

Notification No. 22/2016-Central Excise, Dated: 5th May, 2016

May 5, 2016 2506 Views 0 comment Print

Populated printed circuit board of,- (i) Lithium-ion battery other than battery for mobile handset [tariff item 8507 60 00]; (ii) Broadband Modem [tariff item 8517 62 30]; (iii) Router [tariff item 8517 69 30]; iv) Set-top box for gaining access to internet [tariff item 8517 69 60];

Notification No. 21/2016-Central Excise, Dated: 5th May, 2016

May 5, 2016 1993 Views 0 comment Print

sub-section (1) of section 5A of the Central Excise Act, 1944 (1 of 1944), the Central Government, being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendment in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No 2/2011-Central Excise, dated the 1st March, 2011, published in the Gazette of India

Notification No. 20/2016-Central Excise, Dated: 5th May, 2016

May 5, 2016 3178 Views 0 comment Print

GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) Notification No. 20/2016-Central Excise New Delhi, the 5th May, 2016 G.S.R. (E).- In exercise of the powers conferred by sub-section (1) section 5A of the Central Excise Act, 1944 (1 of 1944), the Central Government, being satisfied that it is necessary in the public interest so […]

Goods imported/ purchased inter-State used in Works contract, would be exempt from VAT

May 5, 2016 10060 Views 2 comments Print

Whether the movement of goods in pursuance of Works contract constituted inter-State trade as well as sale/ purchase in the course of import, covered by Section 3(a) and Section 5(2) of the Central Sales Tax Act, 1956 and thus, exempt under the Delhi Value Added Tax Act, 2004.

Relaxation in conditions for issue of certificate without tax deduction

May 5, 2016 7000 Views 3 comments Print

Income Tax Rules 29B is related to Application for certificate authorising receipt of interest and other sums without deduction of tax under sub-section (1) of section 195. In this rule one of the condition for issue of certificate was that person applying for the certificate has not been subjected to penalty under clause (iii) of sub-section (1) of section 271.

RCM ON RENT A CAB SERVICE-Is it that COMPLEX?

May 5, 2016 242317 Views 22 comments Print

It’s been a while now since the amendment has come on Reverse Charge Liability on Rent a Cab Service. But, the Finance Departments of the Big Corporates are still facing hardship in calculating the correct amount of Reverse Charge Liability they need to deposit with the Service Tax Department, especially when they receive diversified invoices from Rent a Cab Service Providers.

Delhi VAT: Engagement of Legal Assistants on Contract Basis

May 5, 2016 2101 Views 0 comment Print

Applications are invited from the eligible candidates for engagement as Legal Assistants, on contract basis, on consolidated professional fee of Rs.35,000/- per month. The applicants should have 2nd Class Degree in LL.B. or equivalent from any recognized University.

Rate of exchange of foreign currency conversion WEF 06.05.2016

May 5, 2016 2455 Views 0 comment Print

CBEC hereby determines that rate of exchange of conversion of each of the foreign currencies specified in column (2) of each of Schedule I and Schedule II annexed hereto, into Indian currency or vice versa, shall, with effect from 06th May, 2016, be the rate mentioned against it in the corresponding entry in column (3) thereof, for the purpose of the said section, relating to imported and export goods.

Applicability of Reverse Charge In Case of LLP

May 5, 2016 19912 Views 3 comments Print

According to Section 2(1)(d) of Limited Liability Partnership Act 2008, “Body Corporate” means a company as defined under the Companies Act, 1956 and includes LLP, LLP incorporated outside India, a foreign company but does not include a corporation sole, a registered co-operative society and any other body corporate notified by the Central Government.

President assents Sikh Gurdwaras (Amendment) Act, 2016

May 5, 2016 2980 Views 1 comment Print

In Sikh Gurdwaras Act, 1925 in section 49, for the proviso, the following proviso shall be substituted, namely:— Provided that no person shall be registered as an elector who—(a) trims or shaves his beard or keshas; (b) smokes; and (c) takes alcoholic drinks.

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