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Archive: 23 May 2016

Posts in 23 May 2016

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

May 15, 2024 7050 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.

Reverse CENVAT availed on Raw Material on trf to sister unit: SC

May 23, 2016 4288 Views 0 comment Print

It was held that in case of erstwhile in terms of Rule 57AB(1C) of the Central Excise Rules, 1944 and Rule 3(4) of the Cenvat Credit Rules, 2001, it was held that in terms of circular dated 1.7.2002 by which, where no sale is involved but only a transfer by one sister unit to another, the value shown in the invoice on the basis of which Cenvat credit was taken by the assessee would be the value for the purpose of Rule 57AB and Rule 3(4).

Delhi VAT- Q7 VAT Return date extended to 27.05.2016

May 23, 2016 1561 Views 0 comment Print

I S.S.Yadav, Commissioner, Value Added Tax, do hereby extend the last date of filing of online/hard copy of fourth quarter return for the year 2015-16, in Form DVAT-16, DVAT-17 and DVAT-48 along with required annexure/enclosures to 27/05/2016.

Optional Paperless / e-assessment in Hyderabad & Kolkata

May 23, 2016 1729 Views 0 comment Print

It has now been decided to cover two more cities, namely Hyderabad and Kolkata, for implementing e-mail based communication scheme for paperless assessment proceedings. It shall now be open for all the taxpayers assessed in those seven cities, whose cases have been selected under scrutiny, to opt for being scrutinized under the e-mail based paperless assessment proceedings by giving their consent.

Reg. Rules & Forms for determining FMV of Indian & global assets

May 23, 2016 2353 Views 0 comment Print

Comments and suggestions sought from stakeholders and general public on draft rules and forms prepared for determination of fair market value of Indian and global assets and the manner for reporting requirement on the Indian concern in which the foreign company or entity holds the assets in India.

CBDT notifies Committee to Examine Rule 10VA Applications

May 23, 2016 712 Views 0 comment Print

Rule 10VA provides for mechanism of fund being approved by the Board for purpose of section 9A. The fund seeking approval is required to make an application to Member (Income-tax), CBDT. A committee as notified by the Board is to examine the application and submit its recommendations regarding grant of approval or otherwise and the conditions, if any, subject to which such approval would be granted.

‘Intermediary’ under Place of Provision of Services Rules: AAR

May 23, 2016 7501 Views 0 comment Print

As per the rules, an intermediary was defined to mean any broker, agent or similar person who arranges or facilitates the provision of services or supply of goods (inserted w.e.f. 01.10.14) between two or more persons but excluded a person who provided the main service on his own account.

Detailed Note on CSR Provisions under Companies Act, 2013

May 23, 2016 108472 Views 8 comments Print

The term ‘Corporate Social Responsibility’ (CSR) literally means the responsibility of Corporate Entities towards society. The origination of CSR was happened long back in ancient India which lasted till 1850 and Charity and Philanthropy were the main drivers of that time.

CSR Policy Amendment Rules 2016

May 23, 2016 34186 Views 0 comment Print

The Board of a company may decide to undertake its CSR activities approved by the CSR Committee, through (a) a company established under section 8 of the Act or a registered trust or a registered society, established by the company, either singly or alongwith any other company, or (b) a company established under section 8 of the Act or a registered trust or a registered society, established by the Central Government or State Government or any entity established under an Act of Parliament or a State legislature :

Modification in IEC for change in constitution & Digital sign by POA

May 23, 2016 19870 Views 0 comment Print

RAs shall henceforth consider applications seeking modification in IEC, involving change in PAN, by ensuring that liabilities of the previous applicant/applicant firm are transferred to the new applicant/applicant firm whose PAN will be reflecting in the modified IEC. RA’s must also share the modified IEC, with the changed PAN incorporated in it, with all concerned authorities.

TDS Rates Chart for FY 2016-17 / AY 2017-18

May 23, 2016 922519 Views 14 comments Print

TDS Rate Chart: TDS/TCS Rates Chart for Financial Year 2016-17/ Assessment Year 2017-18 vide Finance Act 2016 i.e Budget 2016-17.

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