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Archive: May, 2016

Posts in May, 2016

MCA may make available Form CRA-4 by 16th May 2016

May 9, 2016 2218 Views 0 comment Print

 FORM No.CRA-4 is Form for filing Cost Audit Report with the Central Government Pursuant to Rule 6(6) of the Companies (cost records and audit) rules, 2014. The form is not yet available on MCA Website for filing Purposes. The Institute of Cost Accountants of India has taken up with Ministry of Corporate Affairs which informed […]

Examination report on shipping bill must be recorded separately

May 9, 2016 1693 Views 0 comment Print

Examination report on shipping bill must be recorded separately in a self-contained and explicit manner on each of the two aspects of identity and use. The examination report should not be made of phrases that are cryptic, generalised or sweeping in nature such as ‘as per declaration’, ‘in as such condition’, ‘found in order’, ‘found as declared’, ‘goods are same’ etc.

MVAT: Constitution & Members of Advance Ruling Authority

May 9, 2016 1516 Views 0 comment Print

The Authority shall come into existence with immediate effect and shall function as per the provisions of section 55 of the Maharashtra Value Added Tax Act, 2002 and rule 63 of Maharashtra Value Added Tax Rules, 2005.

MVAT: Designation of Wednesday as Taxpayers’ Day

May 9, 2016 931 Views 0 comment Print

Further, it is declared that Service Cell Meeting of all dealers and their representatives will be held on first Saturday of third month of every quarter (i.e. June, September, December and March) at all the divisional levels.

Unique TIN under MVAT, CST, Luxury Tax, PT & Entry Tax Act

May 9, 2016 6976 Views 0 comment Print

Unique id in the form of Tax Identification Number under MVAT Act, CST Act, Luxury Tax Act and Maharashtra Tax on the Entry of Goods into Local Areas Act, 2002. It is hereby clarified that scheme of Unique TIN is equally applicable to PTRC under The Maharashtra State Tax on Professions, Trades, Callings and Employments Act, 1975 and to the Maharashtra Purchase Tax on Sugarcane Act, 1962 along with other statutes like VAT, CST, Luxury Tax Acts, and Maharashtra Tax on the Entry of Goods into Local Areas Act, having format of the TIN for PTRC as `27ab0010216P’ and for SCPT as `27ab0010216S’, respectively (ab’ is check digit).

Documents requirement as proof of permanent place of residence for Registration

May 9, 2016 9688 Views 0 comment Print

In view of the above, it is decided that dealer may upload any two documents from the 13 documents mentioned at Sr. No. (1) to (x) of point No. 6 of Table–A of Annexure A annexed to Trade Circular No 7T of 2015 and Sr. No. (xi) to (xiii) mentioned in Trade Circular No. 4T of 2016.

Reg. Import of Radio remote control apparatus

May 9, 2016 1894 Views 0 comment Print

Import of Radio remote control apparatus is `Free’ subject to licence issued by the WPC wing of Department of Telecommunications, Ministry of Communications and Information Technology.

ICSI releases 4 Practice Manual for Students

May 9, 2016 18418 Views 0 comment Print

PRACTICE MANUAL To build competency in practical oriented subjects by providing the students with a pool of solved practical problems, Practice Manual for the following papers have been released by the Institute. Cost and Management Auditing (Executive Programme) Company Accounts and Auditing Practices (Executive Programme) Advanced Tax Laws and Practice (Professional Programme) Financial Treasury and […]

Decoding concept of item code & item name under Delhi VAT

May 8, 2016 5131 Views 0 comment Print

In a move towards GST the Delhi Govt. has issued DVAT amendment rules 2016 on 12-04-2016. These rules have been issued keeping in mind the compatibility which will be required at the time of implementation of GST with effect from a future date which will be known once the constitutional amendment bill is passed in Rajya Sabha

Registration u/s 12AA cannot be denied questioning profit motive

May 8, 2016 3028 Views 2 comments Print

HC held that while disposing off an application for registration u/s 12AA , the CIT is required only to verify the geniuses of the trust’s activity so as to ensure that the same matches with the objects stated in the trust deed.

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