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Archive: 04 July 2016

Posts in 04 July 2016

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

May 15, 2024 6501 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.

Change in CA syllabus under Revised Education & Training Scheme

July 4, 2016 6355 Views 0 comment Print

Number of queries are being received from the students with respect to the proposed change in the curriculum of Education and Training of CA course as to what will happen if registration is done under the Existing Scheme.

Recovery of confirmed demands during stay application pendency -reg

July 4, 2016 5092 Views 0 comment Print

Earlier the Central Government vide Circular No. 967/1/2013-CX dated 01.01.2013 provided clarification on the issue of recovery of confirmed demands during the pendency of stay application filed by the assessee. However, Hon’ble High Court of Punjab and Haryana judgment in case of M/s PML Industries Ltd. Vs Commissioner of Central Excise – 2013-TIOL-201-HC-P&H-CX pronounced that […]

TDS on interest paid by IFSC Banking Units : CBDT Clarifies

July 4, 2016 7948 Views 0 comment Print

It is observed that IBUs are branches of Indian Banks or Foreign Banks having presence in India, which are established in accordance with the RBI Scheme dated 1.4.2015, in the International Finance Service Centers that are set up in within the Special Economic Zones, as per Section 18 of the Special Economic Zone Act, 2005. Thus, the IBUs fulfil the necessary criteria for being considered Offshore Banking Units as defined in clause (u) of section 2 of the Special Economic Zones Act, 2005.

Video on key highlights of Draft Model GST Law

July 4, 2016 4585 Views 0 comment Print

After getting the Draft Model Goods and Services Tax Law on public domain on June 14, 2016, GST has been creating a buzz amongst all stake holders, eagerly waiting for the monsoon session of the Parliament to commence with the hope that the much awaited Constitutional (122nd Amendment) Bill, 2014 on GST will be passed, which will pave the way for GST in the Country.

Stamp Paper Has Validity…Yes…!!!

July 4, 2016 127060 Views 12 comments Print

The basic purpose of Indian Stamp Act, 1899 is to raise revenue for Government, and government would like to earn more money either by imposing a tax or by charging Duty and in that Duty includes the Stamp Duty, the matter is not relevant but the money is more important for government in the present scenario.

Recent case laws applicable to NGOs / Charitable Trusts

July 4, 2016 39262 Views 0 comment Print

[2015] 55 taxmann.com 255 (SC) SUPREME COURT OF INDIA Queen’s Educational Society v. Commissioner of Income-tax *In favour of assessee Where a surplus was made by educational institution which was ploughed back for educational purposes, said institution was to be held to be existed solely for educational purpose and not for purpose of profit. Also […]

Model GST Law, 2016 A Practical Analysis of Input Tax Credit, Returns, Matching of ITC

July 4, 2016 21427 Views 4 comments Print

In this write up I tried to analyse:- 1. Scheme of Input Tax Credit under Model GST Law 2. About various returns under GST and 3. Matching concept of input tax credit in GST.

Reg. supply of exempted bunker fuel to Indian Vessels from warehouse

July 4, 2016 808 Views 0 comment Print

Amendment of notification no. 17/2004-CE (NT) dated 04.09.2004 for supply of exempted bunker fuel to the specified Indian Ships / Vessels from the warehouse

Reg. Monthly Meeting to address grievances under FCRA, 2010

July 4, 2016 1258 Views 0 comment Print

In continuation to this Ministry’s circular dated 18.06.2015, it is being informed to all concerned that from July onwards the monthly meeting will be held on last Monday of every month from 3 p.m to 5 p.m. The associations who are desirous of attending monthly meeting may email their request at dirfcra-mha@gov.in.

Related Party Transactions- Section 188 – Companies Act 2013: An Insight

July 4, 2016 57232 Views 0 comment Print

A Company shall enter into any contract or arrangement with a Related Party only after taking consent of Board of Directors BY PASSING Board Resolution at Board Meeting with Respect to : 1. Sale, purchase or supply of any goods or materials 2. Appointment of any agent for purchase or sale of goods, materials , services or property

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