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Archive: 08 July 2016

Posts in 08 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.

Shifting of Registered office within local limits of any City, Town or Village

July 8, 2016 99834 Views 7 comments Print

REGISTERED OFFICE- Shifting From one place to another within the local limits of any City, Town or Village-Registered office of a company is a principle place of business activity of a company. It is mandatory for all companies to have its registered office and to inform the Registrar of Companies (ROC) about the location and any change thereto within the prescribed time.

POT for Krishi Kalyan Cess (KKC)

July 8, 2016 22784 Views 0 comment Print

1. POT for determination of KKC liability for Service Provider (SP): Rule 5 is applicable for determination of KKC liability for Service Provider (SP) due to the amendment in Budget 2016-17 and Notification No. 35/2016 also clarifies the applicability of KKC.

Growth in Direct/Indirect tax collection of 1st quarter of 2016-17

July 8, 2016 15653 Views 0 comment Print

The direct tax collections upto June, 2016 indicate net revenue collection of Rs.1.24 lakh crore which is a growth of 24.79% over the corresponding period last year. The main reason for this increase is the change in the requirements for advance tax payment even in respect of individuals which has been made in the last year’s Budget.

Assessment without allowing assessing to cross examine deponent not valid

July 8, 2016 2128 Views 0 comment Print

In the instant case although the appellant assessee has called upon us to draw an inference that the burden shifted to the revenue in the present case once it was established that the payments were made and repaid by cheque we need not hasten and adopt that view after having given our thought to various […]

Mesne profits is a capital receipt and not chargeable to tax

July 8, 2016 4798 Views 0 comment Print

Whether on the facts and in the circumstance of the case and in law, the Tribunal was correct in holding that mesne profits are capital receipts in the hands of the assessee and not revenue receipts chargeable to tax?

Payment to Master & Visa without tax deduction is not disallowable

July 8, 2016 3244 Views 1 comment Print

Whether on the facts and in the circumstances of the case and in law, the Tribunal is correct in holding that payment to Master Card International and Visa Card International without deduction of tax at source is not disallowable u/s. 40(a)(i) in view of the Article 26(3) of the Indo US DTAA, when the provisions […]

OECD & FAO see likely end to period of high agricultural prices

July 8, 2016 601 Views 0 comment Print

The recent period of high agricultural commodity prices is most likely over, say the OECD and FAO in their latest 10-year Outlook. But the two organisations warn of the need to be vigilant as the probability of a major price swing remains high.

Job market recovering but wage growth remains weak: OECD

July 8, 2016 751 Views 0 comment Print

Labour markets are continuing to recover from the crisis and employment is set to return to pre-crisis levels in 2017, but wage growth remains weak, according to a new OECD report.

Chhattisgarh Madhyastham Adhikaran has inherent power U/s. 17A of Chhattisgarh Madhyastham Adhikaran Adhiniyam, 1983 to restore reference petition for hearing on merits

July 8, 2016 2067 Views 0 comment Print

1. Invoking the revisional jurisdiction of this Court under Section 19 of the Chhattisgarh Madhyastham Adhikaran Adhiniyam, 1983 (hereinafter called as ‘the Act of 1983’ for short), the petitioners herein (contractors) have filed these revisions questioning the legality, validity and correctness of the impugned order(s) dated 7-5-2013 passed by the learned Chhattisgarh Madhyastham Adhikaran, Raipur (hereinafter called as ‘the Arbitration Tribunal’ for short), whereby their applications filed under Section 17-A of the Act of 1983 for recalling the order dated 13-1-2012 and restoration of reference petitions filed, were dismissed on the ground of lack of jurisdiction / non-maintainability by the Arbitration Tribunal constituted under the Act of 1983.

SEBI (Foreign Portfolio Investors) (Amendment) Regulations, 2016

July 8, 2016 1111 Views 0 comment Print

A foreign portfolio investor shall ensure that any transfer of offshore derivative instruments issued by or on behalf of it, is made subject to the following conditions: (a) such offshore derivative instruments are transferred to persons subject to fulfilment of sub-regulation (1); and (b) prior consent of the foreign portfolio investor is obtained for such transfer,except when the persons to whom the offshore derivative instruments are to be transferred to are pre-approved by the foreign portfolio investor.

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