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Archive: 24 August 2016

Posts in 24 August 2016

MVAT: e-application under Arrear Settlement Act 2016 & FAQs

August 24, 2016 2933 Views 0 comment Print

The present Trade Circular is divided into two parts. PART-1 deals with the submission of application under Settlement Act electronically whereas the PART-11 covers the certain queries related to the Settlement Act.

FTP: Constitution of Grievance Redressal Committee

August 24, 2016 706 Views 0 comment Print

Para 9.08 of HBP, 2015-2020 provides for a grievance committee at the level of DGFT, HQ and at the Zonal RAs for speedy redressal of grievances of trade and industry pertaining to the Foreign Trade Policy (FTP) and the related procedure.

GST – It is not as simple as it made to appear

August 24, 2016 14390 Views 0 comment Print

GST it is popularly believed that it is a “Single rate” taxation with a myth that “One India” “One Rate”. Most of the people start appreciating the move without understanding the real intention of the State and Central legislators.

Cabinet approves Agreement & Protocol between India & Cyprus

August 24, 2016 1385 Views 0 comment Print

India, today took another major step in the fight against tax evasion, round tripping and base erosion/profit shifting. The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has given its approval for signing of an Agreement and the Protocol between the India and Cyprus for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with respect to Taxes on Income.

A vital role of Business Economist in taking Business Decisions

August 24, 2016 114761 Views 0 comment Print

Neha Dinde As we all aware that business economics is the application of economic theory and methodology to business. Business economics is a field where it uses economic theory & quantitative methods to analyze business enterprises. Business involves decision making. Decision making means the process of selecting one out of two or more alternative courses […]

Mutual funds – The proven investment formula

August 24, 2016 3683 Views 0 comment Print

Understanding the nuances of investing in mutual funds requires hard work and the returns take on a learning curve. With meticulous planning, the rewards from mutual funds will far outweigh the required efforts. To know more about mutual funds and its different flavors, do read the following section on how these can be suited for individual investment requirements.

EPF- Delinking of wrongly linked UANs-reg

August 24, 2016 5900 Views 0 comment Print

It has been informed by few employers, members and field offices that member IDs o members in some cases have been wrongly linked to UAN of other members. This has happened because of wrong approval by the employer . It has been requested to delink the member IDs from such wrongly linked UANs.

Taxability of business done by NRI through Power of Attorney holder

August 24, 2016 2337 Views 0 comment Print

Assessee submitted that project receipt from Tanakpur Power Project of NHPC work is exempt from tax in India for the reason that assessee does not have continuous presence or ‘business connection’ or a permanent establishment in India.

Point in Time when Goods / Services shall be taxable under GST

August 24, 2016 17030 Views 5 comments Print

To understand various scenarios & determinants when the Goods or Services shall be taxable under the new GST Regime. The answer lies in understanding Time of Supply Rules for Goods & Services as specified in Chapter IV of Draft GST Law. These rules shall be the determinants of the point in time when the goods & services shall become taxable.

Coinage (Issue of Commemorative Coins on the Occasion of University of Mysore Centenary Celebrations Rules, 2016

August 24, 2016 391 Views 0 comment Print

Denomination of coins.—The coins of the following denominations shall also be coined at the Mint for issue under the authority of the Central Government to commemorate the occasion of University of Mysore Centenary Celebrations, namely

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