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Archive: 21 September 2016

Posts in 21 September 2016

Non compliance of section 32K(2) of Central Excise Act, 1944 made applicable to Service Tax matters

September 21, 2016 1252 Views 0 comment Print

As per sub-section 2 of Section 32K of the Central Excise Act, 1944 also made applicable to Service Tax matters by virtue of Section 83 of the Finance Act, 1994 and sub-section 2 of Section 127H of the Customs Act, 1962, immunity granted to a person from prosecution, penalty and fine shall stand withdrawn if such person fails to pay any sums specified under order of settlement within the stipulated time.

SEBI- Staggered/ early delivery system, early pay-in facility, changes in expiry dates

September 21, 2016 730 Views 0 comment Print

Securities and Exchange Board of India CIRCULAR SEBI/HO/CDMRD/DRMP/CIR/P/2016/90 September 21, 2016 To, The Managing Directors/Chief Executve Officers, National Commodity Derivatives Exchanges Sir/Madam, Sub: Staggered delivery, early delivery system, early pay-in facility, penalty on delivery default, fixation of FSP and changes in expiry dates 1. As per Section 131[B]of the Finance Act, 2015 all rules, directions, […]

Solutions for duplicate UANs issued to same EPF member

September 21, 2016 2731 Views 0 comment Print

It has been decided that in case of duplicate UANs issued to one EPF member as mentioned above, the following solutions are detailed below: • The members should be advised to apply for P.F. transfer from previous EPF account to the present EPF account.

Summary of Ministry of Corporate Affairs for August, 2016

September 21, 2016 1357 Views 0 comment Print

In view of the references received from stakeholders seeking clarification on the applicability of provisions of Chapter III of the Companies Act, 2013 (Act) and Rule 18 of Companies (Share Capital and Debenture) Rules, 2014 to the issue of Rupee bonds by the Indian companies exclusively to persons resident outside India

Empanelment of CA/CMA firms with SECL for Year 2016-17

September 21, 2016 4099 Views 0 comment Print

Empanelment of Chartered Accountants/Cost Accountants Partnership Firms registered with the Institute of Chartered Accountants of India / Institute of Cost Accountants of India for conducting Internal Audit of Physical Verification of Stores & Spares in SECL for the Year 2016-17.

Ordinance to amend Maharashtra Settlement of Arrears in Disputes Act 2016

September 21, 2016 715 Views 0 comment Print

(a) The clause (2) of section 2 of the Settlement Act defines the term arrears in dispute. In order to qualify any amount of tax, interest or penalty as ‘arrears in dispute’ one of the condition was that a recovery of the aforesaid arrears must have been stayed either fully or partly by the appellate authority, Tribunal or the Court.

No Excise Duty w.e.f. 16.09.2016 – Aye or Nope

September 21, 2016 43351 Views 2 comments Print

till then there was nobody talking about the Excise Duty and its existence. GST has not yet been rolled out. Even the law is under preparation as yet. Then suddenly on 16.09.2016 what happened that everybody seems to be talking about it.

GST implementation – Government’s perspective

September 21, 2016 5557 Views 0 comment Print

After the enactment of Constitutional (101st Amendment ) Act, 2016, the hope for advent of GST in India is no distant dream. GST Council has also been notified on September 15, 2016 and thus, the policy formulators have taken their positions as part of this Think-tank and shall be responsible for taking the biggest fiscal decisions of the Country.

Withdrawal of Notifications granting approval u/s 35(1)(ii) in few cases-Reg.

September 21, 2016 3340 Views 0 comment Print

I am directed to state that the Central Government had withdrawn the following notifications granting approval u/s 35(1)(ii) of the income-tax Act, 1961 to the respective entities which were notified earlier. The details are as follows:

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September 2016