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Archive: 22 September 2016

Posts in 22 September 2016

Course on Mastering GST Sections Effortlessly with Memory Techniques!

November 28, 2024 6798 Views 0 comment Print

Simplify GST learning with memory techniques. Join live sessions, master CGST sections, and retain knowledge effortlessly. Register now for practical GST mastery!

Maharashtra VAT- 25 FAQ regarding Advance Ruling

September 22, 2016 4672 Views 1 comment Print

Section 55 of the MVAT Act, 2002 was provided for Advance Ruling. However, though in existence since 2005, it was not brought into force. New Provision: Now, existing Section 55 has been substituted by new section 55 and brought into force with effect from 15t May 2016. Section 56 of the MVAT Act, 2002 providing for determination of disputed question (DDQ) has been deleted with effect from 15t May, 2016.

ST Exemption on one time upfront amount to State Govt Industrial Development Undertakings

September 22, 2016 4171 Views 0 comment Print

Seeks to exempt taxable service provided by State Government Industrial Development Corporations/ Undertakings by way of granting long term (thirty years, or more) lease of industrial plots to industrial units from so much of service tax which is leviable on the one time upfront amount (called as premium, salami, cost, price, development charges or by any other name) payable for such lease.

Section 35AC National Committee approves 28 eligible projects or schemes

September 22, 2016 3244 Views 0 comment Print

MINISTRY OF FINANCE (Department of Revenue) NOTIFICATION No. 63/2016 New Delhi, the 22nd September, 2016 S.O. 3019(E).-In exercise of the powers conferred by sub-section (I) read with clause (b) of the Explanation to Section 35 AC of the Income Tax Act, 1961 (43 of 1961), the Central Government, on the recommendation of the National Committee […]

Section 35AC National Committee approves 26 eligible projects or schemes

September 22, 2016 2581 Views 0 comment Print

S.O. 3018(E).-In exercise of the powers conferred by sub-section (I) read with clause (b) of the Explanation to Section 35 AC of the Income Tax Act, 1961 (43 of 1961), the Central Government, on the recommendation of the National Committee for Promotion of Social and Economic Welfare, hereby notifies the institutions approved by the said National Committee, mentioned in column (2) of the Table below

AO to stamp/Print email & phone no. on Notice u/s. 143(2)

September 22, 2016 2143 Views 0 comment Print

Until the e-mail address and office telephone number of Assessing Officers are automatically printed on notices u/s. 143(2), the Assessing Officers should put a stamp/mention the details of their official email address and office telephone number on notices u/s. 143(2) before sending it to the assessees.

CBDT withdraws clarification on Sec. 138 within 2 days

September 22, 2016 3133 Views 0 comment Print

The clarification regarding Sec. 138 of the Income tax Act, 1961 with reference to CBDT earlier notification No. SO 576 dated 23/05/2003, which was issued on 21st September, 2016 vide F.No. 225/120/2016/ITA.II, is hereby withdrawn. This may be brought to the notice of all concerned.

Taxation Event – Levy: Present Vs GST– 2

September 22, 2016 6802 Views 0 comment Print

The Goods and Service Tax is a levy on supply. All intra-states supplies attract Central and State GST whereas all the inter states supplies attract IGST. Hence, Supply is at the root of GST. This is our second article in the series wherein we discuss on the term supply and its relevance in current tax structure.

Supply Under Model GST Law – Some Examples

September 22, 2016 7621 Views 0 comment Print

The Model GST Law was kept in the public domain in June 2016. It is a race against the time in order to implement the GST across the entire country by 1st April 2017.From origin based taxation system (in case of Excise and VAT/CST), GST will shift to consumption based tax system (i.e. the Taxes will go to the states where the goods and / or services are consumed).

Section 47(2)- Voting Rights of Preference Shareholders in a Company

September 22, 2016 16627 Views 1 comment Print

As per Section 47(2), Equity shareholders shall have a right to vote on every resolution while preference shareholders shall have a right to vote only on those resolutions which directly affect the rights attached to their preference shares and, any resolution

A parent guide to ensure the financial security of differently abled child

September 22, 2016 1297 Views 0 comment Print

Becoming a parent is like a blessing from the almighty. Since the day, a couple is blessed with an offspring, his/her security and well-being becomes the primary concern for the parents. Taking care of your child’s complete growth and development that includes everything from his overall well-being and a good education, is challenging.

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