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Archive: 27 October 2016

Posts in 27 October 2016

Concept of Revision Application in Indirect Taxes

October 27, 2016 5944 Views 0 comment Print

Revision Application Unit of the Department of Revenue, Ministry of Finance, Government of India deals with the Revision Applications filed before Central Government in specified Customs and Central Excise matters under section 35 EE of Central Excise Act, 1944 and section 129 DD of Customs Act, 1962

GST: Effective Tools to Price Control & Anti-Profiteering Law

October 27, 2016 3613 Views 0 comment Print

Price Control & Anti-Profiteering Law is essential to alleviate concerns among consumers to ensure unreasonable increase in prices of goods and services in anticipation of introduction of GST regime.

Transferability of goods imported/procured by debiting duty in SFIS scrips– reg

October 27, 2016 1156 Views 0 comment Print

The goods imported/procured utilizing SFIS Scrip issued in terms of FTP 2009-14 may be sold/transferred on completion of 3 years from the date of clearance of import/ procurement

RBI Circular on Detection and Impounding of Counterfeit Notes

October 27, 2016 1615 Views 0 comment Print

Some unscrupulous elements are putting into circulation Fake Indian Currency Notes of higher denominations in the course of normal transactions, taking advantage of the gullible and unsuspecting nature of some members of the public.

External Commercial Borrowings (ECB) by Startups

October 27, 2016 1339 Views 0 comment Print

It is therefore decided, in consultation with the Government of India to permit AD Category-I banks to allow Startups to raise ECB under the following framework:

Transfer of criminal case not permissible on imaginary or artificial apprehension that justice may not be done

October 27, 2016 3891 Views 0 comment Print

The principle that there should not be an apprehension on the part of the party to the case that justice will not be done is not to be applied in extract terms nor the principle that once one of the accused in the case has lodged a complaint against the presiding officer, the case should necessarily be transferred.

ICAI group to look into changes need in CAs Act, 1949

October 27, 2016 1690 Views 0 comment Print

Group to look into the intricacies involved in areas wherein changes need to be made and amendments to the Chartered Accountants Act, 1949 pertinent to Disciplinary Mechanism and the Rules framed there under

Salient features of EPF Universal Account Number version 2.0

October 27, 2016 3718 Views 1 comment Print

EPFO is in the process of development and implementation of next version of UAN, whereby the Universal Account Number of an EPF member is to be obtained/linked with present employment by the employer before filing the ECR.

MVAT: Exemption from payment of Tax for oil company u/s 41(4)

October 27, 2016 8815 Views 0 comment Print

Govt of Maharashtra, hereby amends with effect from 21.10.2016 Government Notification, Finance Department, No. VAT 1512/CR 18/ Taxation-1, dated the 29.02.2012, as follows, namely

Supply, Time & Place of Supply of Goods / Services under GST

October 27, 2016 12253 Views 0 comment Print

Goods and Services Tax (GST) is a destination based consumption tax levied at multiple stages of production and distribution of goods and services, with taxes on inputs credited against taxes on output. GST is going to be big game changer and under proposed GST regime

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