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Archive: 23 February 2017

Posts in 23 February 2017

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.

POEM guidelines not applies to company with turnover of Rs. 50 crores or less in a year

February 23, 2017 10119 Views 0 comment Print

Press Release on POEM guidelines dated 24th January, 2017 has, inter alia, stated that the POEM guidelines shall not apply to a company having turnover or gross receipts of Rs. 50 crores or less in a financial year .

Transitional provisions under Revised Model GST law (MGL)-Part I

February 23, 2017 4923 Views 0 comment Print

In our 9th article of the series, we are discussing the very important aspect of MGL that is transitional provisions, provided in model law for all the existing taxpayers. The transitional provisions are applicable to all the existing taxpayers and will impact majorly for assessees registered under central excise, service tax, state VAT.

Possible Implications of GST and necessary changes

February 23, 2017 4788 Views 0 comment Print

In our earlier posts, we discussed about registration, input tax credit, export, etc. Now, in our 8th in series of article, we will discuss some impacts of GST on normal business procedures like business contracts, business decision making, etc.

Online process for Grant of Registration under DVAT & CST

February 23, 2017 2016 Views 0 comment Print

The applicant dealer, applying online, shall provide PAN details and other brief particulars including e-mail, mobile etc. to begin with. PAN shall be verified from Income Tax data base, maintained by NSDL, on real time basis.

AIR Rate of duty drawback under GST framework: CBEC invite suggestions

February 23, 2017 2337 Views 1 comment Print

To ensure smooth transition to GST framework, the Drawback Committee is to formulate and recommend revised All Industry Rates (AIRs) of drawback on exports and/ or any other relevant drawback like rebate to be implemented for exports in the context of new GST environment and/or remnant tax structure.

Law on PE, Force of Attraction, tax on software embedded in hardware

February 23, 2017 2532 Views 0 comment Print

Article 7(1) of the DTAA between India and Netherlands provides for taxing profits of the enterprise in the other state only to the extent they are attributable to the PE in the other state, adopting No Force of Attraction principle. With the above broad principles in mind we will now consider the facts of the present case and the rival contentions

High Pitched Assessment: AO/CIT cannot straightaway demand 15% payment

February 23, 2017 6927 Views 0 comment Print

Undoubtedly, the present case raises the issue of balancing the interest of the Revenue, and the interest of an Needless to say, the Revenue does have the right to realise the assessed incometax amount from the assessee. However, while trying to realise the said amount, the Revenue cannot be permitted, and has not been permitted by the Circulars mentioned above, to act like a Shylock.

Features of Sovereign Gold Bonds 2016 -17 – Series IV

February 23, 2017 1350 Views 0 comment Print

Government of India, in consultation with the Reserve Bank of India(RBI), has decided to issue Sovereign Gold Bonds 2016-17–Series IV. Applications for the bond will be accepted from February 27, 2017 to March 03, 2017.

Download Free Botnet / Malware Cleaning Software

February 23, 2017 2142 Views 0 comment Print

Extending the ‘Swachh Bharat’ campaign to the cyber world, the Minister of Electronics and Information Technology, Shri. Ravi Shankar Prasad, today launched the Cyber Swachhta Kendra–Botnet Cleaning and Malware Analysis Centre for analysis of malware and botnets that affect networks and systems.

HC takes note of blame game payed by officials to cover up their lapse

February 23, 2017 699 Views 0 comment Print

Initially we had observed that the Commissioner and his officials are playing a blame ­game. To cover up their lapses and deficiencies, they turned around and blamed their Advocates.

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