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Archive: 15 December 2017

Posts in 15 December 2017

Course on Mastering GST Sections Effortlessly with Memory Techniques!

November 28, 2024 3999 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!

Recent changes and its impact under GST on supplies made to Merchant Exporter

December 15, 2017 7578 Views 3 comments Print

Merchant Exporter means a person engaged in trading activity and exporting or intending to export goods. Merchant exporters are instrumental to boost exports which contribute to growth of Indian economy.

Vacancy for Credit Control Manager

December 15, 2017 3717 Views 0 comment Print

Vacancy for the post of Credit Control Manager for A Company Based in Mumbai involved in Manufacturing and Trading of Goods. Candidates should be either CA, CS, CMA or MBA finance with 15 to 20 Years of working experience.

HC dismisses Writ challenging a compounding order as Assessee has a Revisional Remedy

December 15, 2017 1353 Views 0 comment Print

Considering the fact that the petitioner has a revisional remedy as against the order dated 31.08.2015, this Court is inclined to grant one indulgence to the petitioner to pursue the revisional remedy within a time frame, failing which the respondent can take action for recovery including prosecution.

TDS on AMC of medical equipments by Hospital- Section 194C or Section 194J?

December 15, 2017 24999 Views 1 comment Print

Expenditure on account of AMC of medical equipments etc., is not in the nature of fee for professional and technical services as construed under section 194J of the Act and hence, not liable to deduct TDS under section 194J of the Act. The assessee has deducted TDS under section 194C of the Act in regard to payments on AMC of medical equipments and machines etc.

Pre- Budget Memorandum 2018- Indirect Taxes

December 15, 2017 2652 Views 0 comment Print

Service Tax 1. Transition provision for tax paid on receipt basis Rule 6 of Service Tax Rules, 1994 provides that in case of such individuals, partnership firms and one-person companies whose aggregate value of taxable services provided from one or more premises is Rs. 50 lakhs or less in the previous financial year, the service […]

Clouds on deemed dividend provisions now cleared

December 15, 2017 4635 Views 0 comment Print

The important aspect while planning restructuring proposals is the applicability of deemed dividend provisions that was under the controversial route which is now put to rest with the latest ruling by the Apex Court. The muddle of taxability under deemed dividend as per section 2(22)(e) is now cleared by the latest ruling of the Apex Court and would be beneficial for assesses facing similar issues.

GST only on under-construction property and not on ready-to-move-in properties

December 15, 2017 13515 Views 4 comments Print

The CBEC on 14.12.17 has clarified that the sale of ready-to-move-in or completed property would not attract levy of GST. Hence, GST will be levied only on under-construction property.

Procedure for Incorporation of Private Company- Spice E-Form-32

December 15, 2017 5301 Views 0 comment Print

This eForm is accompanied by supporting documents including details of Directors & subscribers, MoA and AoA etc. Once the eForm is processed and found complete, company would be registered and CIN would be allocated.

Tax planning opportunity by SC?

December 15, 2017 1944 Views 0 comment Print

The decision relates to deductibility of excise duty u/s 43B of the Income Tax Act, 1961. Section 43-B requires cumulative existence of following; The deduction claimed by the Assessee must be otherwise allowable under the other provisions of the Act.

Assessee registered under STPI as a 100% EOU can claim deduction u/s 10B despite non approval by Board as 100% EOU

December 15, 2017 1923 Views 0 comment Print

While dismissing revenue’s appeal, the Hyderabad bench of Income Tax Appellate Tribunal (ITAT) has declared that assessee is entitled for deduction under Section 10B of the Income Tax Act 1961 even though it registered as a hundred percent Export Oriented Undertaking (EOU) under the Software Technology Park of India (STPI).

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