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Archive: December, 2017

Posts in December, 2017

Vacancy for Manager Accounts and Finance with MNC

December 4, 2017 20802 Views 1 comment Print

Vacancy for Manager Accounts and Finance with a Muti National Company based at Mumbai for CA Inter / M.com / ICWA / MBA  having 8 to 11 years of experience in Accounts and Finance. Job Description MAIN DUTIES AND RESPONSIBILITIES Essential duties and Responsibilities (others may be assigned) MIS & Budgeting -Prepares monthly “Statement of Goods Manufactured” for Couplers […]

CBEC relaxes sampling requirements to speed up grant of Drawback

December 4, 2017 771 Views 0 comment Print

Since drawback payment is subject to finalization of case after receipt of test report of samples, monitoring on regular basis at senior level should be undertaken so that samples are drawn only where necessary and the cases are closed in a timely manner and not later than thirty days from date of let export. Customs may draw samples in case of any specific intelligence or doubt of misuse, fraud, etc.

Govt. imposes MEP of US$ 850 F.O.B. per Metric Ton on Onion till 31.12.2017

December 4, 2017 756 Views 0 comment Print

Export of onion for the item description at Serial Number 51 & 52 of Chapter 7 of Schedule 2 of ITC (HS) Classification of Export & Import Items shall be permitted only on Letter of Credit (LC) subject to a Minimum Export Price (MEP) of US$ 850 F.O.B. per Metric Ton till 31.12.2017

SAD refund on import before 01.07.2017 and sale after 01.07.2017

December 4, 2017 13113 Views 0 comment Print

Clarification regarding payment of SAD refund when the import has taken place prior to 1st July, 2017 (i.e. SAD on import has been paid prior to 1st July) and the sales of the imported goods have effected on or after 1st July, 2017 i.e. during GST regime

Credit of ST paid by Commission agents under Excise—Why cheat Assessee?

December 4, 2017 2412 Views 0 comment Print

CBEC: Credit of ST paid on Service provided by Commission agents under Excise—Why cheat the assessee? The government of India has absolute right to levy the taxes therefore it is imperative that the taxation provision should be clearly spelt out so that there is no ambiguity & room for distortion & devious interpretation to put […]

SC fines Litigant for filing Incomprehensible English Translation of Judgment

December 3, 2017 1275 Views 0 comment Print

The reason for imposing costs on the petitioner is that on perusal of the translation filed by the petitioner, we find that the impugned judgment does not make out any head and tail. It is difficult to read much less to understand as to what the judgment contains.

Appropriate rate of interest for estimating ALV of Property let out without rent

December 3, 2017 1542 Views 0 comment Print

In our opinion, for determining the income from the property, it should be rate of return on the investment of similar amount in another asset. Therefore, in our opinion, the Commissioner (Appeals) was fully justified in estimating the ALV on the basis of interest which assessee would have earned on the investment of the similar amount.

Scrutiny proceedings cannot be initiated if notice U/s. 143(2) served after statutory time period

December 3, 2017 4494 Views 0 comment Print

No scrutiny proceedings can be initiated if notice under section 143(2) is not received by assessee within the prescribed period.

Audit and its Impact in GST

December 3, 2017 6048 Views 1 comment Print

Audit is just 5 letters words but its impact is far beyond these numbers. Every coin has two sides one GST is based on self assessment u/s 59, but if this provision is not controlled by any other provision then

How to grow CA firm Practice

December 3, 2017 36645 Views 10 comments Print

When you finally opt for practice after coming out of the dilemma of whether to opt for practice or job; another big question that comes to your mind is How to grow practice. As advertisement and other means of soliciting clients are prohibited for Chartered Accountants

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