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Archive: March, 2018

Posts in March, 2018

Works Contract Composition Scheme can’t be denied to Assessee merely for Failure to file any Intimation

March 6, 2018 1776 Views 0 comment Print

Vaishno Associates Vs. C.C.E. & S.T.-Jaipur (CESTAT Delhi) The activity carried out by the appellant is in the nature of Erection, Commissioning or Installation and for the disputed period i.e. 2008-09 to 2009-10, the activity will also be covered under the category of Works Contract Service (WCS) which was introduced in the statute w.e.f. 01/06/2007. […]

TDS on payment to Carrier under contracts for transporting petroleum products in business is deductible U/s. 194C and not U/s./ 194I

March 6, 2018 6177 Views 0 comment Print

Assessee is obliged to deduct tax on the payment made by it to the Carrier under the contracts for transporting the petroleum products in the business in which the respondent assessee is engaged. On the one hand, it is the case of the appellant Department that the case of the respondent assessee falls under Section 194-I of the Income Tax Act, 1961 . On the other hand, the case of the respondent assessee is that its case falls under Section 1 94C of the Act.

Vacancy for CA for the post of DGM Accounts & Finance

March 6, 2018 38055 Views 1 comment Print

Job Vacancy in a Real Estate Company at Mumbai Location for Chartered Accountants having 8 to 12 Years of Experience for the post of DGM- Accounts and Finance.

Service Tax on Composite Work of Engineering Design and Construction

March 6, 2018 3921 Views 1 comment Print

Instant Civil Miscellaneous Appeal is filed against the order dated 30.04.2008, passed by the Customs, Excise, and Service Tax Appellate Tribunal, South Zonal Bench, Chennai in Final Order No.434/2008.

CBEC Circular to Reduce Litigations – An Overview

March 6, 2018 8976 Views 3 comments Print

Central Board of Excise and Customs has issued circular No.1063/2/2018-CX dated 16.02.2018, wherein this compiles sixty three orders of Supreme Court, High Courts and CESTAT on the various issues relating to Central Excise, Service Tax and Cenvat Credit has been accepted by the department. This is an exercise has been under taken by the Board […]

Mistake to be avoided while filing Shipping Bill Number in Table 6A of GSTR-1

March 6, 2018 7905 Views 0 comment Print

Attention Exporters: Provide complete and correct Shipping Bill Number while filing Table 6A of GSTR-1, to ensure that the GST System transmits the export invoice data, in case of export of goods with payment of IGST, to ICEGATE for refund. Steps to be followed by taxpayers, who have submitted FORM GSTR 3B but not filed […]

Tax on Sale of mortgaged property in discharge of loan taken

March 6, 2018 15312 Views 0 comment Print

ITO Vs Late Shri B. Kailasam (ITAT Chennai) Since availing a loan itself is consideration and therefore, constructive benefit was very well accrued to the assessee when the loan was availed by the concerned company, which was owned partly by the assessee. Since, the mortgaged property was sold in discharge of the mortgage created by […]

Govt to leverage Fin tech to enhance financial inclusion of MSMEs

March 6, 2018 852 Views 0 comment Print

The Government constitutes a Steering Committee on Fintech related issues to consider various issues relating to development of Fin tech space in India with a view to make Fin tech related regulations more flexible and generate enhanced entrepreneurship in an area where India has distinctive comparative strengths vis-à-vis other emerging economies;

Big Bank PNB Fraud gave Birth to NFRA

March 6, 2018 34464 Views 14 comments Print

It seems like it was the need of an hour to constitute National Financial Reporting Authority. Section 132 of Companies Act, 2013 deals with the constitution of NFRA. On Thursday March 1, 2018, the cabinet approved its constitution as announced by Union Finance Minister Arun Jaitley in a press meet. But the question here is, […]

Know all about Deposits Provisions for private companies

March 6, 2018 49980 Views 1 comment Print

This article clears the understanding of the provisions of Companies Act, 2013 applicable on private companies on acceptance of deposits.

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