"October, 2018" Archive - Page 20

Service tax payable on service of foreign institutions availed in getting ECBs

M/s. Paramount Communications Ltd. Vs CCE (CESTAT Delhi)

M/s. Paramount Communications Ltd. Vs CCE (CESTAT Delhi) It is a matter of record that the appellant assessee have availed services of certain foreign based agencies for receiving external foreign commercial borrowings (ECB) from abroad. It is also a matter of fact that during 2006 to 2007, certain payments in the form of commission have ...

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Consultation Paper on Review of Regulatory Framework for Debenture Trustees (DTs)

Objective of consultation paper on Review of Regulatory Framework for Debenture Trustees (DTs) is to seek comments/ views from public on proposals that are intended to strengthen regulatory framework for Debenture Trustees (DTs) as well as empower DTs to effectively discharge their responsibilities towards debenture holders of listed de...

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Posted Under: Service Tax |

12 Points To Know For NRIs / To Be NRIs

CA Brijesh Baranwal 1. NRIs whose taxable Indian Income exceeds basic exemption limit or who have earned short-term or long-term capital gains from sale of any investments or assets are liable to file income tax return in India, even if the gains are less than the basic exemption limit. 2. Exception: If taxable income consisted […]...

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Posted Under: Service Tax |

Online GST Certification Course by TaxGuru (Limited Seats)

Online GST Certification Course by TaxGuru, GST Professionals and Govt. of India (Ministry of M.S.M.E) (Registration Open) Learn GST in a Practical Way- Join Online GST Certification Course by TaxGuru, Govt. of India (Ministry of M.S.M.E) & GST Professionals – Jan 2019 Batch starting from 20th January 2019. Batch covers detailed...

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Cenvat Credit on Club Membership for business & Life Insurance for Employees eligible

Rohit Surfactant Pvt Ltd Vs CGST, C.C & C.E. (CESTAT Delhi)

Rohit Surfactant Pvt Ltd Vs CGST, C.C & C.E- UJJAIN (CESTAT Delhi) It is seen that the Cenvat Credits have been disallowed by the lower authority, vide the impugned order, by observing that the services fall within the exclusion category specified in Rule 2 (I) (C). This exclusion clause disallows the Cenvat Credit in respect [&hellip...

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IGST Refund when refund scroll generated for a much lesser IGST

Circular No. 40/2018-Customs (24/10/2018)

CBIC has been receiving representations where the refund scroll has been generated for a much lesser IGST amount than what has actually been paid against the exported goods. Broadly, this has happened due to: a Error made by the exporter/CHA in declaring the IGST paid amount in SB or,...

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HC Imposes cost for Abuse of law by filing Multiple Proceedings on same issue

M/s. Vibgyor Texotech Ltd. Vs Board of Directors State of Bank of India (Bombay High Court)

M/s. Vibgyor Texotech Ltd. Vs Board of Directors State of Bank of India (Bombay High Court) Indisputedly, order dated 16.3.2017 passed by the District Magistrate under Section 14 has attained the finality and has been executed. The Petitioner herein has not challenged the order dated 16.3.2017 either by filing an application under Section...

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Filing Income Tax Returns In India- for Residents and NRIs

Under the provisions of Indian Income Tax Laws, if the income of a person exceeds the basic exemption limit, filing of Income Tax Return (ITR) is required. However, In those cases where a person have an asset or financial interest in an entity located outside India or he/she is signing authority in a foreign bank account, then filing of I...

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Posted Under: Service Tax |

9 Simple FAQs on Income Tax

Q.1 What is Income Tax ? Ans: It is a tax levied by the Government of India on the income of every person. The provisions governing the Income-tax Law are given in the Income-tax Act, 1961.​...

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Posted Under: Service Tax |

 Advantages of doing business in Corporate/Company

CA Brijesh Baranwal > There are a number of financial and legal advantages by operating an organization in corporate form. Organizing a business in corporate form allows a company to function independently from the owners of the business and one or more people may operate a company in corporate form in many places.  > Organizing ...

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Posted Under: Service Tax |