"18 March 2020" Archive - Page 2

View / Download Book Identification Number (BIN) Details

To view BIN details provide TAN, Nature of Payment , Form 24G month/year range. To view BIN details of particular AO, provide the AIN of AO in addition to above mandatory details.BIN is to be quoted in the Transfer voucher details while preparing the quarterly TDS/TCS statements....

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Posted Under: Income Tax | ,

Debt Raised from Special Window for Affordable and Middle-Income Housing Investment Fund I

Notification No. S.O. 1145(E). 18/03/2020

Central Government hereby notifies a debt raised from the Special Window for Affordable and Middle-Income Housing Investment Fund I, for the purposes of clause (15) of section 5 of Insolvency and Bankruptcy Code, 2016....

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Service Tax Refund claim filed after expiry of limitation cannot be entertained

Comexx Vs Commissioner of Central Excise & ST (CESTAT Ahmedabad)

Comexx Vs Commissioner of Central Excise & ST (CESTAT Ahmedabad) We find that the decisions relied on by the appellant in his support were passed without appreciating the decision of Hon’ble Apex Court in the case of Doaba Co-operative Sugar Mills (supra) and in the case of Mafatlal Industries Limited vs. UOI – 1997 (89) […...

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ITAT cannot dismiss an Appeal merely because tax payer was not participating in proceeding

Rabindra Kumar Mohanty Vs Registrar, ITAT (Orissa High Court)

Rabindra Kumar Mohanty Vs Registrar, ITAT (Orissa High Court) Article 265 of the Constitution mandates that no tax can be collected except by authority of law. Appellate proceedings are also laws in strict sense of the term, which are required to be followed before tax can legally be collected. Similarly, the provisions of law are [&helli...

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Commissioner (A) has power to remand the matter to Adjudicating Authority

Commissioner of Central Excise & ST Vs Adani Power Limited (CESTAT Ahmedabad)

Commissioner of Central Excise & ST Vs Adani Power Limited (CESTAT Ahmedabad) As regards the issue that whether Commissioner (Appeals) has power to remand the matter to Adjudicating Authority, we find that this being a case of refund of service tax, clearly covered by the ratio of Hon’ble Gujarat High Court judgment in the case [&he...

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Available Input Tax Credit Under GST Act

Under GST the text Claim and avail are two different concepts.. We, every-body under stand that the prime concept of input tax credit arise under Goods and Service Tax arise from Section 41 by the golden sentence ‘entitled to take eligible input put credit’. While analyse for the sentence entitled to take eligible input tax [&...

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Posted Under: Income Tax |

A brief on valuation approaches for registered valuers

Types of approaches used in Valuation : A brief on valuation approaches for registered valuers With the introduction of concept of Registered valuer’ by Companies Act, 2013, the requirement for a professional and methodological  approach to valuation has arisen. Not a while ago, for majority of proefessionals the valaution of an eq...

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Posted Under: Income Tax |

Draft Companies (CSR) Amendment Rules, 2020- An Analysis

Ministry of Corporate Affairs (MCA) has released the Draft Companies (CSR Policy) Amendment Rules, 2020 proposing amendments to Companies (Corporate Social Responsibility Policy) Rules, 2014 for public comments. An attempt has been made to analyse the rules and the changes that are brought out by the said rules vis a vis the rules as are ...

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Posted Under: Income Tax |

Brief note on Draft Companies (CSR) Amendment Rules, 2020

Brief note on the proposed amendments in the Companies (Corporate Social Responsibility Policy) Rules, 2014 (CSR Rules) as proposed vide Draft Companies (CSR Policy) Amendment Rules, 2020: 1. Newly phrased definitions under the CSR Rules: a) ‘Corporate Social Responsibility’ defined with a negative list. Some of the exclusions...

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Posted Under: Income Tax |

RoDTEP scheme- New WTO compliant export incentive scheme

Cabinet has approved WTO compliant scheme for ‘Remission of Duties and Taxes on Exported Products (RoDTEP)‘ to boost exports for enhancing Exports to International Markets. The scheme is explained here below in simplified manner – #Objective of RoDTEP scheme To make Indian exports cost competitive and create a level play...

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Posted Under: Income Tax |

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