"12 February 2022" Archive

ST not leviable on supply of gensets for short period as it amounts to deemed sales

Subhash Light House Vs Commissioner, Central Goods & Service Tax (CESTAT Delhi)

Subhash Light House Vs Commissioner, Central Goods & Service Tax (CESTAT Delhi) ST not leviable on supply of gensets for short period as it is amounts to deemed sales The CESTAT, New Delhi in M/S Subhash Light House v. Commissioner, Central Goods & Service [Service Tax Appeal No. 50176 of 2019 Tax, Audit-II dated February [&hellip...

ICAI elects President & Vice-President for the year 2022-23

ICAI elects New Torchbearers for the year 2022-23-  CA. (Dr.) Debashis Mitra elected as President, ICAI and CA. Aniket Sunil Talati elected as Vice President, ICAI. CA. (Dr.) Debashis Mitra, President ICAI- 2022-23 A visionary with strong academic leaning and having deep professional insight, CA. (Dr.) Debashis Mitra, has been elected as...

Posted Under: Service Tax |

Tribunal allows adjustment of pre-deposit u/s 62(5) of PVAT Act 2005

Sunyana Sales Corporation Vs State of punjab (Punjab VAT Tribunal)

Sunyana Sales Corporation Vs State of Punjab (Punjab VAT Tribunal) The Hon’ble Punjab VAT Tribunal allows adjustment of pre-deposit u/s 62(5) of PVAT Act 2005 from refund amount applied of subsequent periods. It has been laid down that despite judgement of Hon’ble Supreme Court in Tecnimont case (which lays down that no waiver...

CSR Reporting – CSR-2 – a New Beginning

One more step towards CSR Reporting, One more amendment, one more Circular and one more Compliance in the CSR world… Its time to facelift in the reporting manner & method of CSR Compliance and It seems that the Govt of India through MCA is keen to know about the CSR spending, CSR projects, CSR Implementing […]...

Posted Under: Service Tax |

Introduction of ‘Digital Rupee’ – New Digital Currency

Finance Minister, Smt Nirmala Sitharaman, has announced the introduction of Digital Rupee to be issued by the Reserve Bank of India starting 2022-23 while presenting the Union Budget 2022-23 in the Parliament. The Reserve Bank of India will launch the CBDC from the upcoming financial year that will be backed by blockchain technology. Key ...

Posted Under: Service Tax |

External Commercial Borrowings (ECBs) in India

1. Introduction on the ECBs (i) ECBs are permitted as ‘commercial’ loans for ‘commercial’ purposes as to be received by the eligible Indian borrowers from the recognized non-resident lenders in accordance to updated guidelines as issued by the RBI from time-to-time. (ii) ECBs are permitted in ‘any’ convertible foreign currency...

Posted Under: Service Tax |

Govt initiatives to promote Information Technology Industry Services

The Government of India (GoI) has taken various initiatives to promote Information Technology and Information Technology enabled Services (IT/ ITeS) sector in the country....

Posted Under: Service Tax |

Migration of Foreign Companies To India

Various initiatives/schemes have been launched by Government for promoting growth and attracting investment in India. The Make in India programme was launched on 25th September, 2014 with aim of facilitating enhanced investment, foster innovation, build best in class infrastructure, and make India a hub for manufacturing, design, and in...

Posted Under: Service Tax |

ICAI mandates Peer Review for certain categories of Firms

Realising the extent of wide range of the Practice units, some of which have multiple branches located in different parts of the country while others may be operating only at sole proprietor level, the roadmap has classified Practice Units into four categories and prescribed the implementation of peer review process over a four year time ...

Posted Under: Service Tax |

ICMAI extends date of admission for CAT Course students

It is hereby notified that the last date of admission for CAT Course students stands extended up to 28th February, 2022 (Monday) for June, 2022 term of examination....

Posted Under: Service Tax |

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