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Essential Elements of Advisory Agreements

August 22, 2016 3235 Views 1 comment Print

Advisory is a term which primarily evolved in developed countries for imparting consulting services by Certified Public Accountants (CPA) and other financial advisors for businesses entities. Top law firms such as EY, KPMG, PWC imparts advisory services which comprises areas of Corporate treasury, Cyber security, Anti money laundering, Contract management services, Enterprise risk, Internal Audit, Internal controls

Notification No. 113/2016-Customs (N.T.) dated: 22.08.2016

August 22, 2016 3032 Views 0 comment Print

Central Government vide Notification No. 113/2016-Customs (N.T.), Dated: August 22, 2016 has rescinded The Customs (Provisional Duty Assessment) Regulations 2011 as Section 18 of the Customs Act, 1962 itself defines the cases where provisional assessment may be resorted and requires that

No Service Tax on tube well construction for Government

August 22, 2016 6485 Views 0 comment Print

The phrase water supply is a general phrase. Basically it will involve providing users, access to a source of water. The source may be natural or artificial like tanks, wells, tube wells etc. Providing users access to such a source will involve construction of the source (if artificial) and the transmission of water to the user. It will involve activities like drilling , laying of pipes, valves , gauges etc, fitting of motors, testing etc, so as to eventually result in the supply of water.

MVAT: Issue of e-CST declarations for periods on or after 01.04.2016

August 22, 2016 5588 Views 0 comment Print

The Maharashtra Sales Tax Department (MSTD) is in the process of implementing SAP based New Automation System. The e-Registration functionality has already been launched in this new Automation system. However, e-Returns for periods after 01-04-2016, under Maharashtra Value Added Tax Act (MVAT)

Amendment in Legal Metrology Packaged Commodities Rules, 2011

August 22, 2016 3608 Views 0 comment Print

Attention of all the Importers/Exporters, Customs Brokers and the member of the Trade is invited to the Notification dated 14th May’2015 issued by the Food and Public Distributions Department of Consumer Affairs, Ministry of Consumer Affairs, New Delhi.

RBI proposes catalytic regime of bond market

August 22, 2016 1895 Views 0 comment Print

Looking at last 12 months, the market regulators in India have been on action to come up with suitable avenues to strengthen the bond market in India. Recently, there have been changes sought to stimulate the action in bond market. On August 18, 2016, in a bid to deepen the corporate bond market in India a report of the Working Group on Development of Corporate Bond Market in India

Rent Income as main Business: Chargeable as Business Income?

August 22, 2016 9443 Views 0 comment Print

The business of the company was to lease its property and to earn rent and therefore, the income so earned should be treated as its business income. The High court was not correct while deciding that the income of the appellant should be treated as Income from House Property.

Clarification in the matter of Illiquid Stock Options

August 22, 2016 878 Views 0 comment Print

The sale proceeds may be utilized for investments permitted in paragraph 37; ii. upto 25% of the value of the portfolio as on the date of the interim order or the amount* in excess of the profit made/loss incurred, whichever is higher, may be utilized for business purposes and ! or for meeting any other exigencies or address liquidity problems etc.

Govt notifies 12 Provisions of Insolvency and Bankruptcy Code, 2016

August 19, 2016 1799 Views 0 comment Print

S.O. 2746(E).—In exercise of the powers conferred by sub-section (3) of section 1 of the Insolvency and Bankruptcy Code, 2016 (31 of 2016), the Central Government hereby appoints the 19th August, 2016 as the date on which the provisions of following sections of the said Code shall come into force:—

Anti-dumping duty on 1-Phenyl-3-Methyl-5-Pyrazolone till 23.08.2017

August 19, 2016 824 Views 0 comment Print

Seeks to extend the levy of anti-dumping duty on imports of 1-Phenyl-3-Methyl-5-Pyrazolone originating in, or exported from, People s Republic of China, (imposed vide notification No. 80/2011-Customs, dated the 24th August, 2011) for a period of one year i.e. upto and inclusive of the 23rd August, 2017 Government of India Ministry of Finance (Department of […]

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