Q1. What was the reason to amend tax treaty (DTAA) with Mauritius? 1. Any Capital Gains arising in Mauritius were not taxed 2. This made an attractive “post box address” for foreign investors to route investments into India 3. Indians with a intention of avoiding taxes set up shell companies in Mauritius, concealing identities and channeling cash or stock market investments through “round tripping”.
INTRODUCTION AUTHORITY FOR ADVANCE RULINGS CENTRAL EXCISE Advance rulings enable foreign investors to know in advance into certainty their indirect tax duty liability on production and manufacture of goods in India.2. Relevant provisions for obtaining an advance ruling are contained in Chapter IIIA in the Central Excise Act, 1944; 2.1. The Central Excise (Advance Rulings) […]
In Continuation of my previous article on appeals to Ld. Commissioner (Appeals), Customs, Central Excise and Service Tax in case of service tax, I have complied the main provision of appeals to Hon’ble Customs, Central Excise and Service Tax Appellate Tribunal (CESTAT) in case of service tax demand in following paragraph in this article.
It is frequently seen that requests for Exchange of Information in Form A (of the Manual of Exchange of Information issued by C.B.D.T. in May, 2015) addressed to Foreign Tax Authorities have been received from field formations without proper explanation in SI. No. 8 of Part II of Form A as to why it is necessary to refrain from notifying the taxpayer.
I, S.S.Yadav, Commissioner, Value Added Tax, do hereby extend the last date of filing of online/hard copy of fourth quarter return for the year 2015-16, in Form DVAT-16, DVAT-17 and DVAT-48 along with required annexure/enclosures to 23/05/2016.
Wef 1st April 2016 any services, other than services covered under clauses (i) to (iii) of Section 66D provided by Government or local authority to business entities will be taxable and Service Receiver (Business Entities) are liable to pay service tax under reverse charge mechanism,except the services that are specifically exempted.
Every company (Private or Limited) need to comply with the filing with Registrar of Companies (RoC). Many entrepreneurs make a default in this part. This may be due to negligence or unawareness. Reason may be anything, this tend to result in stringent penalties. Following are the mandatory annual filing with RoC with their due dates: […]
The CBDT has issued the orders No. 90 of 2016 to 95 of 2016 on 16.05.2016 by which it has made transfer And Postings Of Additional, Joint And Assistant Commissioners Of Income-tax (i) Order No. 90 of 2016 dated 16.05.2016 for postings and transfers of officers in the grade of Additional and Joint Commissioners of […]
This appeal filed by the Revenue raises questions with regard to whether transfer pricing adjustment consequent to arriving at Arms Length Price(ALP) is required to be done only in respect of the international transactions or this adjustment is to be done in respect of all the business transactions of the assessee i.e. at the entity level.
Creativity and innovation have been a constant in growth and development of any knowledge economy. There is an abundance of creative and innovative energies flowing in India. India has a TRIPS compliant, robust, equitable and dynamic IPR regime.
