With a view to provide fire to start ups and facilities their growth in the initial phase of their business. A new section 80IAC is introduced to provide 100% deduction on profit.
Chartered Accountant firms based in Haryana who could not apply for Empanelment with O/o C&AG due to local rampant disturbances may give the required details regarding the firms/partners in hard copy by last date of submission of documents i.e. 15th March, 2016 for empanelment for the year 2016-17.
The Hon’ble High Court of Karnataka vide its order dated 07.10.2015 dismissed the captioned Writ Petition along with other Writ Petitions which were filed challenging the amended Section 35 F of the Central Excise Act, 1944, which requires mandatory pre-deposit of the duties and penalties.
With the provision of additional 10% tax to be imposed on the investor on receipt dividend income, the Indian market is witnessing a rush to declare interim dividends before the amendment comes to life, i.e. from April 01, 2016. Accordingly the companies need to adequately arrange for the declaration and payment of interim dividend before the deadline of March 31, 2016.
Rajya Sabha today approved the Real Estate (Regulation and Development) Bill,2016 that seeks to protect the interests of the large number of aspiring house buyers while at the same time enhancing the credibility of construction industry by promoting transparency, accountability and efficiency in execution of projects.
Learned counsel explains that the Domestic Tariff Area (DTA) unit having paid the service tax on reverse charge mechanism on behalf of SEZ unit of the company, the portion of such tax attributable to the SEZ is denied by the adjudicating authority to avail CENVAT credit thereof.
The taxable services availed by the appellant were to occasion the exports. There appears nexus between export and the service so availed which cannot be ruled out by the authorities below. Once that is present, denial of the refund of the accumulated CENVAT credit to the exporter is unreasonable.
What the learned counsel says is that its right not being abrogated by law and also in absence of any provision in law to deny refund, the unutilised credit of AED is refundable. Following the ratio laid down by the Hon ble High Court of Andhra Pradesh in the aforesaid judgment, appellant is entitled to refund. When law itself does not deny grant of refund of unutilised credit there shall be no question of limitation to apply.
Learned counsel says that maintenance of health of the factory workers where they work in hazardous situation is an essentiality both under statute as well as requirement of the conditions of the employment.
Learned counsel says that pollution control being necessity of law appellant has complied to that law incurring certain expenditure which have suffered service tax. Inadmissibility of CENVAT credit in respect of the service tax suffered having direct relation and intimate connection with the manufacture to prevent pollution, shall be mis-carriage of justice.
