Present Indirect Tax structure of India provides various levies and taxable events in respect of such levies vary, depending upon the nature of tax. The four major constituents of present Indirect Tax structure and taxable events thereof can be described as under:
It was held that excise amount paid on account of inter unit transfer higher than amount arrived as per CAS-4 cannot be treated as non compliance and the CENVAT credit of the same can be availed by the other unit.
Re-look at the amended penalty provisions contained in section 78 of the Finance Act, 1994/Section 11AC of the Central Excise Act, 1944:-The provision distinguishing the quantum of penalties in section 11AC in cases where short-payment or non-payments have arisen for reasons other than fraud and restricting penalties upto 10% of the tax or Rs. 5000 whichever is higher was appreciated.
This circular cannot be made use of for legal interpretation of provisions of law as it is clarificatory in nature. If any member of the trade has any doubt, the same may be referred to this office for further clarification. You are requested to bring contents of this circular to the notice of the members of your association.
Sachin Tendulkar, who was also the master mentor of the initiative, said, Aviva and I have worked together on various initiatives that have helped identify the aspirations of Young India. I had an early start in my career due to the support of my family. India, today, is buzzing with many bright minds and I am very happy to partner personalities, who are renowned professionals in their respective fields, to enable these kids live their dreams.
A AAI : Airport Authority of India AAR : Authority for Advance Ruling AC/DC : Assistant Commissioner/Deputy Commissioner ACAO : Assistant Chief Account Officer ACES : Automation of Central Excise and Service Tax ACES-CFC : ACES Certified Facilitation Center ACP : Accredited Client Programme ACC : Air Cargo Complex AD /DD : Assistant Director/Deputy Director […]
Union Bank of India invites applications from eligible/interested Firms /Companies for empanelment as Concurrent Auditors for conducting Concurrent Audit in the identified branches / offices for the period from 01.04.2016 to 31.03.2017.
ACS Anjali Singh Difference between Private Placement and Preferential Allotment under Companies Act, 2013 For a Layman Private placement (or non-public offering) is a funding mode through Shares or Other Securities which are sold not through a public offering, but rather through a private offering, mostly to a small number of chosen investors. Preferential Allotment […]
The Draft Companies (Cost Records and Audit) Amendment Rules, 2016 has been placed on the Ministry’s website at www.mca.gov.in. It has been decided to invite suggestions/comments on the above draft.
Technology Market refers to market platforms driven by new technologies, shrouding over the age-old market platforms. With the advent of e-commerce facilities selling, purchasing, hiring of any goods and services is seen to be in the hands of the consumers.
