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Why 1% Additional Tax over and above GST is required to be removed

July 23, 2015 3903 Views 0 comment Print

Intention of the Central Government (CG) looks clear on implementation of Goods and Service Tax (GST) in the Country. However, on close reading of Clause 18 the Constitution (122nd Amendment) Bill, 2014 and its impact on the general business and commerce in the Country, it appears that the things are absolutely different than what is being projected before the public at large on GST front.

Notification No. 69/2015-Customs (N.T.) Dated- 23rd July, 2015

July 23, 2015 871 Views 0 comment Print

Notification No. 69/2015-CUSTOMS (N. T.) New Delhi, Dated- 23rd July, 2015 S.O. … (E).– In exercise of the powers conferred by sub-section (2) of section 14 of the Customs Act, 1962 (52 of 1962), the Central Board of Excise & Customs, being satisfied that it is necessary and expedient so to do, hereby makes the following amendment in the notification of the

Simplifying Mechanism of Issuing Passport under passport seva system

July 22, 2015 1710 Views 0 comment Print

The minister of state in the ministry of external affairs Gen. (Dr) V. K. Singh (retd) informed the members of Lok Sabha today in reply to a question that (i) It would be incorrect to say that a large number of applicants seeking passport services are unable to use online method as often server goes […]

Govt. integrates 14 services with eBiz portal & 12 are more under various stages of integration

July 22, 2015 381 Views 0 comment Print

Introduction of E-Biz Platform   – 14 Central Government services have been integrated with eBiz portal. S. No. Ministry/ Dept. Name Service  Name 1 Ministry of Corporate Affairs Name Availability 2 Ministry of Corporate Affairs Director Identification Number 3 Ministry of Corporate Affairs Certificate of Incorporation 4 Ministry of Corporate Affairs Commencement of Business 5 Central […]

ICAI devised mechanism to Monitor Tendering Fees quoted by its Members

July 22, 2015 814 Views 0 comment Print

ANNOUNCEMENT – MECHANISM TO MONITOR TENDERING With a view to contain the tendering system for attest functions, the Council at its special (338th) meeting considered the report of the Group constituted under the convenorship of CA. Tarun Jamnadas Ghia, Member, Central Council and decided as under: 1.  Tendering has been prohibited in the exclusive areas of […]

Relaxation in requirement to undergo nine months of Practical Training to appear in IPC Exam

July 22, 2015 1133 Views 0 comment Print

Sub.: Relaxation in the requirement to undergo nine months of Practical Training to appear in Intermediate (IPC) Examination in respect of students registered for Intermediate (IPC) under CPT Route and shifted to Direct Entry Scheme In order to mitigate the hardships being faced by the students who have originally registered for Intermediate (IPC) Course under […]

ICAI declares Time Table of CPT December 2015

July 22, 2015 925 Views 0 comment Print

No.13-CA (EXAM)/CPT/December/2015: In pursuance of Regulation 22 of the Chartered Accountants Regulations, 1988, the Council of the Institute of Chartered Accountants of India is pleased to notify that the Common Proficiency Test will be held on Sunday, 13th December, 2015 in two sessions as below, at the following centres provided that sufficient number of candidates offer themselves to appear from each centre.

Transfer u/s 2(47) completes only when conditions of sec 53A of transfer of property act gets fulfilled

July 22, 2015 3125 Views 0 comment Print

ITAT held that Section 53A of 1882 Act, by incorporation, stood embodied in section 2(47)(v) of the Act and all the essential ingredients of Section 53A of 1882 Act were required to be fulfilled to attract sec 2(47). In the absence of registration of JDA

CBDT Circulars : Bending Effect

July 22, 2015 29990 Views 0 comment Print

In The Commissioner of Income Tax vs. Income Tax Settlement Commission, Chirag Construction RMC [WRIT PETITION NO.1266 OF 2013, DECISION PRONOUNCED ON : 30 AUGUST 2013], the Bombay High Court observed the decision of the Apex Court in the matter of Commissioner of Central Excise v/s. Ratan Melting & Wire Industries 231 ELT page 22.

Disallowance u/s 40A(2) of Commission paid to relatives cannot be made without proper enquiry

July 22, 2015 6853 Views 0 comment Print

AO made the disallowance by invoking the provisions of section 40A(2) of the Act, however nothing was brought on record on the basis of the comparative analysis to substantiate that the commission paid to the related parties was higher than the commission paid to unrelated parties.

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