Sale made to CSD is Tax free and sale made by CSD is taxable. Change in Rate of Tax on shoes including moulded plastic footwear, hawai chappals and straps thereof, plastic footwear and hand crafted footwear. Now brick kiln owners are liable to pay double tax on the determined slabs.
Ministry of Corporate Affairs has done a remarkable job for the industry by issuing notifications with regard to Common Cost Accounting Record Rules, 2011 and six other Specific Cost Accounting Record Rules. Earlier there were 44 Cost Accounting Record Rules for different Industries and Cost Records were required to be prepared as per specific formats mentioned under those rules
Admittedly, assessee was in the business of selling jewellery and it was also purchasing old gold and old diamonds from its customers, who wanted to exchange their old jewellery with new jewellery. Contention of the assessee that it was not effecting any cash purchase from its customers, has not been effectively rebutted. Case of the assessee is that it was effecting purchase of old jewellery from customers who were willing to buy new jewellery from the assessee
SEBI has received representations regarding operational issues in the implementation of aforesaid SEBI Circulars in case of foreign investors viz. Foreign Institutional Investors, Sub Accounts and Qualified Foreign Investors. In consultation with the Stock Exchanges, Depositories and Intermediaries, certain clarifications are issued, as given in Annexure A, with respect to these investors.
Circular No.24/2012-Customs It has been decided to make e-payment of duty mandatory for importers registered under Accredited Clients Programme and importers paying customs duty of one lakh rupees or more per Bill of Entry with effect from 17.09.2012.
Announcement 5th September 2012 The Institute has recently announced Direct Entry Scheme for admission to Intermediate (IPC) course for graduates/post graduates with specified marks and Intermediate level passed students of the Institute of Company Secretaries of India and the Institute of Cost Accountants of India. As a transition scheme, the Council of the Institute has […]
Letter[F.No.187/12/2010-ITA.1] The present criteria for jurisdiction is based on CBDT Instruction No. 1/2011 dated 31.01.2011 read with Instruction No 6/2011 dated 8.4.2011 and subsequent clarification dated 8.12.2011. A view was expressed to suitably revise the same so that equitable distribution of workload could be ensured among the Assessment Officers. The hon’ble FM, during the deliberation had desired that the field authorities should send their recommendations to CBDT without delay so that the needful could be done.
The Government of India has enacted the Right to Information Act, 2005 (http://www.persmin.nic.in) which has come into effect from October 13, 2005. The Right to Information under this Act is meant to give to the citizens of India access to information under control of public authorities to promote transparency and accountability in these organisations. The Act, under Sections 8 and 9, provides for certain categories of information to be exempt from disclosure. The Act also provides for appointment of a Chief Public Information Officer to deal with requests for information.
Please refer to our Circular DBOD. No. Leg BC. 91 /09.07.005/2007-08 dated June 4, 2008 on the captioned subject advising that all banking facilities such as cheque book facility including third party cheques, ATM facility, Net banking facility, locker facility, retail loans, credit cards etc., are invariably offered to visually challenged persons without any discrimination as they are legally competent to contract
Free eBook on Audit, Inspection & Enforcement under Delhi Value Added Tax, 2004. This Book deals with Section 58 to 65 (amended upto 18-06-2012) of DVAT Act, 2004 read with Rules 22, 23, 41, 43 and 46 of DVAT Rules, 2005. These give power to the department for proper enforcement of the Act, audit of the accounts of the dealer, inspection of records, power to enter premises and seize records and goods, power to stop, search and retain goods and deals with the custody and release of records, disposal of goods, goods vehicle and security.
