Breach of Regulations 65 & 78 – Non submission of Form 112 – (19-06-2010).Further to our announcement dated 08th January, 2010, the appropriate Committee of the Institute in its recent meeting in view of the difficulties being faced by students decided that the following course of action be adopted for dealing with the cases of condonation of Regulation 65 w.e.f. 1st April 2010:-
Finally ending the political controversy over losses suffered on Indian Premier League (IPL) matches, the Maharashtra government has decided to tax the lucrative cricket tournament, according to an affidavit filed before the Bombay High Court on Monday.
Registration.- Every producer who is liable to pay cess shall get registered immediately with the jurisdictional Central Excise Officer but not later than a period of thirty days from the date of commencement of these rules by making an application to the jurisdictional Central Excise Officer :
The process of drafting a new Vision document – Vision 2020 is nearing completion. An important component of the Vision 2020 document is the Citizens’ Charter 2010. As a part of Vision 2020, the Citizens’ Charter 2007 was revisited by a Working Group constituted by the CBDT.
Shri Deora calls upon state Governments to bring down High rates of VAT on Petrol Diesel ; replace Ad-valorem Levies by Specific one. High VAT rates by some states ON PDS Kerosene needs review in view of lighting and cooking usage by the common man.
The government on Tuesday proposed to retain the income tax exemption for up to Rs 1.5 lakh paid as interest on housing loans in a year, a step that brings cheers back to home loan borrowers. The revised discussion paper on Direct Taxes Code (DTC), which would replace the decades old Income Tax Act, has retained the tax exemption for up to Rs 1.5 lakh paid as interest on housing loans. The revised draft is put up for public comments till June 30.
The Delhi High Court has held that an entity seeking tax deduction cannot be penalised just because it has not supported the claim with documents in its annual return. The judgement was passed on a petition filed by the Income Tax Department, seeking imposition of penalty on the Industrial Finance Corporation of India Limited (IFCI) because it had allegedly furnished “inaccurate particulars” of income to claim tax deduction.
Clean Energy Cess Notification No. 05/2010- Central Government, on being satisfied that it is necessary in the public interest so to do, hereby exempts all goods produced or extracted as per traditional and customary rights enjoyed by local tribals in the State of Meghalaya without any license or lease required under any law for the time being in force, from the clean energy cess leviable under section 83 of the said Finance Act.
Every Finance Act brings with it some new services under the purview of the Service Tax. The Associated Enterprises were also a part of those services that were brought under Service Tax Act in the year 2008 vide the Finance Act. From the beginning the service of the Associated Enterprise is walking with some uniqueness.
Clean Energy Cess Notification No. 04/2010- Central Government, on being satisfied that it is necessary in the public interest so to do, hereby exempts all goods falling under Central Excise Tariff headings 2701, 2702, 2703 of the First Schedule to the Central Excise Tariff Act,1985 (5 of 1986), other than raw coal, raw lignite and raw peat , from the clean energy cess leviable under section 83 of said Finance Act :
