CA Sumit Grover

Haryana VAT- Taxable Turnover for Builders

Goods and Services Tax - CA Sumit Grover In Sep’13, Hon’ble Supreme Court in case of L&T held that the construction activity by builders pertaining to sale of flats prior to completion certificate are also subject to levy of VAT. The said verdict opened a Pandora Box regarding valuation for the periods prior to the date of judgment. To resolve […]...

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Service Tax & CENVAT Changes w.e.f. 1st June'15

Goods and Services Tax - CA Sumit Grover Post enactment of Finance Act’15, trade was waiting for the Finance Ministry to notify the date for enhancement of service tax. Finally, the same has been notified as 1st June’15. Following is the gist of changes applicable w.e.f. the said date: 1) Abolition of EC & SHEC and effective rate of service [&hell...

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8 Important Changes in Foreign Trade Policy 2015-2020

Goods and Services Tax - Five different schemes(Focus Product Scheme, Market Linked Focus Product Scheme, Focus Market Scheme, Agri Infrastructure Incentive Scrip, VKGUY) merged into single unconditional scheme named as Merchandise Export from India Scheme(MEIS);...

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CBEC- Summons not to be issued to top management of companies

Goods and Services Tax - CBEC has issued instruction No. F. No. 207/07/2014-CX-6 dated 20.01.2015 directing the Central Excise officers to be very cautious before issuing summons under excise & service tax laws. The Board instructed the Superintendents to obtain prior permission of Assistant Commissioner with reasons for issuance of summons in writing....

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CBEC's race with Service tax audits

Goods and Services Tax - CA Sumit Grover Less than a week ago, CBEC had empowered CAs & CMAs(nominated u/s 72A) to conduct service tax audits on behalf of service tax department, by setting aside the verdict pronounced by Hon’ble Delhi High Court in case of  Travelite (India) Vs. Union of India & Ors., wherein the court took the view […]...

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Download Finance(NO.2) Act, 2014 assented by President of India

Goods and Services Tax - We are Enclosing herein below copy of  Finance(NO.2) Act, 2014 assented by Hon’ble President of India. Download Download Finance(NO.2) Act, 2014 assented by President of India Submitted by –Sumit Grover Read Other Articles from CA Sumit Grover...

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BCCI to pay service tax for recording IPL cricket matches – SC

Board Of Control For Cricket In India Vs Commissioner Of Service Tax (Supreme Court of India) - In the case of BCCI Vs. CST Hon'ble SC held that the activity of producing audio-visual coverage of ‘Indian Premier League’ cricket matches held in India by non -resident service providers would be liable to tax under ‘programme production services’ and BCCI was liable to pay tax under rever...

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Delhi VAT : Sale of used cars not subject to VAT

Anand Decors Vs Commissioner Of Trade And Taxes (Delhi High Court) - Recently, Hon'ble Delhi High Court in the matter of Anand Decors & Ors. v. CTT, New Delhi, has pronounced that the cars, even though fall within capital goods, but sale of used cars is not subject to VAT under Delhi VAT Act, by virtue of section 6(3) of ibid....

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SC grants stay on Delhi HC verdict on service tax audits

Union of India & ORS. Vs M/S Travelite (India) (Supreme Court of India) - In August,2014, Hon'ble High Court of Delhi in the matter of UNION OF INDIA & ORS. v. M/S TRAVELITE (INDIA) pronounced that the service tax audits conducted u/r 5A(2) of Service tax rules, 1994 are not valid in law....

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Mobile/cell charger is not a part of cell phone -SC

State of Punjab & ORS. Vs Nokia Pvt. Ltd (Supreme Court of India) - Hon’ble Supreme Court has delivered a landmark verdict in the matter of STATE OF PUNJAB & ORS. v. NOKIA INDIA PVT. LTD. & pronounced that the mobile/cell phone charger is an accessory to cell phone and is not a part of the cell phone....

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Detailed Manual Scrutiny of ST-3 returns with effect from 01.08.2015

Circular No. 185/4/2015-Service Tax - (07/07/2015) - With the introduction of the Point of Taxation Rules, 2011, which shifted the liability of payment of service tax from receipt basis to accrual basis, and the advent of negative list-based comprehensive taxation of services in 2012, it was felt that the guidelines for detailed scrutiny of returns ne...

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Online application for IEC Registration Mandatory from 1st Feb'15

Public Notice No. 83 (RE)2013/2009-14 - (30/01/2015) - Now, vide public notice no. 83, dated 30th Jan'15, it has been notified that the e-application for IEC shall be mandatory from 1st Feb'15. However, at the same time, DGFT has notified following banks with whom net banking facility needs to be accessed for online application of IEC: PUBLIC NOTICE N...

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CBEC dispenses with separate packing list in customs

Circular No. 01/2015-Custom Duty - (12/01/2015) - In order to simply the customs procedures & overcome the hassles, a welcome move has been made by CBEC. Vide Circular no. 01/2015 dated 12th Jan'15, it has been clarified by the Board that there shall not be any requirement of separate packing list in case commercial invoice cum packing list contain...

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CAs/ CMAs can conduct Service tax audits

Notification No. 23/2014-Service Tax - (05/12/2014) - Vide Notification No. 23/2014- ST dated- 05.12.2014, CBEC has amended rule 5A(2) and the pronouncement of Allahabad High Court has been followed principally & CAs/CMAs have been made empowered to conduct service tax audits....

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No time limit for re-credit of CENVAT

Circular No. 990/14/2014-CX-8 - (19/11/2014) - Circular No. 990/14/2014-CX-8 Dated- 19th November, 2014 Sub: Clarification regarding availment of CENVAT credit after six months-reg. Attention is invited to the Notification of the Government of India in the Ministry of Finance, Department of Revenue No. 21/2014-CE (NT) dated 11.07.2014, vide whic...

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Recent Posts in "CA Sumit Grover"

Haryana VAT- Taxable Turnover for Builders

CA Sumit Grover In Sep’13, Hon’ble Supreme Court in case of L&T held that the construction activity by builders pertaining to sale of flats prior to completion certificate are also subject to levy of VAT. The said verdict opened a Pandora Box regarding valuation for the periods prior to the date of judgment. To resolve […]...

Read More
Posted Under: Excise Duty |

Detailed Manual Scrutiny of ST-3 returns with effect from 01.08.2015

Circular No. 185/4/2015-Service Tax (07/07/2015)

With the introduction of the Point of Taxation Rules, 2011, which shifted the liability of payment of service tax from receipt basis to accrual basis, and the advent of negative list-based comprehensive taxation of services in 2012, it was felt that the guidelines for detailed scrutiny of returns needed a revision. In this background, it ...

Read More

Service Tax & CENVAT Changes w.e.f. 1st June'15

CA Sumit Grover Post enactment of Finance Act’15, trade was waiting for the Finance Ministry to notify the date for enhancement of service tax. Finally, the same has been notified as 1st June’15. Following is the gist of changes applicable w.e.f. the said date: 1) Abolition of EC & SHEC and effective rate of service [&hell...

Read More
Posted Under: Excise Duty |

8 Important Changes in Foreign Trade Policy 2015-2020

Five different schemes(Focus Product Scheme, Market Linked Focus Product Scheme, Focus Market Scheme, Agri Infrastructure Incentive Scrip, VKGUY) merged into single unconditional scheme named as Merchandise Export from India Scheme(MEIS);...

Read More
Posted Under: Excise Duty |

Online application for IEC Registration Mandatory from 1st Feb'15

Public Notice No. 83 (RE)2013/2009-14 (30/01/2015)

Now, vide public notice no. 83, dated 30th Jan'15, it has been notified that the e-application for IEC shall be mandatory from 1st Feb'15. However, at the same time, DGFT has notified following banks with whom net banking facility needs to be accessed for online application of IEC: PUBLIC NOTICE NO. 83 (RE)2013/2009-14....

Read More

CBEC- Summons not to be issued to top management of companies

CBEC has issued instruction No. F. No. 207/07/2014-CX-6 dated 20.01.2015 directing the Central Excise officers to be very cautious before issuing summons under excise & service tax laws. The Board instructed the Superintendents to obtain prior permission of Assistant Commissioner with reasons for issuance of summons in writing....

Read More
Posted Under: Excise Duty |

CBEC dispenses with separate packing list in customs

Circular No. 01/2015-Custom Duty (12/01/2015)

In order to simply the customs procedures & overcome the hassles, a welcome move has been made by CBEC. Vide Circular no. 01/2015 dated 12th Jan'15, it has been clarified by the Board that there shall not be any requirement of separate packing list in case commercial invoice cum packing list contains following details in addition to detai...

Read More

BCCI to pay service tax for recording IPL cricket matches – SC

Board Of Control For Cricket In India Vs Commissioner Of Service Tax (Supreme Court of India)

In the case of BCCI Vs. CST Hon'ble SC held that the activity of producing audio-visual coverage of ‘Indian Premier League’ cricket matches held in India by non -resident service providers would be liable to tax under ‘programme production services’ and BCCI was liable to pay tax under reverse charge mechanism....

Read More

Delhi VAT : Sale of used cars not subject to VAT

Anand Decors Vs Commissioner Of Trade And Taxes (Delhi High Court)

Recently, Hon'ble Delhi High Court in the matter of Anand Decors & Ors. v. CTT, New Delhi, has pronounced that the cars, even though fall within capital goods, but sale of used cars is not subject to VAT under Delhi VAT Act, by virtue of section 6(3) of ibid....

Read More

SC grants stay on Delhi HC verdict on service tax audits

Union of India & ORS. Vs M/S Travelite (India) (Supreme Court of India)

In August,2014, Hon'ble High Court of Delhi in the matter of UNION OF INDIA & ORS. v. M/S TRAVELITE (INDIA) pronounced that the service tax audits conducted u/r 5A(2) of Service tax rules, 1994 are not valid in law....

Read More
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