Finance : Explore how perpetuity underpins stock valuation and enterprise value through cash flow models and discounting techniques....
Income Tax : Review gold and silver rates for the current year, the past 10 years, and historical rates from 1981 and 2001, important for finan...
Finance : Explore the valuation requirements across different laws in India, including the Companies Act, IBC, SEBI, RBI, and Income Tax Act...
Corporate Law : Delve into the intricacies of valuation in corporate decisions, exploring regulatory demands, multiple valuation reports, and fort...
Income Tax : Explore intricate relationship between income tax and customs valuation. Learn how these realms intersect, challenges they pose, a...
CA, CS, CMA : Explore the newly released Exposure Draft by ICMAI on Inventory Valuation under the Income Tax Act. Provide your feedback before t...
Corporate Law : Valuation is the most fundamental term in finance but is extremely crucial to understand while deriving the value. Also, several e...
CA, CS, CMA : Valuation is an exercise which is unique for every transaction and requires efforts, involvement, application of mind and thought ...
CA, CS, CMA : Advisory to follow the ICAI Valuation Standards 2018 while conducting any type of Valuation Engagement to ensure uniformity and tr...
CA, CS, CMA : Financial reporting in India has undergone a significant transformation owing to the adoption of Indian Accounting Standards (Ind ...
Excise Duty : CESTAT Kolkata held that demand of excise duty in terms of rule 8 of the Valuation Rules not sustainable as correct higher duty al...
Income Tax : Intelligrape Software Pvt. Ltd. Vs ITO (ITAT Delhi) When the assessee Company had opted for valuation of unquoted equity shares in...
Income Tax : Flutura Business Solutions Pvt. Ltd. Vs ITO (ITAT Bangalore) We are of the view that, the Assessing Officer has erred in consideri...
Custom Duty : Sunland Alloys Vs C.C. (CESTAT Ahmedabad) The issue under consideration is whether the DGOV guidelines are over and above Customs ...
Custom Duty : CESTAT are of the clear view that merely based on DGOV circular also, value cannot be enhanced which is without authority of law. ...
Corporate Law : RV has liberty to adopt the cost approach to estimate the value of plant and machinery assets in accordance with International Val...
Corporate Law : The Companies (Registered Valuers and Valuation) Rules, 2017 (Rules) envisage Registered Valuer Organisations (RVOs) to act as fro...
Income Tax : Amendment in Rule 11U and 11UA omitting reference to the term accountant, thereby permitting only merchant bankers to determine th...
Income Tax : Draft Rules for prescribing the method of valuation of fair market value in respect of the trust or the institution ceases to ex...
Income Tax : Notification No. 2/2010-Income Tax at page 20 of the Gazette Notification, in sixth line of clause (B) of sub-rule 2, for “amoun...
The unutilized balance of Cenvat credit in the books of accounts is eligible to be transferred to the new premises when the factory is shifted from one site to another., in terms of rule 10(1) of the Cenvat Credit Rules,2004 (hereafter referred to as CCRs,2004).However, audit objections are being raised against such transfers, where there are no stock of inputs ,capital goods or goods in process at the old site, relying on the sub-rule 3 of rule 10 of CCRs,2004.
Input Service means any service,- (i) used by a provider of output service for providing an output service; or (ii) used by the manufacturer, whether directly or indirectly, in or in relation to the manufacture of final products and clearance of final products, up to the place of removal, and includes services used in relation to modernization, renovation or repairs of a factory,
The Supreme Court has cited two instances where a manufacturer may sell goods at lower prices and yet the declared value can be accepted- (i) company switching over business and (ii) where goods could not be sold within reasonable time]
Rule 8(3A) of Central Excise Rules, 2002 stipulats that if an assessee defaults in payment of duty beyond thirty days from due date, the assessee shall not eligible to utilize cenvat credit for payment of duty and have to pay the duty consignment wise.
According to Rule 5 of Service Tax Rules, 1994, records include computerized data and means the record as maintained by an assessee in accordance with the various laws in force from time to time. Records maintained as such shall be acceptable to Central Excise Officer.
In Continuation to my earlier Article ‘All about CENVAT Credit Rules, 2004- Part 1’ in which I have discussed Rule 2(A) to Rule 5B of Cenvat Credit Rules,2004.I have discussed Rule 6 to 16 of Cenvat Credit Rules,2004 in this Article.
CA Vaibhav Sachdeva Comparative Analysis of Place of Provision (POP) of Service Rules 2012 with Export of Service Rules 2005 and Taxation of Services (Provided from outside India and received in India) Rules, 2006. As per the Notification No. 28/2012 – Service Tax dated 20th June, 2012 – Place of Provision of Services Rules, 2012 shall […]
Q1. What is Customs Value? Ans: Customs Value means the value of goods for the purposes of levying ad valorem duties of customs. Ad valorem duties of customs are duties levied according to the value of goods and are usually expressed as percentages of value.
ection 2(41) of the Customs Act, 1962 defines ‘Value’ in relation to any goods to mean the value thereof determined in accordance with the provisions of sub-section (1) of Section 14 thereof. The provisions of sub-section (1) of Section 14 apply for the valuation of both imported goods and export goods.
Service tax payable by builders – Composition scheme of 25% available to builders done away with?: As per Rule 2A of Service Tax (Determination of Value) Rules, as amended on 17-3-2012 composition scheme of payment of tax @ 25% on value of works contract of construction available to builder, where the total amount charged includes value of land. This rule is amended on 6-6-2012, which is to be effective from 1-7-2012, and provision relating to tax @ 25% of gross value has been deleted. It will be a big blow to builders. Service tax payable on flats will go up considerably.
