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Circulars

Establishment of Branch/Liaison/Project Office in India by foreign entities

May 12, 2016 2677 Views 1 comment Print

Applications from persons resident outside India for establishing Branch Office (BO) / Liaison Office (LO)/ Project Office (PO) or any other place of business in India shall be considered by the AD Category-I bank as per the guidelines issued by the Reserve Bank of India

SEBI Guidelines for public issue of units of InvITs

May 11, 2016 2536 Views 0 comment Print

(1) The Investment Manager on behalf of the InvIT, in line with Regulation 10 (5) of InvIT Regulations, shall appoint one or more merchant bankers, at least one of whom shall be a lead merchant banker and shall also appoint other intermediaries, in consultation with the lead merchant banker, to carry out the obligations relating to the issue.

Delhi VAT: Govt mandates display of Registration Certificate

May 10, 2016 3703 Views 0 comment Print

In compliance of Rule 14(3) of Delhi Value Added Tax Rules, 2005 all the ACs/ward incharges are hereby directed to ensure, within their respective jurisdiction, that all the registered dealers, shall prominently display the certificate of registration at their principal place of business and a certified copy thereof at all other places of business in Delhi.

CBEC Clarification on segregation of impurities

May 10, 2016 1558 Views 0 comment Print

Representations have been received from the members of the trade involved in manufacture of brass products, regarding applicability of provisions relating to clearance of segregated foreign materials as “inputs as such- from imported honey grade brass scrap.

Verification of ITR through EVC pending due to non-filing of ITR-V

May 9, 2016 5380 Views 0 comment Print

Verification of tax-returns for Assessment Years 2009-2010, 2010-2011, 2011-2012 2012-2013, 2013-2014 and 2014-2015 through EVC which are pending due to non-filing of ITR-V Form and processing of such returns-regd.

Examination report on shipping bill must be recorded separately

May 9, 2016 1636 Views 0 comment Print

Examination report on shipping bill must be recorded separately in a self-contained and explicit manner on each of the two aspects of identity and use. The examination report should not be made of phrases that are cryptic, generalised or sweeping in nature such as ‘as per declaration’, ‘in as such condition’, ‘found in order’, ‘found as declared’, ‘goods are same’ etc.

MVAT: Designation of Wednesday as Taxpayers’ Day

May 9, 2016 901 Views 0 comment Print

Further, it is declared that Service Cell Meeting of all dealers and their representatives will be held on first Saturday of third month of every quarter (i.e. June, September, December and March) at all the divisional levels.

Unique TIN under MVAT, CST, Luxury Tax, PT & Entry Tax Act

May 9, 2016 6859 Views 0 comment Print

Unique id in the form of Tax Identification Number under MVAT Act, CST Act, Luxury Tax Act and Maharashtra Tax on the Entry of Goods into Local Areas Act, 2002. It is hereby clarified that scheme of Unique TIN is equally applicable to PTRC under The Maharashtra State Tax on Professions, Trades, Callings and Employments Act, 1975 and to the Maharashtra Purchase Tax on Sugarcane Act, 1962 along with other statutes like VAT, CST, Luxury Tax Acts, and Maharashtra Tax on the Entry of Goods into Local Areas Act, having format of the TIN for PTRC as `27ab0010216P’ and for SCPT as `27ab0010216S’, respectively (ab’ is check digit).

Documents requirement as proof of permanent place of residence for Registration

May 9, 2016 9571 Views 0 comment Print

In view of the above, it is decided that dealer may upload any two documents from the 13 documents mentioned at Sr. No. (1) to (x) of point No. 6 of Table–A of Annexure A annexed to Trade Circular No 7T of 2015 and Sr. No. (xi) to (xiii) mentioned in Trade Circular No. 4T of 2016.

Budget 16: Exhaustive analysis of MVAT, Entry Tax, PT & SCPT Act

May 7, 2016 3256 Views 0 comment Print

Articles deals with Budget 2016 Amendment in 1. The Maharashtra Purchase Tax on Sugarcane Act, 1962(SCPT Act); 2. The Maharashtra State Tax on Professions, Trades, Callings and Employments Act, 1975 (PT Act); 3. Maharashtra Tax on the Entry of Goods into Local Area Act, 2002 (Entry Tax Act): 4. The Maharashtra Value Added Tax Act, 2002 (MVAT Act).

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