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President assents to repeal over 700 archaic laws

May 9, 2016 1759 Views 0 comment Print

Hon’ble presidents has given his assent to the Appropriation Acts (Repeal) Act, 2016 as passed by Rajya Sabha on 27.04.2016. The Act repeal 758 Appropriation Acts, including Appropriation Acts for the railways, passed during the period of 1950-2012. These laws have ceased to be in force after one year of their enactment, and are hence obsolete. Out of the 758 acts, 111 state appropriation acts enacted by Parliament during 1950 to 1976 are repealed.

ICAI held 2 CAs guilty of Other professional Misconduct

May 9, 2016 20338 Views 0 comment Print

Shri Pawan Kumar Gulati (Membership No. 095137), Chartered Accountant, 569, J.P. Nagar, Jalandhar – 144 002 has been held guilty of Professional Misconduct falling within the meaning of Clause (1) of Part II of the Second Schedule to the aforesaid Act by the Disciplinary Committee which ordered for removal of the name of aforesaid Shri Pawan Kumar Gulati (Membership No. 095137) from the Register of Members for a period of one (1) month.

Delhi VAT: Change in rate of VAT in schedules wef 10.05.2016

May 9, 2016 5602 Views 0 comment Print

(a) for the existing row pertaining to serial no. 9, the following row shall be substituted, namely : – Un-manufactured tobacco, tobacco and tobacco products in all forms such as cigarettes (irrespective of form and length), chewing tobacco, gutkha, cigars, hooka tobacco, khaini, zarda, surti, bidis etc.- Twenty paise in the rupee

Examination report on shipping bill must be recorded separately

May 9, 2016 1654 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: Constitution & Members of Advance Ruling Authority

May 9, 2016 1498 Views 0 comment Print

The Authority shall come into existence with immediate effect and shall function as per the provisions of section 55 of the Maharashtra Value Added Tax Act, 2002 and rule 63 of Maharashtra Value Added Tax Rules, 2005.

MVAT: Designation of Wednesday as Taxpayers’ Day

May 9, 2016 916 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 6880 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 9601 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.

Reg. Import of Radio remote control apparatus

May 9, 2016 1834 Views 0 comment Print

Import of Radio remote control apparatus is `Free’ subject to licence issued by the WPC wing of Department of Telecommunications, Ministry of Communications and Information Technology.

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

May 7, 2016 3280 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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