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Notifications/Circulars

Manual Scrutiny Selection based on CPC Recommendations

March 22, 2016 22960 Views 0 comment Print

The functionality for viewing such cases which are selected by AO under Manual Scrutiny on the basis of suggestions by CPC for A.Y. 2013-14 and for which order under section 143(3) of the Act has still not been passed, has been enabled in the ITD system and can be accessed by entering the following path in ITD System:

CPC-TDS enables online correction in form 26QB

March 22, 2016 102538 Views 4 comments Print

Section 194IA of the IT Act relates to TDS on Sale of property. Form 26QB is an online statement-cum-challan to be filled and submitted by the buyer of the property for making TDS payment on sale of property. It contains details of buyer, seller, property being sold, sale consideration, tax deposit details etc.

Excise duty on jewellery- No arrest,prosecution, search or seizure

March 21, 2016 12265 Views 3 comments Print

The central excise authorities will not challenge the valuation given in the invoice provided the caratage / purity and weight of the gold/silver with precious stones; and carats of diamond/precious stones are mentioned on the invoice; No arrest or criminal prosecution of any jeweler will be done;

Report- Taxation of E-Commerce: Equalization Levy or Google Tax

March 21, 2016 6229 Views 0 comment Print

The Committee on taxation of E-Commerce examined the tax issues arising from the new business models employed in the digital economy, in particular issues relating to tax nexus rules under existing law and tax treaties, characterization of payments made for services and facilities provided primarily through digital means and issues related to valuation of data and user contribution in profits of digital enterprises.

Sealing and de-sealing of the premises under Delhi VAT

March 21, 2016 2437 Views 0 comment Print

GOVERNMENT OF NATIONAL CAPITAL TERRITORY OF DELHI DEPARTMENT OF TRADE AND TAXES (POLICY BRANCH) VYAPAR BHAWAN,I.P. ESTATE,NEW DELHI-110002 NO.F.3(645)/POLICY/VAT/2016/1739-44     DATED: 21/03/2016 CIRCULAR NO. 43 of 2015-16 Sub: Sealing and de-sealing of the premises In supersession to earlier Circular No. 41, 2015-16 issued vide No.F.3(645)/POLICY/VAT/2016 /1688-93/ dated 16-03-2016 regarding sealing and de-sealing of the […]

Govt. appoints 250 IRS officers to the grade of JCIT

March 21, 2016 5260 Views 0 comment Print

The President is pleased to appoint the following officers of Indian Revenue Service to the grade of Joint Commissioner of Income Tax purely on Ad-hoc basis in PB-3 (Rs,15,600-39,100 with GP Rs 7,600) with effect from 1st April, 2016 or assumption of charge of the post, whichever is later, for a period not exceeding one year.

Notification No. 20/2016-Income Tax, Dated: 21/03/2016

March 21, 2016 928 Views 0 comment Print

The terms and conditions mentioned in this notification as well as those included in the aforesaid Industrial Park Scheme, 2008 should be adhered to during the period for which benefits under the said scheme are to be availed and in case the undertaking, fails to comply with any of the conditions, the Central Government may withdraw the aforesaid approval.

DGFT permits export of 723 MT of raw cane sugar to US

March 21, 2016 697 Views 0 comment Print

Government of India Ministry of Commerce & Industry Department of Commerce Udyog Bhawan Public Notice No.66/2015-2020 New Delhi, the Dated: 21 March, 2016 Subject:- Allocation of additional quantity for export of sugar to USA under Tariff Rate Quota (TRQ). In exercise of the powers conferred under Paragraphs 2.04 of the Foreign Trade Policy, 2015-2020, the […]

Delhi VAT: Assessment of Enforcement Survey/Seizure Cases

March 19, 2016 2635 Views 0 comment Print

It has now been decided to assign the assessment of all cases pursuant to Enforcement surveys to officers of wards concerned except the cases for which proceedings/jurisdiction has been transferred by the Commissioner, Value Added Tax through a separate order under section 67 of Delhi Value Added Tax Act, 2004.

Error correction in Focus Product Scheme on Servo & Other Brakes & Part thereof

March 18, 2016 829 Views 0 comment Print

The item under description, Other – Brakes and Servo Brakes and Part thereof has been incentivized irrespective of the ITC(HS) codes (87082900 or 87083000) mentioned against the product description, exported under Foreign Trade Policy 2009-14 between 05.06.2012 and 24.02.2014.

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