Daily Archives: December 5, 2015

Agriculture meaning changed in GST

Meaning of agriculture as per  Service Tax :- As per Section 65 B (3) of Chapter V of the Finance Act, 1994 ( inserted (w.e.f. 1.7.2012) by s.143 of the Finance Act.. 2012 ( 23 of 2012) ) :- “agriculture” means the cultivation of plants and rearing of all life-forms of animals, except the rearing of horses, for food,… Read More »

Category: GST

Taxable person under GST

Model GST Law GOODS AND SERVICES TAX ACT, 2016 What is Person under GST ? Section 2(50) “person” includes— (a) an individual; (b) a Hindu undivided family; (c) a company; (d) a firm; (e) an association of persons or a body of individuals, whether incorporated or not, in India or outside India; (f) any corporation established… Read More »

voyage of vessel between two ports in India, as ‘ international traffic ‘ if it is part of international journey

If ships in question, therefore, were operated solely between Kandla and Visag, in the present case, such transport would be excluded from the definition of term ‘international traffic’. Here, the word ‘solely’ is all important. It is not even the case of the revenue that the journey being undertaken by such vessels in question were… Read More »

E-Sahyog to report mismatch in income tax return via sms and email

E-Sahyog Project; Aims at Reducing Compliance Cost, Especially for Small Taxpayers The Government has launched ‘e-Sahyog’ project on a pilot basis. It is aimed at reducing compliance cost, especially for small taxpayers. The objective of ‘e-Sahyog’ is to provide an online mechanism to resolve any mismatch or discrepancy in information as per Income-tax return of… Read More »

Expeditious issue of Income Tax Refund below 50000

F.No No.312/109/2015-0T Government of India Ministry of Finance Central Board of Direct Taxes (CBDT) New Delhi, Dated: 2nd December, 2015 Sir/ Madam, Sub: Expeditious issue of refunds below Rs.50,000/- in Non-CASS cases for AYs 201.3-1.4 and 2014-15 I am directed to say that as on 01,11.2015, there were 2,07 lakh returns involving refund claims of… Read More »

Timely cancellation of bond executed with Customs in advance authorisation cases

Instruction F. No. 605/71/2015-DBK Government of India Ministry of Finance, Department of Revenue Central Board of Excise & Customs New Delhi, dated the December 2nd 2015 To Principal Chief Commissioners / Chief Commissioners (All) Principal Directors General / Directors General (All) Principal Commissioners/Commissioners (All) Madam/Sir, Subject: Timely cancellation of bond executed with Customs in advance… Read More »