Daily Archives: May 14, 2016

Sim cards value to be included in taxable services

CESTAT, MUMBAI BENCH Loop Mobile India Ltd. v. Commissioner of Service Tax, Mumbai-I M.V. RAVINDRAN, JUDICIAL MEMBER AND C.J. MATHEW, TECHNICAL MEMBER ORDER NO. A/86524/2016/STA APPEAL NO. ST/236/2012-MUM. MARCH  1, 2016 Vinay Jain, CA for the Appellant. B. Kumar Iyer, Supdt. (AR) for the Respondent. ORDER M.V. Ravindran, Judicial Member – This appeal is directed… Read More »

Members of the Insurance Advisory Committee

NOTIFICATION F.NO.IRDAI/IAC/6/118/2016 DATED 4-4-2016 In exercise of the powers conferred by sub section (1) of section 25 of the Insurance Regulatory and Development Authority Act, 1999 (41 of 1999), the Authority hereby makes the following notification: The following members are appointed as Members of the Insurance Advisory Committee with effect from the date of notification… Read More »

Finance Bill 2016 assented to by President

Finance Bill, 2016 assented to by President The Finance Bill was presented in the Lok Sabha on February 29, 2016. On May 5, 2016, the Lok Sabha passed the Finance Bill, 2016 and later on it was approved by the Rajya Sabha.The Finance Bill, 2016 received the presidential assent on May 14, 2016. Now it… Read More »

Tax Deductor registration on Incometaxindiaefiling.gov.in

Tax Deductor registration Tax Deductor and Collector User Registration Pre-requisites for Tax Deductor registration in the e-Filing application  User must have a valid TAN. Tax Deductor registration  Process for New Users  Type the URL of e-Filing application in a browser. (https://incometaxindiaefiling.gov.in)  Click on the ‘Register Yourself’ button and select ‘Tax Deductor and Collector’.… Read More »

Res judicata

Res judicata Res judicata  also known as “Claim Preclusion”. It is a Latin term for “a matter already Judged.” It simply means that one cannot agitate a matter in a Court of law on which a Judgment has already been delivered. In British India the rule of Res Judicata was first introduced by Section 16… Read More »

MS Steel Angles /parts CENVAT not available to Infra Companies

The Larger Bench of New Delhi CESTAT, held that the passive infrastructure companies hiring out telecom towers, to telecom companies, taxable under ‘Business Auxiliary/Support Services’, are not eligible to claim CENVAT Credit of MS Steel Angles/parts, pre-fabricated shelters parts, etc. used in erection of such towers. In the said case, the assessees were providing ‘business… Read More »

Internal Audit services eligible for CENVAT Credit

Held In the case of DRP Malleables (P.) Ltd.  the Tribunal held that Chartered Accountant Service is specifically covered under the scope of input service and the assessee is eligible for availing credit. In my considered view, the Chartered Accountant Service related to day-to-day service cannot be reason for denial of CENVAT credit. So, the… Read More »