Daily Archives: June 24, 2016

Leave Encashment Tax Treatment

Leave Encashment Taxation of Leave Encashment Section 10(10AA) of the Income-tax Act, 1961, provides for exemption of the amount received by an assessee by way of leave encashment, under certain conditions and to a certain extent. Any leave encashment received by an employee of the Central Government or a State Government at the time of his… Read More »

Tax benefit of Leave Encasement is available in case of resignation also

Section 10(10AA) provides the exemption in case of Leave Encasement Whole  of payment received by an employee of the Central Government or a State Government upto Rs 3 Lakh received by an employee, other than an employee of the Central Government or a State Government In this case Hon’ble High Court held that  whether Leave Encasement… Read More »

Auction of warehoused imported goods not liable for Service Tax

Issue  : whether proceed of auction of warehoused imported goods in case of importer abandoned the goods, shall be considered as service charges towards storage or warehouse and is liable for service tax ? Held The auction charges adjusted towards warehousing charges cannot be considered as receipt of any services and hence not liable to demand… Read More »

No Service tax on transportation of goods by vessel from outside India if Invoice issued before 01.06.2016

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (i)] GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) NOTIFICATION No. 36/2016-Service Tax New Delhi, the 23rd June, 2016 G.S.R. —(E).- In exercise of the powers conferred by sub-section (1) of section 93 of the Finance Act, 1994 (32 of… Read More »

Cost of Material with wages can not exceed 40% under MNREGA

MINISTRY OF RURAL DEVELOPMENT NOTIFICATION New Delhi, the 22nd June, 2016 S.O. 2182(E).—In exercise of the powers conferred by sub-section (1) of section 29 of the Mahatma Gandhi National Rural Employment Guarantee Act, 2005 (42 of 2005) (hereinafter referred to as the said Act), the Central Government, being satisfied that it is necessary and expedient… Read More »

Service Charges payable to local civic bodies to be booked under RRT

Directorate General of Human Resource Development (Expenditure Management Cell) Central Excise & Customs, IRCON Building, West Wing, Ground Floor, Plot No. C-4, District Centre, Saket, New Delhi-110017 F.No. 910/6/Service Charges/HRD/13 Dated: 23.06.2016 To, All the Budgetary Authorities under CBEC. Sir/Madam, Sub: “Service Charges” payable to local civic bodies to be booked under `RRT’ Object Head… Read More »

Put up List of withdrawn cases from CESTA and High Court : CBEC

F.No.390/Misc./38/2016-JC Ministry of Finance Department of Revenue Central Board of Excise & Customs New Delhi, Dated: 23rd June, 2016 To, All the Principal Chief Commissioners / Chief Commissioners of Customs, Central Excise and Service Tax <cbec@icegate.gov.in> Sub:- Action points arisen out of the Chief Commissioner’s Annual Conference—regarding Sir/Madam, I am directed to invite your kind… Read More »

Reward to informers and Government Servants

No. 13011/01/2013-Cus (AS) Government of India Ministry of Finance Department of Revenue Central Board of Excise & Customs (Anti-Smuggling Unit) Circular No.29/2016 Dated: 23rd June, 2016 To 1. All Principal Chief/Chief Commissioners of Customs/Customs (Preventive)/ Central Excise/Service Tax 2. Principal Directors General/Directors General, under CB EC, 3. Chief Commissioner (Authorised Representative-CESTAT) 4. Principal Commissioners/Commissioners of… Read More »