Daily Archives: September 14, 2016

Amnesty Scheme for Builders under Haryana VAT released on 12th September 2016

Amnesty Scheme for Builders under Haryana VAT released on 12th September 2016 The much awaited Amnesty Scheme under Haryana VAT has been released for builders and other work contractors on 12th September 2016, to be called as Haryana Alternative Tax Compliance Scheme for Contractors, 2016, vide Notification No.19/ST-1/H.A.6/2003/S.59A/2016- dated 12th September, 2016. The principle features… Read More »

Foreign trip expenses of Doctors & their spouses by Pharma Co Disallowed

IN THE ITAT MUMBAI BENCH ‘A’ Assistant Commissioner of Income-tax, Circle 6 (3), Mumbai v. Liva Healthcare Ltd. MAHAVIR SINGH, JUDICIAL MEMBER AND RAMIT KOCHAR, ACCOUNTANT MEMBER IT APPEAL NOS. 904, 945 (MUM.) OF 2013 [ASSESSMENT YEAR 2009-10] SEPTEMBER  12, 2016 A. Ramachandran for the Appellant. B.V. Jhaveri for the Respondent. ORDER   Ramit Kochar,… Read More »

Implementation of GST to attract more FDI

Implementation of GST to attract more FDI September 14, 2016 Implementation of Goods & Service Tax (GST) will lead to increased tax compliance and attract more foreign direct investments across sectors due to tax transparency and ease of doing business, says a survey. According to a survey of corporate India by Feedback Business Consulting Services,… Read More »

Category: GST

GSTN working with SAP, Oracle to get India Inc GST- ready

In a race against time to roll- out the goods and services tax (GST) from April 1, 2017, the GST Network (GSTN) —developing the information technology backbone for the new tax regime — is working closely with business process management (BPM) software firms like SAP, Tally and Oracle, among others, to facilitate timely preparedness of… Read More »

Category: GST

Petroleum products likely to be brought under GST regime

Petroleum products likely to be brought under GST regime Petroleum productscould be taxed under the proposed goods and services tax (GST). If it would happen, this move will reduce the imperfections in the new levy and also narrow the inflationary impact of the tax. A proposal favouring imposition of a modest tax on these products… Read More »

Category: GST

Tax Audit & Return filing due date extended to 17 Oct 2016 :CBDT Clarify

Note : CBDT had extended the due date of furnishing ITR to 17th October but there was no clarity about Tax Audit Due Date . So clarification has been issued that Tax Audit date has also been extended. F. No. 225/195/2016-ITA II Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes… Read More »