Daily Archives: September 23, 2016

Govt exempt Service Tax on upfront amount on Lease of Industrial Plots by State Government Industrial Development Corporations/ Undertakings

By | September 23, 2016

Seeks to exempt taxable service provided by State Government Industrial Development Corporations/ Undertakings by way of granting long term (thirty years, or more) lease of industrial plots to industrial units from so much of service tax which is leviable on the one time upfront amount (called as premium, salami, cost, price, development charges or by… Read More »

Uniform allowance not available if no uniform prescribed by employer

By | September 23, 2016

HIGH COURT OF GUJARAT Oil & Natural Gas Corporation Ltd. v. Assistant Commissioner of Income-tax (TDS) AKIL KURESHI AND A.J. SHASTRI, JJ. TAX APPEAL NOS. 368 AND 371 OF 2016 SEPTEMBER  15, 2016 Vankatraman, LD. Senior Advocate, Akshat Khare and Mrs. Suman Khare, Advocates for the Appellant. Manish Bhatt, LD. Senior Advocate and Mrs. Mauna… Read More »

Scanner -Advanced Auditing & Professional Ethics CA Final for Nov. 2016 Exams

By | September 23, 2016

Scanner -Advanced Auditing & Professional Ethics (CA-Final for Nov. 2016 Exams) (2nd Edition, June 2016) Paperback – 2016 BUY Scanner -Advanced Auditing & Professional Ethics (CA-Final for Nov. 2016 Exams) (2nd Edition, June 2016) Paperback – 2016 Incorporating *More than 730 Question and Case studies along with answers *All questions from Nov. 2008 to May… Read More »

Corporate & Allied Laws for CA Final Nov. 2016 Exam -Book

By | September 23, 2016

Corporate & Allied Laws for CA Final Nov. 2016 Exam Paperback – 2016 BUY Corporate & Allied Laws for CA Final Nov. 2016 Exam This book has been specially designed for the students appearing in CA (Final) Examination of ICAI. It has been written in accordance with the latest syllabus prescribed by ICAI for Paper… Read More »

Consensus eludes GST threshold

By | September 23, 2016

A consensus on turnover threshold over which the proposed goods and services tax (GST) would apply eluded the first meeting of the recently constituted GST Council on Thursday. However, there was a broad agreement that all pending issues, including GST rates and legislative Bills, be thrashed out within two months, so that the new tax… Read More »

GST Council Divided over Tax Rate on Day 1

By | September 23, 2016

There was no consensus on the key issues of tax rate and threshold for taxation on the day one of the first meeting of the Goods and Services Tax Council, which drew up a draft timetable for finalising of crucial issues including tax legislations and framework for its functioning. The meeting will continue on Friday.… Read More »

After Panama Papers, now Bahamas leak revealing 475 India related files

By | September 23, 2016

After Panama Papers, here comes Bahamas leak revealing 475 India related files  After the biggest-ever leak of offshore entities in Panama Papers, here comes the Bahamas leaks. It reveals incorporation details of more than 175,000 companies, trust and foundations registered in Bahamas, the Caribbean tax heaven. An investigation of list by the Indian Express has… Read More »

MEIS -Increase in reward Rate of 575 Items & addition of 2901 new items

By | September 23, 2016

In the backdrop of the continued challenging global environment being faced by Indian exporters, Department of Commerce has extended support to certain new products and enhanced the rate of incentives for certain other specified products under the Merchandise Exports from India Scheme (MEIS).  This has been implemented through DGFT public Notice No 32 dated 22.09.2016.… Read More »

Setting up of Clearance Facilitation Committee for Land Customs Stations and Inland Container Depots

By | September 23, 2016

F. No. 450/115/2016-CUS.-IV Govt. of India Ministry of Finance Department of Revenue Central Board of Excise & Customs Circular No. 44/2016 – Customs New Delhi, dated the 22nd September, 2016 To, All Principal Chief Commissioners/ Chief Commissioners of Customs, All Principal Chief Commissioners/Chief Commissioners of Customs & Central Excise, All Directors General, All Principal Commissioners/Commissioners… Read More »

Limitation Period under Income Tax Act

By | September 23, 2016

Section Nature of compliance Limitation of time (1) (2) (3) 9A(5) Section 9A provides that fund management activity carried out by an eligible offshore investment fund through an eligible fund manager acting on behalf of such fund shall not constitute business connection in India (subject to certain conditions). Within 90 days from the end of… Read More »

RBI Shifted issue date of 5th tranch of Sovereign Gold Bond

By | September 23, 2016

Sovereign Gold Bonds, 2016-17 Series II The Reserve Bank of India, in consultation with Government of India, had notified the issuance of Sovereign Gold Bonds, 2016-17 Series II videIDMD.CDD.No.462/14.04.050/2016-17 and IDMD.CDD.No.463/14.04.050/2016-17. The fifth tranche of Sovereign Gold Bonds was open for subscription from September 01, 2016 to September 09, 2016. The bonds were to be… Read More »

Category: RBI

Sovereign Gold Bond -5th Tranch-More than Rs. 820 crore expected to be realised

By | September 23, 2016

More than Rs. 820 crore expected to be realised through Fifth Tranche of Sovereign Gold Bond (SGB) Scheme from 1st to 9th September, 2016; This is mobilised through over 2.00 lakh applications representing around 2.37 tonnes of gold; The next tranche of SGB Scheme is expected around the third week of October, 2016, prior to… Read More »

Govt announces enhanced support under Merchandise Exports from India Scheme (MEIS) of the Foreign Trade Policy

By | September 23, 2016

Government announces enhanced support under Merchandise Exports from India Scheme (MEIS) of the Foreign Trade Policy In the backdrop of the continued challenging global environment being faced by Indian exporters, Department of Commerce has extended support to certain new products and enhanced the rate of incentives for certain other specified products under the Merchandise Exports… Read More »