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Big Boost to Ease of Doing Business- Passing of Bankruptcy Code


Big Boost to Ease of Doing Business Passing of Bankruptcy Code Code is a comprehensive and systemic reform which will give a quantum leap to the functioning of the credit market and would take India from among relatively weak insolvency regimes to becoming one of the worlds best insolvency regimes V

Draft rules for foreign tax credit


Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes Subject Draft rules for grant of Foreign Tax Credit reg The Income tax Act 1961 the Act provides that the Central Board of Direct Taxes may prescribe rules specifying the procedure for grant of relief or dedu

Extension of time for CEP Credit Hours for renewal of COP


Dear Members As you are aware that in case of members holding Certificate Of Practice COP as per the Guidelines for Mandatory Training for all Members of The Institute under Continuing Education Programme it is mandatory to undergo minimum mandatory training of 15 hours per year commencing from 1st

Report of the Committee on Taxation of E-Commerce


Executive Summary The Committee on taxation of E Commerce examined the tax issues arising from the new business models employed in the digital economy in particular issues relating to tax nexus rules under existing law and tax treaties characterization of payments made for services and facilities pr

Scheme for speedy grant of refund accumulated in cenvat credit


Scheme formulated for Speedy grant of refund of accumulated and unutilised CENVAT credit to help in ease of doing business by unlocking the accumulated credit Exporters of services today accumulate CENVAT credit on both input services and input goods as they are unable to set off their input levies

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Experts Opinions

Service tax input credit


Dear All We are in the field of Works Contract of Construction We charge Service Tax 10 50 and 6 inclusive SBC and KKC in our sales bill Please tell me whether can we take credit of Service tax paid on Bank Charges Professional fees Labour charges Bill Also tell which services are not eligible to ta

Credit of vat input on import and export


Hi All Just want know whether I can taken the credit of vat input on packaging used in containers of goods on export of chillies towards the payment of out put vat on local sale of chemicals in the name of same proprietor which is an import of chemical thnx

Fps/meis and cenvat credit


I would like to import eligible goods clear exciseble goods under FPS MEIS credit scrip Am I eligible for CENVAT Credit

Cenvat credit on capital goods


Sir We purchase a machine in March month gate inward in March but machine installed after two month in May Can we availed credit in march My query is Machine installation is mandatory to availed Capital Goods credit

Refund claim or revrse service tax payable in cenvat credit


my company had a raised a invoice in FY 2013 14 for rs 1 00 000 service tax 12 360 total 1 12 360 but service tax alrady paid to government but company paid only 75 000 now question is that unrealised service tax can be climed as refund OR reverse entry for service tax payable Dr To debtors account

Discussion

Cenvat rule 6

How calculate 6 excise Duty Reverse in Cenvat Rule 6 this calculation make on Goods selling price Goods Cost

EDU & SHE cenvat credit utilisations against the payment of basic service tax liability

Hello Everyone Please help me out for resolving my following query as per the revised service tax rate no more EDU SHE is levied on service tax so mine question is whether cenvat credit of EDU SHE can be utilised for the payment of basic service tax liability EDU SHE cenvat credit balance pertains t

Cenvat credit

Dear All Can i use cenvat credit with Original Invoice I dont have duplicate for transport copy Please suggest me

Best Summary/Revision book for Idt? Vineet Sodhani or Yashvant Mangal?

HiDue to shortage of time I m doing only service tax from bangar and thinking of doing excise and customs from a good concise book and solving questions from PM Please suggest whether the revision module of Vineet Sodhani would be good for this purpose or Yashvant mangal

Ca final sfm derivatives summary by ca. gaurav jain

CA FINAL SFM DERIVATIVES SUMMARY BY CA GAURAV JAIN

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Articles

Cenvat credit on rent a cab


Denying of CENVAT credit on service of rent a cab is favourite to revenue officers For the period upto 01 04 2011 courts tribunals allowed the credit however with advent of specific exclusion in the definition of Input service so as to disallow the credit on rent a cab services most of the assessees


Maharashtra Settlement of Arrears in Disputes Act, 2016 - Summary


Maharashtra Settlement of Arrears in Disputes Act 2016 is a form of Amnesty Scheme effective from April 2016 till 30 September 2016 came in force from 26th April 2016 The following Tax Acts are covered Maharashtra Value Added Tax Act 2002 Central Sales Tax Act 1956 Profession Tax Act 1975 Maharashtr


Transfer Pricing Adjustment - Interest free Credit Period and Notional Interest


Transfer Pricing Adjustment Interest free Credit Period as an International Transaction The treatment of extended credit period to Associated Enterprises AEs as an international transaction and making adjustment of notional interest on the same has always been bone of contention between the assessee


Rules for Grant of Foreign Tax Credit in India


Rules for Grant of Foreign Tax Credit in India Central Board of Direct Taxes CBDT has vide Notification no 54 2016 dated 27th June 2016 notified Rules for grant of Foreign Tax Credit FTC The said rules are applicable from Assessment Year 2017 18 onwards Earlier the CBDT had released draft FTC rules


Transitional provisions: Carry forward of Credits under GST


The article is first in the series of articles to discuss intricacies of transitional provisions from existing indirect tax laws to Goods and Service Tax GST regime This also highlights various open issues which need to be addressed timely by government so that there is smooth transition to Goods an


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Updated on : 9/20/2016 4:02:44 PM


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