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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

credit booking

a service provider raised a bill nd deduct service tax two yrs ago and also paid to govt but cant get the payment till now from SR and SR deny for payment whether he can book the credit of service tax paid plz ans with supportive section

Cenvat credit on capital goods.

Hello All A Pvt Ltd co has factory in Non excisable Zone It is enjoying excise duty holiday from last 5 years Now as 5 years are completed of tax holiday it will be liable to pay excise My Query is 1 Can the co take excise duty credit on capital goods which were purchased in tax holiday period 2 Wha

Service tax cenvat credit

Dear Sir We are manufacturing company 1 We have paid service tax on Import service bill dt 30 06 2016 on 02 07 2016 and taken the cenvat credit for the month of June Only please confirm whether we are right or wrong 2 We are paying service tax on security charges Receiver and taken cenvat credit for

Service tax return for credit only

We have no service tax liability We have only credit on telephone bills Whether these credit should be shown in return or to file 100 blank return or a nil return

CA IPCC Service Tax and Cenvat Credit Nov 16

Sir I need Pratical Question about Services Tax and Cenvat Credit applicable for Nov 2016 of IPCC Kindly help me


Service tax input credit

we are a trader a pvt ltd firm we pay service tax under reverse charge on account of freight for goods received our electricity telephone and many other such utilities is also registered in the name of the firm so my query is since we pay service tax on mobile telephone bill which is registered in t

Cenvat credit rule

reference to where an company is an Advertising Agency having some Export sales also but at the time of payment of Service Tax Company utilized 100 Cenvat Credit on common Input services like Rent Audit Fees etc Refer if any decided case laws

Pvt ltd cpmany pays credit card bill of director

Hello everyone We are a newly incorporated IT company and we do not hold any corporate credit card as if now There are lots of expense in our business which are paid in USD using only credit card for example purchase server space from Amazon We use Directors personal credit card for all these expens

Cenvat credit of service tax

As service tax on insurance agent services fall under RCM and tax is paid by insurance company then what is treatment of input service tax in the books of insurance agent as insurance agent is not liable to pay service tax that s why he can t utilize the cenvat credit

Import igst credit

Dear Friends X of Punjab imports goods of Rs 10000 he pays BCD 12 Rs 1200 IGST 18 rate assumed 18 x 11200 2016 Importer Cost 10000 1200 2016 13216 Now X sells goods to Y in Punjab as under Cost 13216 Add Margin 31784 Total 45000 CGST 9 4050 SGST 9 4050 Invoice Value 53100 My question is will Y get c

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Seamless Credit in GST - A Dream?

The proforma credit for some inputs in its initial form has grown to Modvat 1987 expanded to dealers capital goods 1994 Cenvat reduced permissions intimations VAT 2003 2009 States Service Tax credit for manufacturers and excise for service providers in 2003 4 was further expansion After this for a d

Input tax credit under GST

Introduction Under GST it is envisaged that there will be seamless flow of credit from each stage from manufacturer to trader and till the last businessman in the chain making the commercial transaction wherein eventually the tax burden will fall on to the final consumer but the tax burden will be r

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

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Updated on : 10/23/2016 2:42:10 PM


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