packing credit limit

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Ceiling limit of 20 statutory audit increased


Ministry of Corporate Affairs has issued Notification dated June 5 2015 exempting the maximum ceiling of 20 companies as provided in clause g of sub section 3 of Section 141 of the Companies Act 2013

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ICMAI - President Communique - May 2015


Your time is limited so dont waste it living someone elses life Dont be papped by dogma which is living with the results of other peoples thinking Dont let the noise of others opinions drown out your

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FM stresses on use of credit cards instead of cash


FM Stresses the need for use of more Accounted Money and Discourage of use of Unaccounted Money Focuses on use of Plastic Money such as Credit Card Rupay Card and Cheques in lieu of Hard Currency The

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Highlights of Foreign Black money bill


Highlights of the Undisclosed Foreign Income and Assets Imposition of Tax Bill 2015 Introduced in Lok Sabha Today The Finance Minister in his budget speech while acknowledging the limitations under th

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Practicing Company Secretaries allowed to become designated / active partner of a Limited Liability Partnership


Dear Professional Colleagues The Council at its 227th Meeting held at New Delhi on January 18 2015 while approving the formation of LLPs by PCS granted general permission to the members in practice to

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Experts Opinions

What is time limit to avail vat input


what is time limit to pay seller to avail vat input

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Cenvat credit avaiment


Under the RCM scheme if service receiver paid service tax payment and the bill is not on the name of service receiver Can he availed the cenvat credit on the basis of paid challans and also what are t

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Cenvat credit availment under reverse charge mechanism


what is amendment made in budget 2015 regarding cenvat credit regarding availment of partial reverse charge mechanism please provide answer in simple language

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Time limit to reverse cenvat credit


if i have booked expenses but not paid to creditors what is time limit if not paid to service provider under normal as well as reverse charges

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Credit of service tax paid.


Sir We have construction firm and use architect for design my site then he charge fees plus service tax we paid full amount with service tax Can we carry forward this service tax as credit to utilise

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Discussion

Service tax input credit

Dear Sir we are manufacturing co and we have recevied service from one of our consultant for technical services and they have submitted 2 seprate bills one for consultancy charges and other for reimbu

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Service tax limits

I am a Self employed professional giving services to banks and other govt organizations My total bill for a individual organization in a year will not exceed rs 1 00 000 Am I liable to pay service tax

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Karnataka vat - input tax credit

A company is under construction Whether it can take credit of VAT on Items used in construction of building like Steel work railings ready mix concrete and other items used in construction of building

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Cenvat credit on forklifts/JCB's rented

Dear Folks My client deals in renting of construction related equipments Equipments range from Forklift dumper dimper JCBs etc Can he avail excise credit paid on such goods against service tax liabili

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Cenvat credit of education cess of acd 3(1)

whether education cess paid on addtional custom duty 3 1 can be availed for the payment of education cess liability

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  • Exemption to private limited company

    Exemption to private limited company

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  • Important changes under Central and State Tax Laws

    The following are the important changes under Central and State Tax Laws with effect from 1st April 2015 1 Conveyance Allowance Transport allowance granted to an employee is exempted up to Rs 800 per month The limit of exemption is now enhanced to Rs 1600 per month 2 Profession Tax Those whose salary for a month was more than Rs 10 000 were supposed to pay Profession Tax of Rs 150 per month Now from 1st April 2015 the persons drawing salary up to Rs 15 000 per month are exempted from Profession Tax Applicable for Bangalore 3 Profession Tax exemption for senior citizens who have attained age of 60 Years Applicable for Bangalore 4 Wealth Tax Is abolished from 1st April 2015 Keep all the wealth tax papers of past 8 years in safe custody even though wealth tax is abolished from FY 2015 16 5 Mediclaim Insurance The premium paid towards mediclaim insurance is enhanced from Rs 15 000 to Rs 25 000 per year for senior citizen it is enhanced from Rs 20 000 to Rs 30 000 per year u s 80D 6 Basic Exemption Limit for VAT registration in Karnataka Now the traders who expect to do annual taxable turnover sales of less than Rs 10 Lakhs needn t register under Karnataka VAT Laws However other aspects of registration which were applicable till March 2015 will continue to apply 7 Reverse Charge Method under service Tax Laws w r t Manpower Consultancy Currently in case manpower supply or security services is provided by individual HUF or partnership firm to a body or a corporate the service provider is liable to deposit Service Tax to the extent of 25 and service receiver liable to deposit Service Tax to extent of 75 W e f 1st April 2015 Service Tax is not required to be charged by specified service provider i e individuals HUF Partnership Firms and the same is to be paid by the service receiver entirely i e instead of 75 the service receiver has to pay 100 F No 334 5 2015 8 ESIC Payment Through Online Online payment of ESI contribution made easier Now facility for payment of ESI contribution through net banking is made available through State Bank of India and 58 major banks 9 PF Payment Made Online The EPFO payment has been made online Mandatory effective from 1st May 2015

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  • Karnataka VAT- Matching of Input Tax Credits

    Karnataka Commercial Tax Department has issued Notification no CCW CR44 2013 14 dated 29th April 2014 making mandatory for specified class of dealers to furnish purchases and sells details electronically After furnishing details next step is to rectify mismatching of uploaded details This article is an attempt to explain the provisions and procedures and also consequences of non compliance

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  • All about Private Limited Company

    All about Private Limited Company

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  • Note on Incorporation of Pvt Ltd Co

    You will find a basic procedure for incorporation of private limited company under Companies Act 2013

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Articles

Exemptions to private limited companies under Co. Act, 2013


In light of continuous representations being given to the government by Chartered Accountants Trade Associations and Industry seeking relaxation in certain provisions of the The Companies Act 2013 app


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Exemption to private limited company


Dear Professionals MCA u s 462 passed exemption for Private Companies under Companies Act 2013Provisions of companies act 2013 given below will not apply or shall apply with suchexceptions modificatio


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A bird eye on credit rating


Credit Rating Credit Rating is the evaluation of the credit worthiness of an instrument of a company based on perceived overall risk of a companys business and financial profile as well as structural


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Consolidation of accounts for private limited companies


It is believed that to get correct picture of financials of a business the financials of the subsidiaries joint ventures of the company should be analyzed together On this premise the concept of conso


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Credit of Education Cess & SHEC can be used for payment of Excise Duty by Manufacturers


Credit of Education Cess SHEC can be used for payment of Excise Duty by Manufacturers and Gist of Other important Notifications LS passed Finance Bill 2015 The Lok Sabha passed the Finance Bill 2015 w


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Updated on : 6/21/2015 5:36:10 PM





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