File Content -
TAX CONNECT – 77th Issue JAV & ASSOCIATES
(17 Jul 2016 – 23 Jul 2016) Page 1 Chartered Accountants
TAX CONNECT
77th
Issue
17 Jul 2016 – 23 Jul 2016
INCOME TAX
CENTRAL EXCISE SERVICE TAX
GST
CUSTOMS
STATE TAXES
JAV & ASSOCIATES
Chartered Accountants
Kolkata:
1, Old Court House Corner
^Toao House_ t
Floor
Room No.-13 (North)
Kolkata-70001
West Bengal
Vadodara:
Quarter no. 3/174
Gujarat Refinery Township
Jawaharnagar
Vadodara-391320
Gujarat
Contact:
+919331042424; +91931594980;
+918697575185; +913322625203 Email:
tb.chatterjee@yahoo.co.in; cavivekjalan@gmail.com; vivek.jalan@icai.org
TAX CONNECT – 77th Issue JAV & ASSOCIATES
(17 Jul 2016 – 23 Jul 2016) Page 2 Chartered Accountants
WORKSHOP ON GST
TAX CONNECT – 77th Issue JAV & ASSOCIATES
(17 Jul 2016 – 23 Jul 2016) Page 3 Chartered Accountants
Friends 18 th
July 2016 would be the D Day w.r.t. to GST when the
Constitutional Amendment bill, now popularly known as
the GST Bill will be tabled in the upper house. The whole
country now hopes that The Congress would set aside its
political differences and allows the GST Bill to pass. This
week we have witnessed the firming up of positions and
strategies and negotiation for the legislative work during
the session by The Government for the passage of the
Bill in the Rajya Sabha. The strategy has two
components: Passing GST with the Congress; and what to
do if the Congress opposes the Bill in its current form.
We on our part have already scheduled a Workshop on
GST on 5 th
August where we would try to analyze the
Model GST Law 2016 in detail.
In WB VAT , due to maintenance issues return filing has
been put on hold. The due date of filing of return shall be
extended and the intimation shall be available soon.
Further all dealers with a CTP of more than Rs.50 Lakhs
and all private companies shall take a DSC to avail of
online services. However it is to be noted that the DSC
used for Income Tax/ MCA purposes may not be
suitable for VAT.
In Income Tax , The Income Declaration Scheme, 2016
has generated a lot of confusion and picked up steam of
late. CBDT has clarified there is no modification or
alteration to the rate of tax, surcharge and penalty
payable under the Scheme which remain 45% of
undisclosed income. In Central Excise & Service tax
, there is a welcome and
long awaited clarification from the Government that no
recovery proceedings would be initiated against the
assessee who has already paid the pre-deposit amount
to the credit of the Government.
Earlier the Central Government vide Circular No.
967/1/2013-CX dated 01.01.2013 provided clarification
on the issue of recovery of confirmed demands during
the pendency of stay application filed by the
assessee. Hor, Hov[le High Court of Puvja avd
Haryana judgment in case of M/s PML Industries Ltd. Vs
Commissioner of Central Excise - 2013-TIOL-201- HC-P&H-
CX pronounced that during the pendency of stay,
irrespective of the conduct of the assessee, no recovery
could be made. SLP filed by the Department against this
judgment has also been dismissed by the Hon'ble
Supreme Court, thus upholding the decision of the
Hon'ble High Court. Based on the decisions, Circular No.
967/1/2013-CX dated 01.01.2013 has been rescinded by
the Government.
In another welcome move, Vide Notification No.
31/2016 dated 11-07 -2016, the requirement of
mandatory physical verification of the manufacturing
premises has been waived at the time of Central Excise
Registration in respect of manufacturers of Ready Made
Garment & Made up items of Textile.
Just to reiterate that we remain available over a
telecom or e-mail.
Truly Yours
Timir Baran Chatterjee
M.Com, FCS, MBA (International Business)-IIFT, ACMA
Vivek Jalan
FCA, CIDT (ICAI), B. Com
INDEX EDITORIAL
TAX CONNECT – 74 th
Issue JAV & ASSOCIATES
(26 Jun 2016 – 02 Jul 2016) Page 4 Chartered Accountants
S. NO. TOPICS
PAGE
NO.
1] COMPLIANCE CALENDAR 5
2] GOODS & SERVICE TAX (GST): MODEL GST LAW, 20 16 – TRANSITIONAL PROVISIONS contd.. 6
3] CENTRAL TAXES
a) SERVICE TAX 7
Case Law No penalty is leviable on service tax and interest discharged by the assess ee before issuance of
Show cause notice
Case Law Courtesy services or assistance rendered by the service provider to the se rvice receiver beyond the
scope of the contractual obligations shall not be included in the taxable value of services.
b) Central Excise 8
Notification/Circular Mandatory physical verification of manufacturing premises in respect of manu facturers of
readymade garments and made up articles of textiles waived
Notification/Circular Clarification on recovery of confirmed demands during the pendency of stay app lication
Notification/Circular Scope of word 'site' in Notification No. 12/2012-Central Excise
c) Customs 9
Notification/Circular Sugar exported under Advance Authorization Scheme exempted from export duty
Notification/Circular Notification no.18/2003-customs dated 1st March 2003 pr oviding rate of interest in relation to
warehoused goods rescinded
Notification/Circular Amendment in Notification no. 12/2012-customs, dated 17.03.2012: Additional body no tified for
availing duty free import entitlement
Notification/Circular Honnavar port, Karnataka notified for loading /unloading of goods
Notification/Circular Sale of goods at duty free shops in Indian currency
d) Income tax 10
Notification/Circular Clarification on The Income Declaration Scheme, 2016
Notification/Circular Information received under the Income Declaration Scheme, 2016 shall not be produced by any
public servant
Notification/Circular Income-tax (19th Amendment), Rules, 2016 Notification/Circular Clarification on applicability of section 197A(Id) and section 10(15)(viii) of the Income-Tax Act,
1961 to interest paid by IFSC banking units (IBUs)
4] State taxes 11
Notification/Circular
Andhra Pradesh: Tax rate reduction on cell phone, cell phone chargers and cell ph one batteries
from 14.5% to 5%
Assam: Imposition of tax on tea sold by GTAC broker in course of inter-state trade or commerce to
the registered buyers under Pan India Auction system, Verification of the transit passes of all the
en -route states
Bihar: Compulsory filing of returns by electronic means
Uttarakhand: Reduction in cess on carriage of specified goods by road
5] IN STANDS - GST: MODEL LAW 2016 & BUSINESS PROCESSES : A TECHNICAL COMMENTARY 12
6] BOOK EXCLUSIVELY ON WORKS CONTRACT ( SERVICE TAX AND VAT)
13
TAX CONNECT – 77th Issue JAV & ASSOCIATES
(17 Jul 2016 – 23 Jul 2016) Page 5 Chartered Accountants
Due date COMPLIANCES FROM 17th July, 2016
to 23rd
July, 2016
STATUTE
20th July, 2016 Deposit of VAT of previous month Karnataka VAT Act,
Tamil Nadu VAT Act, Chandigarh VAT Act
Punjab VAT Act (if payment by cheque)
Uttar Pradesh VAT Act, Uttarakhand VAT Act,
Manipur VAT Act, Goa VAT Act (if Tax> or = Rs. 1 lac)
Filing of monthly/quarterly
VAT return
Karnataka VAT Act (Monthly)
Tamil Nadu VAT Act(Monthly)
Uttar Pradesh VAT Act (Monthly)
Uttarakhand VAT Act (Monthly)
Punjab VAT Act (Monthly, if payment is through cheque)
Manipur VAT Act (Monthly, if PY turnover is >Rs. 40 lacs)
Deposit of P T ax of previous month Karnataka VAT Act, West Bengal VAT Act
Deposit of Entry tax of previous month Andhra Pradesh VAT Act, Karnataka VAT Act
Uttar Pradesh VAT Act, Uttarakhand VAT Act
Deposit of WCT of previous month Andhra Pradesh VAT Act, Karnataka VAT Act
Tamil Nadu VAT Act, Uttar Pradesh VAT Act
Uttarakhand VAT Act, Goa VAT Act (Tax >/= Rs. 1 lac)
Filing of monthly/quarterly WCT return Karnataka VAT Act (Monthly)
Uttarakhand Vat Act (Quarterly)
Issuance of WCT certificate Uttar Pradesh VAT Act , Manipur VAT Act
21st July, 2016 Deposit of VAT of previous month Delhi VAT Act, Maharashtra VAT Act,
Odisha VAT Act, West Bengal VAT Act
Assam VAT Act, Nagaland VAT Act
Meghalaya VAT Act
Filing of monthly/quarterly VAT return Assam VAT Act (Monthly)
Maharashtra VAT Act (Monthly)
Odisha VAT Act (Monthly)
Meghalaya VAT Act (Monthly)
Deposit of WCT of previous month Maharashtra VAT Act
Deposit of Entry tax of previous month Odisha VAT Act, West Bengal VAT Act
Deposit of Ptax of previous month Odisha VAT Act
ESI deposit of previous month ESI Act
22nd July, 2016 Deposit of VAT of previous month Gujarat VAT Act
Deposit of WCT of previous month Gujarat VAT Act
Issuance of WCT certificate Delhi VAT Act
Deposit of Entry tax of previous month Gujarat VAT Act
COMPLIANCE CALENDAR
TAX CONNECT – 77th Issue JAV & ASSOCIATES
(17 Jul 2016 – 23 Jul 2016) Page 6 Chartered Accountants
MODEL GST LAW 2016: TRANSITIONAL PROVISIONS
contd..
Price revision in pursuance of a contract
If in relation to a contract entered into prior to the
appointed day, the price of any goods and/or
services is revised on or after the appointed day, the
taxable person who had removed/provided such
goods/services or sold such goods, may issue a
supplementary invoice/debit/credit note within 30
days of revision.
In case of downward price revision, the taxable
person shall be allowed to reduce his tax liability only
if the recipient has reduced his corresponding input
tax credit.
Pending Refund claims under earlier law
Any refund claim filed before the appointed day,
shall be disposed of in accordance with the
provisions of earlier law. If any claim is fully or
partially rejected, the amount so rejected shall lapse.
Pending Cenvat credit/input tax credit claim under the
earlier law
Every proceeding of appeal, revision, review or
reference relating to a claim for CENVAT credit/input
tax credit under the earlier law shall be disposed as
per earlier law and shall not be admissible as input
tax credit under this Act.
Any such proceeding relating to recovery of CENVAT
credit/input tax credit under the earlier law shall be
disposed as per earlier law and the amount so
recovered shall not be admissible as input tax credit
under this Act.
Proceedings relating to output duty/tax liability
Every proceeding of appeal, revision, review or
reference relating to any output duty/tax liability
initiated before the appointed day, shall be disposed
as per earlier law. The same shall be recovered as an
arrear of tax under this Act shall not be admissible as
input tax credit.
If any amount is to be refunded to the claimant, the
same shall be refunded as per earlier law and shall
not be admissible as input tax credit under this Act.
Amount recovered or refunded in assessment or
adjudication proceedings
In assessment or adjudication proceedings instituted
before or after the appointed day, under the earlier
law, if any amount of tax, interest, fine or penalty
becomes recoverable from the taxable person, the
same shall be recovered as an arrear of tax under
this Act and the amount so recovered shall not be
admissible as input tax credit
If any amount becomes refundable to the taxable
person, the same shall be refunded in accordance
with the provisions of earlier law.
Amount recovered or refunded due to revision of
returns
If any return, furnished under the earlier law, is
revised and any amount is found to be recoverable
from the taxable person, the same shall be recovered
as an arrear of tax under this Act and the amount so
recovered shall not be admissible as input tax credit under this Act.
If any amount becomes refundable to the taxable
person, the same shall be refunded in accordance
with the provisions of earlier law.
GOODS & SERVICE TAX (GST)
TAX CONNECT – 77th Issue JAV & ASSOCIATES
(17 Jul 2016 – 23 Jul 2016) Page 7 Chartered Accountants
SERVICE TAX
CASE LAWS
M/S. SRI KRISHNA PACKAGING VERSUS CCE & ST,
CHENNAI- I [CESTAT CHENNAI]
BRIEF: No penalty is leviable on service tax and interest
discharged by the assessee before issuance of Show
cause notice.
OUR COMMENTS : In the above case, the assessee is
evgaged iv the sere of ^Mav Por ‘eruituevt_ . He
filed the service tax returns in ST- 3, however, no service
tax was paid by at the time of filing of the returns. The
same was paid subsequent to filing of returns but before
the issuance of the Show cause notice. The interest
liability was also paid subsequently.
The Revenue imposed a penalty under Section 76 of the
Finance Act, 1994.
The Honble’ CESTAT held that as the entire service tax
and interest has been discharged by the assessee befor e
issuance of Show cause notice, no penalty is leviable on
him as per Sec 80.
Accordingly, the demand of penalty was set aside.
[Decided in favour of assessee]
CST, CHENNAI - I VERSUS M/S. J.M. BAXI & CO.
[CESTAT CHENNAI]
BRIEF: Courtesy services or assistance rendered by the
service provider to the service receiver beyond the
scope of the contractual obligations shall not be
included in the taxable value of services.
OUR COMMENTS : In the above case, the assessee is
registered in the category of steamer agent and pays
service tax on the service charges collected from their
customers (shipping lines) accordingly. It also incurs
additional expenditure towards arranging drinking water,
garbage clearance, transport for crew etc. The shipping
line reimburses these expenses to the assessee and the
same does not form part of the service charges. The
charges for providing steamer agent services are collected separately and service tax is being paid on the
said amount.
The Department contended that sum reimbursed by the
shipping lines against additional expenditure incurred by
the assessee should be included in the value of taxable
services.
The Hon’ble CESTAT
held that the additional expenditure
incurred by the assessee are only courtesy services or
assistance rendered to shipping lines, beyond the scope
of any contractual obligations. The assessee is the ship[s
conduit in the port of call for contracted steamer agency
service. There can arise requests for assistance for the
ship or her offiers, ov issues vot related to ship[s
husbandry or booking etc. of cargo. And, because of
ongoing relationship with the shipping line, the steamer
agents extend such assistance.
Therefore, the value reimbursed thereof is not required
to be added to the value of taxable services and hence
no tax liability will arise on such value.
[Decided in favor of assessee]
CENTRAL TAXES
TAX CONNECT – 77th Issue JAV & ASSOCIATES
(17 Jul 2016 – 23 Jul 2016) Page 8 Chartered Accountants
CENTRAL EXCISE
NOTIFICATIONS/CIRCULARS
MANDATORY PHYSICAL VERIFICATION OF
MANUFACTURING PREMISES IN RESPECT OF
MANUFACTURERS OF READYMADE GARMENTS AND
MADE UP ARTICLES OF TEXTILES WAIVED
OUR COMMENTS :
The CBEC (Dept. of Revenue), Ministry
of Finance, Government of India vide Notification No.
32/2016 – Central Excise (N.T.) dated 11.07.2016 has
notified that every manufacturing factory or premises
engaged in the manufacture or production of
readymade garments and made up articles of textile
bearing a brand name or sold under a brand name and
having a retail sale price (RSP) of Rs 1,000 and above,
shall be exempted from the requirement of mandatory
physical verification at the time of registration.
The said goods fall under Chapters 61, 62 or 63 of the
First Schedule to the Central Excise Tariff Act, 1985 (i.e.
s)
CLARIFICATION ON RECOVERY OF CONFIRME D
DEMANDS DURING THE PENDENCY OF STAY
APPLICATION
OUR COMMENTS:
The CBEC (Dept. of Revenue), Ministry
of Finance, Government of India vide Circular No.
1035 /23/2016- CX dated 04.07.2016 has issued
clarification on recovery of confirmed demands during
the pendency of stay application as follows: When stay application is pending before
Commissioner (Appeals) or CESTAT - For periods prior to 06.08.214, no recovery shall
be made during the pendency of the stay
application.
- For period from 06.08.2014 onwards ,
instructions contained in Circular No.
984/08/2014-CX dated 16.09.2014 shall continue
to be followed
When demand is cofirmed by Hon'ble CESTAT or
Hon'ble High Court & stay is pending before Hon'ble
High Court or Hon'ble Supreme Court: In this case
the recovery proceeding may be initiated only after a
period of sixty days from the date of order of the
Hon'ble Tribunal or Hon'ble High Court, as the case may he, where no stay has been granted by Hon'ble
High Court or Hon'ble Supreme Court against the
order of Hon'ble Tribunal or Hon'ble High Court,
respectively.
The notification is self-explanatory. The readers may
refer the same.
SCOPE OF WORD 'SITE' IN NOTIFICATION NO. 12/2012-
CENTRAL EXCISE
OUR COMMENTS
:
The CBEC (Dept. of Revenue) , Ministry
of Finance, Government of India vide Circular No.
1036 /24/2016- CX dated 06.07.2016 has issued
clarification on the Scope of word 'site' appearing in
Notification No. 12/2012-Central Excise dated
17.03.2012,
As per the aforesaid notification, exemption is applicable
to goods manufactured at the site of construction for use
in construction work at such site.
In the current circular, it has been directed that each
case may be decided taking into consideration the facts
of the individual case and examined in light of the
clarification given in the circular .
Also, Circular No. 456/22/99-CX, dated 18.05.1999 has
been rescinded.
TAX CONNECT – 77th Issue JAV & ASSOCIATES
(17 Jul 2016 – 23 Jul 2016) Page 9 Chartered Accountants
CUSTOMS
NOTIFICATIONS/CIRCULARS
SUGAR EXPORTED UNDER ADVANCE AUTHORIZATIO N
SCHEME EXEMPTED FROM EXPORT DUTY
OUR COMMENTS: The Dept. of Revenue, Ministry of
Finance, Government of India vide Notification No.
41 /2016-Customs dated 06.07.2016 has amended
Notification No. 27/2011-Customs, dated the 1st
March, 2011, and has exempted sugar exported under
Advance Authorization Scheme from export duty subject
to certain conditions.
NOTIFICATION NO.18/2003-CUSTOMS DATED 1ST
MARCH 2003 PROVIDING RATE OF INTEREST IN
RELATION TO WAREHOUSED GOODS RESCINDED
OUR COMMENTS :
The Dept. of Revenue, Ministry of
Finance, Government of India vide Notification
No.98/2016- Customs dated 08.07.2016 has rescinded
Notification number 18/2003-Customs, dated 1st march
2003, providing rate of interest (@15% per annum) in
relation to warehoused goods.
AMENDMENT IN NOTIFICATION NO. 12/2012-
CUSTOMS, DATED 17.03.2012: ADDITIONAL BODY
NOTIFIED FOR AVAILING DUTY FREE IMPORT
ENTITLEMENT
OUR COMMENTS :
The Dept. of Revenue, Ministry of
Finance, Government of India vide Notification No.
42/2016 - Customs has amended Notification
No. 12/2012 - Customs, dated 17.03.20 12 and has
provided that a manufacturer or merchant-exporter,
may also be registered with the Cotton Textiles Export
Promotion Council, in addition to Apparel Export
Promotion Council or the Synthetic and Rayon Textile
Export Promotion Council and seek certification from any
of the aforesaid bodies for the purposes of availing duty
free import entitlement.
HONNAVAR PORT, KARNATAKA NOTIFIED FOR
LOADING /UNLOADING OF GOODS
OUR COMMENTS :
The Dept. of Revenue, Ministry of
Finance, Government of India vide Notification No.
97/2016 – Customs (N.T.) has amended Notification
No.62/1994-Customs (N.T.) dated 21.11.1994 and has
votified ^Hovvar_ iv Karvataka as additioval port for Unloading of imported goods and loading of export
goods or any class of such goods.
SALE OF GOODS AT DUT
Y FREE SHOPS IN INDIAN
CURRENCY
OUR COMMENTS : In order to increase the visibility of
Indian products at the duty free shops (DFS) and for
more transparency and ease,
the Dept. of Revenue,
Ministry of Finance, Government of India vide Circular
No.31/2016-Customs dated 06 .07.2016 has stated that
- the Duty Free Shop operators may be advised of the
revised permitted limits for purchase of goods in Indian
currency at Duty Free shops.
-Use of Indian currency at duty free shops should be
displayed at all DFSs.
-It may be ensured that DFSs display the rate of
exchange as published by the commercial banks or the
rate of exchange notified by the CBEC .
-Websites of DFS/Airports must be kept accurately
updated with regard to the facility and limit in use of
Indian currency for making purchases.
-It may be ensured that DFS operators are familiarized
with the procedures for procuring excisable goods, duty
free, from factories in terms of the procedure prescribed
from time to time.
-The display of prices of goods by DFSs in Indian Rupees
shall be complied with at the earliest.
TAX CONNECT – 77th Issue JAV & ASSOCIATES
(17 Jul 2016 – 23 Jul 2016) Page 10 Chartered Accountants
INCOME TAX
NOTIFICATIONS & CIRCULARS
CLARIFICATION ON THE INCOME DECLARATION
SCHEME, 2016
OUR COMMENTS : The Income Declaration Scheme, 2016
under Chapter IX of the Finance Act, 2016 provides an
opportunity to persons who have not paid full taxes in
the past to come forward and declare the undisclosed
income and pay tax, surcharge and penalty totalling in all
45% of such undisclosed income declared.
In this regard, Board issued Circular No. 17 of 2016
dated 20th May, 2016 which provided clarifications to 14
queries.
Now, the Board has further issued Circular No. 24 of
2016 dated 27th June, 2016, Circular No. 25 of 2016
dated 30th Ju ne, 2016 and Circular No. 27 of 2016 dated
14 th
Juy, 2016 providing clarifications on 32 ( 11 +11+10)
queries. Th e circulars are self-explanatory. The readers may refer
the same.
INFOMATION RECEIVED UNDER THE INCOME
DECLARATION SCHEME, 2016 SHALL NOT BE PRODUCE D
BY ANY PUBLIC SERVANT
OUR COMMENTS : The CBDT, Department of Revenue,
Ministry of Finance, Government of India vide
Notification No. 56/2016 dated 06.07.2016 has ordered
that no public servant shall produce before any person or
authority any such document or record or any
information or computerised data or part thereof as
comes into his possession during the discharge of official
duties iv respet of a lid delaratiov uade uvder Zthe
Income D elaratiov “heue, [.
INCOME-TAX (19TH AMENDMENT), RULES, 2016
OUR COMMENTS The CBDT, Department of Revenue,
Ministry of Finance, Government of India vide
Notification No. 55/2016 dated 28.06.2016 has
prescribes new rules for –
(i) Fair market value of assets in certain cases
(ii) Determination of Income attributable to assets in
India
(iii) Information or documents to be furnished under
section 285A.
This notification is self-explanatory. The readers may
refer the same.
CLARIFICATION ON APPLICABILITY OF SECTION
197A(ID) AND SECTION 10(15)(VIII) OF THE INCOME-TAX
ACT, 1961 TO INTEREST PAID BY IFSC BANKING UNITS
(IBUS)
OUR COMMENTS : The CBDT, Department of Revenue,
Ministry of Finance, Government of India vide Circular
No. 26/2016 dated 04.07.2016 has clarified that in
accordance with the provisions of Section 197A (ID) of
the Income-tax Act, 1961, tax is not required to be de ducted on interest paid by IFSC Banking Units (IBUs) ,
on deposit made on or after 1.4.2005 by a non-resident
or a person who is not ordinarily resident in India, or on
borrowings made on or after 1.4.2005 from such
persons.
The IBUs fulfill the necessary criteria for being
considered Offshore Banking Units as defined in Section
2(u) of the Special Economic Zones Act, 2005.
TAX CONNECT – 77th Issue JAV & ASSOCIATES
(17 Jul 2016 – 23 Jul 2016) Page 11 Chartered Accountants
ANDHRA PRADESH
TAX RATE REDUCTION ON CELL PHONE, CELL PHONE
CHARGERS AND CELL PHONE BATTERIES FROM 14.5%
TO 5%
OUR COMMENTS : The Revenue (Commercial taxes –II)
Department, Government of Assam vide G.O.MS. No.
307 dated 12.07.2016 has reduced the tax rate on cell
phone, cell phone chargers and cell phone batteries from
14.5% to 5% by including the said goods in schedule IV.
ASSAM
IMPOSITION OF TAX ON TEA SOLD BY GTAC BROKER IN
COURSE OF INTER-STATE TRADE OR COMMERCE TO THE
REGISTERED BUYERS UNDER PAN INDIA AUCTION
SYSTEM
OUR COMMENTS : The Finance (Taxation) Department ,
Government of Assam vide Notification
No.FTX.90/2004/Pt-11/70 dated 02.07.2016 has
directed that a Guwahati Tea Auction Centre (GTAC)
broker shall be liable to pay tax @ one paise in the rupee
for tea sales in the course of inter-State trade or
commerce through Pan India Auction System to a
registered buyer of any Tea Auction Centre having
registration under the Central Sales Tax Act, provided
the sale is covered by a declaration, as per Sec 8(4).
This notification is self-explanatory. The readers may
refer the same.
VERIFICATION OF THE TRANSIT PASSES OF ALL THE EN-
ROUTE STATES
OUR COMMENTS : The Office of the Commissioner of
Taxes, Government of Assam vide Circular No. 3/2016 dated 01.07.2016
has instructed that henceforth, all
Check-post Authorities will reconcile consignments
details declared to the Tax Authorities of other States
with the details declared at Check-posts and will keep
the copies of Transit passes and record such Transit Pass
Numbers in the system. In case of discrepancies, they
may take necessary action for realization of tax &
penalty.
BIHAR
COMPULSORY FILING OF RETURNS BY ELECTRONIC
MEANS
OUR COMMENTS : The Commercial Taxes Department,
Government Bihar vide Notification No. 2384 dated
29 .06.2016 has directed that
all registered dealers shall
furnish all the required returns compulsorily by
electronic means on the departmental website with
immediate effect.
UTTARAKHAND
REDUCTION IN CESS ON CARRIAGE OF SPECIFIE D
GOODS BY ROAD
OUR COMMENTS: The Finance Section - 8, Government
of Uttarakhand vide Notification No.
No.431/2016/17(120)XXVII(8)/2014 dated 27.06.2016
has reduces the cess rate from 5% to 2% of the value of
the goods on carriage of the following Goods by Road:
Ready to eat food (Fast Food) sold by Pizza outlets or
Fried Chicken outlets, Pre-Packed Frozen Food, Pre-
Packed Soft Drinks, Fruit Drinks, Flavoured Drinks and
Beverages but not including Pre-Packed Lassi, Buttermilk
and Milk.
Disclaimer: This e-bulletin is for private circulation only. Views expressed herei n are of the editorial team. JAV & Associates or any of its employees do
not accept any liability whatsoever direct or indirect that may arise from the use of the information contained herein. No ma tter contained h erein
may be reproduced without prior consent of JAV & Associates. While this e -bulletin has been prepared on the basis of published/other publicly
available information considered reliable, we do not accept any liabil ity for the accuracy of its contents.
STATE TAXES
TAX CONNECT – 77th Issue JAV & ASSOCIATES
(17 Jul 2016 – 23 Jul 2016) Page 12 Chartered Accountants
IN STANDS - GST: MODEL LAW 2016 & BUSINESS PROCESSES : A TECHNICAL COMMENTARY
ABOUT THE BOOK : GST Bill is going to be passed in July 2016 and GST is expected to go live from
1st April 2017! In this backdrop, as our initiative to get GST READY, we have launched this
publication. This books provides an insight into the following –
1. Procedural provisions under The Model GST Law 2016
2. Glimpse of the Model GST Law 2016
3. Model GST Law 2016
4. GST Valuation (Determination of The Value of Supp ly of Goods and Services) Rules, 2016
5. The Integrated Goods and Services Tax Act, 2016
6. GST Registration Process
7. GST Return Process
8. GST Payment Process
9. GST Refund Process
10. Eco system for GST and GST Suvidha Provider
FOR ONSITE DELIVERY CONTACT TAX CONNECT AT :
+91 33 2262 5203 ; +91 80173 87083; p3.javaa@gmail.com
Authors:
Timir Baran Chatterjee
M.Com, FCS, MBA (International Business)-IIFT, ACMA
Knowledge Partner:
Bengal Chamber of Commerce and Industry ( the first chamber of the Country)
Published by:
BOOK CORPORATION
4, R. N. Mukherjee Road
Kolkata 700001
Phones: (033) 64547999, 22306669, 22205367
Cell : 9830010297 , 9331018333
Order by email:
bookcorporation@gmail.com
TAX CONNECT – 77th Issue JAV & ASSOCIATES
(17 Jul 2016 – 23 Jul 2016) Page 13 Chartered Accountants
BOOK EXCLUSIVELY ON WORKS CONTRACT ( SERVICE TAX AND VAT)
AVAILABLE IN ALL LEADING LEGAL BOOK SHOPS INCLUDING BOOK CORPORATION
Works Contract has been one of the most complex and litigation prone areas in Indirect Taxes.
However with good understanding of all the provisions under Service Tax & VAT which hit Works
Contracts & proper planning, Trade & Industry can not only avo id litigation but can also save around
5% - 10% on indirect taxes which by no means is an ordinary saving in the competitive market. For
Trade & Industry, the problems on the subject have been many. Over the last few years we have
received queries and replied to the issues at various forums.
Vide this publication, we have made an attempt to cover in detail all issues related to Service
Tax: Valuation, Point of Taxation, Place of Taxation, Abatement, Reverse Charge, Input Tax Credit
Mechanism & VAT: Contractual Transfer Price, Modes of Valuation, WIP, STDS as well as GST . We
have also focused on the issues faced by various sectors on account of Works Contract.
This book is divided into Seven Parts covering several broad areas. Each area has the
provisions directly from the Statue in the beginning and detailed discussions on the provisions
in the form of questions and answers thereafter. Since litigations on the subject have been
manifold, we have also covered judicial pronouncements extensively.
Authors:
Timir Baran Chatterjee
M.Com, FCS, MBA (International Business)-IIFT, ACMA
Vivek Jalan
B. Com, FCA, CIDT (ICAI)
Published by:
BOOK CORPORATION
4, R. N. Mukherjee Road
Kolkata 700001
Phones: (033) 64547999, 22306669, 22205367
Cell : 9830010297 , 9331018333
Order by email:
bookcorporation@gmail.com
Website : www.bookcorporation.com
CAclubindia
