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CAclubindia Articles


New Year Resolution: Have A 'Stop Doing' List

  Nimish Goel    19 December 2014 at 10:44

The difference between successful people and very successful people is that very successful people say No to almost everything. (Warren Buffet)The new-year 2015 is approaching and as usual we all would start to write down



Transfer Pricing adjustment on Corporate guarantee

  Rupesh Srivastava    19 December 2014 at 10:44

TP adjustment on Corporate guarantee 1. [TS-208-ITAT-2014(CHNY)-TP] Transfer of shares in subsidiary, by way of 'gift', to an overseas step down subsidiary (in Cayman Island), not taxable as capital gains u/s 45; Such transfer 'without an



Service Tax on Commission Agent dealing in Import-Export

  Swapnil Munot    19 December 2014 at 10:44

Service Tax on Commission Agent Service on Import-Export of Goods By CA Swapnil Munot In order to promote the Exports, Government of India has given big relief to industries in India, by exempting the service tax on



Union Cabinet approves GST Constitution Amendment Bill

  Bimal Jain    19 December 2014 at 10:40

Dear Professional Colleague, Union Cabinet approves GST Constitution Amendment Bill The Union Cabinet, on Wednesday, December 17, 2014 has approved the Constitutional Amendment Bill on Goods and Services Tax (GST), taking a step towards



Reverse charge & partial reverse charge mechanism in ST

  CA. K S Chauhan    19 December 2014 at 10:40

Service Tax is levied under Section 66B of the Finance Act, 1994 as amended up to date. Section 68(1) confers liability to pay service tax on service provider but section 68(2), which has overriding effect over section 68(1), confers liability to pay



Supreme Court: Mobile charger is not a part of cell phone

  Sumit Grover    18 December 2014 at 11:42

Honble Supreme Court has delivered a landmark verdict in the matter of STATE OF PUNJAB & ORS. v. NOKIA INDIA PVT. LTD. & pronounced that the mobile/cell phone charger is an accessory to cell phone and is not a part of the cell phone. B



Intermediary redefined - relevance of NT 42/2012 lost?

  AKASH PHOPHALIA    18 December 2014 at 11:42

Intermediary redefined relevance of Notification 42/2012 lost? With the final Budget 2014 an amendment was proposed to change the definition of intermediary. The new definition introduced the words ..or supply of



CENVAT on Capital Goods - Part I

  AKASH PHOPHALIA    18 December 2014 at 11:42

CENVAT credit is available on inputs, input services and capital goods. Rule 2(a) of Cenvat Credit rules, 2004 defines "Capital Goods"



Extended period is not invocable, when penalties were waived

  Bimal Jain    18 December 2014 at 11:42

Dear Professional Colleague,Extended period is not invocable, when penalties were waived off on the ground of interpretational issue being involvedWe are sharing with you an important judgment of the Honble CESTAT, New Delhi, in the case of Sa



Cenvat credit on Outdoor Catering services used in relation to business activities

  Bimal Jain    17 December 2014 at 10:31

Dear Professional Colleague,Cenvat credit on Outdoor Catering services used in relation to business activities continues to be an eligible Input service even after amendment in the definition of Input services w.e.f April 1, 2011We are




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