CAclubindia Articles

Pay as you earn scheme of advance tax

Posted by CA Kumar Kedia 08 July 2015 55928 Views

In today's Scenario, the collection of advance tax by Government of India amounts to a big share in the revenue of Indian Economy. Advance tax is paid in the year in which income is received. There

Manufacture under Central Excise Act

Posted by CMA Poornima Madhava 08 July 2015 23141 Views

The term manufacture refers to a process involving the conversion of an input into a completely different output.As per section 2(f) of Central Excise Act, 1944 (CEA), manufacture includes any process: Incidental or ancillary to the completion of a m

ST - Reverse charge mechanism

Posted by CA Sujeet Kumar 08 July 2015 25085 Views

In 2012, Govt. of India has changed the overall taxation of Service tax and that time they had presented a different taxation method to levy service tax on services which was negative List Based taxation method. All the services except services provi

Story of independent directors

Posted by Amitav Ganguly 08 July 2015 11629 Views

Background Ideally speaking Independent Directors play crucial roles in the governance of their companies. They bring in valuable, independent and objective judgements, views and opinions to the Board of Directors, {in short, the Board}, raise import

CBEC specifies conditions and safeguards for issuing digitally signed invoices and maintaining e-records

Posted by Bimal Jain 08 July 2015 8292 Views

Dear Professional Colleague,CBEC specifies conditions and safeguards for issuing digitally signed invoices and maintaining e-recordsBackground:The Service Tax Rules, 1994 (�the Service Tax Rules�) were amended vide Notification No. 5/2015

Availment of credit based on computer generated invoice: Pre and Post Budget 2015-16

Posted by Ashish Chaudhary 08 July 2015 22737 Views

Availment of Credit based on computer generated invoice: Pre and Post Budget 2015-16 CA Ashish Chaudhary

Service tax on reimbursable expenditure - Paradox rejuvenated

Posted by CA.Manindar Kakarla 08 July 2015 21641 Views

INTRODUCTION:Incurring of reimbursable expenditure by service provider during the course of providing his services and service receiver subsequently reimbursing them is the inevitable business expediency in certain service sectors. Inclusion of this

A brief note on export promotion capital goods scheme

Posted by CS Aditya Singhania 07 July 2015 8663 Views

Introduction:The Export Promotion Capital Goods (EPCG) scheme was one of the several export-promotion initiatives launched by the Government in the early '90s. The basic purpose of the scheme was to allow exporters to import machinery and equipm

Get acquainted with terminologies used frequently in legal jargon

Posted by Amit Bavishi 07 July 2015 8976 Views

Many of our readers are students, pursing Professional courses, like CA, CS, CMA, etc., aiming to be a great professional in their life. While going through the studies most of us find hard to understand the meaning of some terms, words and/ or expre

Applicability of 'Res Judicata' on taxation matters

Posted by CS Aditya Singhania 07 July 2015 5622 Views

"Res Judicata pro veritate accipitur" is the full Latin maxim which has, over the years, shrunk to mere "Res Judicata”. The doctrine of Res Judicata operates on three basic principles stated here-in-below for ease of reference:In