CAclubindia Articles

No Service Tax Leviable on the issuance of Draft Invoices

Vishal 10 April 2013 at 12:13

With the Introduction of Point of Taxation Rules (herein referred as POT Rules), 2011, the government has primarily shifted the policy of collection of service tax on the realization of value of taxable services to the point when the service is de

VAT & Service Tax (Civil Works Contract)

Pushpanjali Raina 10 April 2013 at 12:13

DVATRule 3 of DVAT rules deals with Works Contract .Section 2 of DVAT Act explains that a "works contract" includes any agreement for carrying out for cash or for deferred payment or for valuable consideration, the building construction, manufacture,

New Service Tax Returns

Madhukar N Hiregange 09 April 2013 at 11:53

New Service Tax Return- Few Suggestions By CA Madhukar N Hiregange & CA Roopa Nayak A few years back we heard that the combined excise and service tax return would be 1 page. This was not to be as reform implementation have failed in the last

FAQ Guide for Filling ST3 Returns

CA.Manindar Kakarla 09 April 2013 at 11:42

A Guide to e-filling of ST3 Returns By. CA. Kakarla Manindar Introduction: There are two types of e-filing of ST3 returns. One is filling of information in the downloaded excel utility then converting excel utility file into xml format and uploa

How can YOU pedal India's growth?

Priyadarshan Banjan 09 April 2013 at 11:42

Knowledge is power- Abdul Kalam With great power come great responsibility- Ben Parker(Uncle of SpidermanJ, remember that scene in the car?) Right from our CPT days, we have been taught the meaning and importance of Econo

Capital gain exemption by virtue of article 13(4)

Rupesh Srivastava 09 April 2013 at 11:42

Recently ITAT bench held that, Article 13(1) cannot be made applicable to the transfer of shares as assessee has not sold the immovable property or any rights directly attached to the immovable property. Assessee is a company incorporated under th

Understanding Point of Taxation Rules, 2011

Member (Account Deleted) 08 April 2013 at 12:32

Notification New Delhi, the 1st March, 2011 No. 18/2011 Service Tax as amended by Notification No. 25/2011, No. 41/2011, No. 4/2012 and No. 37/2012. G.S.R. (E).- In exercise of the powers conferred under clause (a) and clause (hhh) of subs

Legal Decisions VS departmental circular - Central Excise

Harsha 08 April 2013 at 12:29

Legal Decisions Vs Departmental Circular in Central Excise CA Sriharsha KM In the Indirect Tax Bracket net, there would be plethora of case laws passed by various Tribunals, High Courts and Supreme Court. Further, the CBEC also clarifies the is

Practical aspects of financial closure for a Project (Part-1)

CMA Ramesh Krishnan 08 April 2013 at 12:29

Practical aspects of financial closure for a Project (Part-1) Project Financing Module: In the Finance field Project financing is playing great role. Under various financing options for various businesses and industries, Project finance is diff

Excel Trick for Budget vs. Actual Comparison

CA Rishabh Pugalia (ExcelNext) 06 April 2013 at 12:07

Case Study: Indicate Automatic Status based on whether Actual Production exceeds/equals/trails the Budgeted Production. Sample provided in Picture 1. Application Areas: Budget vs. Actual Comparison, Variance Analysis Techniques req