TaxIndiaUpdates.In : GST, Service Tax, Income Tax, VAT, Tax Planning

PAN is mandatory for transactions exceeding Rs.2 lakh

December 16, 2015December 16, 2015 TaxIndiaUpdates In0 comments10843 views

. Rules regarding quoting of PAN for specified transactions amended. The Income-tax Rules require quoting of Permanent Account Number (PAN) where the transactions exceed a specified limit. For the persons who do not hold PAN are required to fill a form and furnish any one of … Continue Reading →

Service Tax

Job Work Services to Garment Exporters is exempt from Service Tax

December 15, 2015 TaxIndiaUpdates In0 comments5883 views

. CBEC vide its Circular No.190/9/2015-Service Tax dated 15-12-2015 clarified that the services received by garments exporters from third party for job work is involving a process amounting to manufacture or production of goods, and thus would fall under negative list and hence would not attract service … Continue Reading →

Central Excise

CBEC Released Minutes of Excise Tariff Conference held on 28 and 29 October 2015 III

December 12, 2015February 3, 2016 TaxIndiaUpdates In0 comments4465 views

Previous B.1 to B.18 and B.19 to B.36 B.37 – Bhopal Zone – Central Excise Rules & Procedures – Doubt regarding Computation of Penalty under Rule 8(3A) of Central Excise Rules, 2002, When Period of Delay Involves Part of a Month: Issue: Rule 8(3A) … Continue Reading →

Central Excise

CBEC Released Minutes of Excise Tariff Conference held on 28 and 29 October 2015 II

December 12, 2015February 3, 2016 TaxIndiaUpdates In0 comments7816 views

Previous B.1 to B.18 Next B.37 to B.53 B.19 – Chennai Zone – Cenvat Credit – Reversal of Credit on Common Input Services: Issue: In terms of Rule 6(3) of Cenvat Credit Rules, 2004 , a manufacturer of goods or the provider of … Continue Reading →

Central Excise

CBEC Released Minutes of Excise Tariff Conference held on 28 and 29 October 2015

December 12, 2015February 3, 2016 TaxIndiaUpdates In0 comments6324 views

. CBEC have released Minutes of Tariff Conference held on 28th and 29th October, 2015 vide instruction F.No.96/85/2015-CX.I dated 07-12-2015. In the Conference several decisions regarding technical issues of assessment and applicability of law were taken. The issues and clarification which CBEC Released Minutes of Excise Tariff Conference are … Continue Reading →

Income Tax

Revised monetory limit of Tax Effect for filing appeals by Department before ITAT HC SC

December 12, 2015December 12, 2015 TaxIndiaUpdates In0 comments7514 views

. To reduce the volume of litigation the CBDT vide its Circular No. 21/2015 F No 279/Misc. 142/2007-ITJ (Pt) dated 10-12-2015 has revised monetory limit of tax effect for filing appeals by Department before ITAT, High Courts and Supreme Court. Now appeals/ SLPs would not be filed by … Continue Reading →

Central Excise

Issues and Clarifications in CBEC Excise Tariff Conference held on 28 and 29 October 2015

December 11, 2015December 12, 2015 TaxIndiaUpdates In0 comments6642 views

. CBEC have released Minutes of Tariff Conference held on 28th and 29th October, 2015 vide instruction F.No.96/85/2015-CX.I dated 07-12-2015. In the Conference several decisions regarding technical issues of assessment and applicability of law were taken. Index of Issues and there clarification Point No. Issue Sponsoring Zone B1 … Continue Reading →

Income Tax

Fraudulent Income Tax Refund E-mail from Fake Income Tax Web Sites

December 7, 2015December 7, 2015 TaxIndiaUpdates In0 comments7464 views

. These days income tax assessee’s face various Fraudulent Income Tax Refund E-mail from Fake Income Tax Web Sites. These emails are appear to have been sent from Income Tax Department, but were actually online traps to dupe unsuspecting victims. The Correct Procedure of … Continue Reading →

Income Tax

CBDT Simplified Procedure in respect Form No.15G 15H

December 2, 2015December 4, 2015 TaxIndiaUpdates In0 comments5252 views

. Directorate of Income-tax (Systems), CBDT, New Delhi vide Notification No. 4 /2015 dt. 01-12-2015 specifies the procedure, formats and standards in respect to new form 15G and 15H as under: 1.The person responsible for paying any income of the nature referred to in sub … Continue Reading →

Service Tax

Authorised Banks for collection Central Excise Duty Service Tax through e-Banking

December 1, 2015December 1, 2015 TaxIndiaUpdates In0 comments6744 views

. Following are the Public/Private Sector Authorised Banks for collection Central Excise Service Tax through e-Banking. Now w.e.f. from 01-1o-2014 it is mandatory to make payment of Excise Duty and Service Tax by electronically. Electronic Accounting System in Excise and Service Tax (EASIEST) is a web … Continue Reading →