HIRING OF MOTOR VEHICLES – SERVICE TAX Renting of any motor vehicle – 40% taxable Abatement of 60%. This is subject to the condition that input, input services and capital goods , used for providing the taxable services has not been taken under the provision of CENVAT Credit Rules. In the case Services of Transport of passenger …
THE SUPREME COURT ORDER: MIXTURE OF TWO OR MORE PRODUCTS THAT DOES NOT CHANGE ESSENTIAL NATURE OF PRODUCT WILL NOT AMOUNT TO MANUFACTURE:- The Supreme Court in the case of M/s Satnam Overseas Ltd. Versus Commissioner of Central Excise, New Delhi, 2015 (318) E.L.T. 538 (S.C.) has held that a process of packing combination of mixture of …
MAURITIUS VS INDIA TRADE ROUTE MARRED? Introduction In a complete disregard to the decision of the Supreme Court of India (“SC”) in Union of India vs. azadi Bachao Andolan, (2003) 263 ITR 706, 263 ITR 706 (SC), which had permitted the Mauritian companies having tax residency certificates to benefit from the India-Mauritius tax treaty, Circular No. 789, …
CHANGES IN SERVICE TAX PROVISIONS, FINANCE BILL, 2015 Finance Bill, 2015 has got President Assent on 14th May, 2015 and has become Finance Act, 2015. As you know, Finance Bill 2015 has proposed lot of changes in Service tax provisions, applicable with effect from various dates. Now with the enactment of Finance Bill, 2015, following changes are applicable: …
BASIC FOR THE ISSUE OF BUSINESS VISAS AND EMPLOYMENT VISAS FOR FOREIGN NATIONALS The Department of Industrial Policy and Promotion of the Ministry of Commerce and Industry notified certain guidelines for the issue of Business Visas (“BVs”) and Employment Visas (“EVs”) to foreign nationals.As Per these guidelines all foreign nationals in India who were on …
TYPES OF LOANS AVAILABLE IN INDIAN MARKET PERSONAL LOAN: We offered our services in providing personal loans for any purpose. Our wide expertise in this area allows us to offer you the helping hand with immediate effect right from your request. Our personal loans are meant for business as well as for personal purpose. Our …
SERVICE TAX AMENDMENTS- BUDGET (NO.2) OF 2014 Amendments relating to service tax proposed in the Finance (No.2) Bill, 2014 as passed by the LokSabha on 25-7-2014, with relevant Notifications issued, are discussed as under. The date on which the amendments are effective are indicated against each clause. The Bill will be enacted when assented to …
Mere book adjustment can’t be deemed as contravention of Sec. 269SS/269T Section 271D, read with sections 271E, 269SS and 269T, of the Income-tax Act, 1961 – Penalty – For failure to comply with section 269SS (Book adjustment) Making book adjustment of funds by assessee firm with sister concern without making payment of cash, could not …
Summary of changes made in Passed Finance Bill, 2015. On April 30, 2015, the Lok Sabha passed the Finance Bill. The Bill which was presented originally in the Lok Sabha on February 28, 2015 is not passed in its original shape. Various changes have been made in the Bill. New amendments are proposed, some proposed …
Companies (Amendment) Bill, 2014 The Union Cabinet today gave its approval for moving of the following Official Amendments in the Companies (Amendment) Bill, 2014 :- Doing away with the requirement for filing a declaration by a company before commencement of business or exercising its borrowing powers and rationalizing the procedure for laying draft notifications granting exemptions …