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July 7, 2021 / Indirect Tax

SUPPLY OF MEDICINES INTEGRAL TO MEDICAL SERVICES – HENCE COULD NOT BE SEVERED TO INFER A SALE

SUPPLY OF MEDICINES INTEGRAL TO MEDICAL SERVICES – HENCE COULD NOT BE SEVERED TO INFER A SALE Recently in the case of Fortis Health Care Ltd. vs. State of Punjab {(2015) (Punjab and Haryana)} it has been decided by the P&H High Court that since the supply of drugs, medicines, surgical items, implants and stents was integral to …

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July 7, 2021 / Indirect Tax

HOW TO DEAL WITH NEW SERVICE TAX RATE OF 14% WHICH IS EFFECTIVE FROM JUNE 1, 2015

HOW TO DEAL WITH NEW SERVICE TAX RATE OF 14% WHICH IS EFFECTIVE FROM JUNE 1, 2015. New service tax rate of 14% is effective from June 1, 2015. This article is intended to provide you with insights of how to deal with change in rate and which scenarios old rate shall prevail and when a new …

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October 17, 2020 / Indirect Tax

SUMMARY OF EFFECTIVE RATE OF SERVICE TAX IN CASE OF VALUATION AND ABATEMENT

SUMMARY OF EFFECTIVE RATE OF SERVICE TAX IN CASE OF VALUATION AND ABATEMENT                                               The advancement of rate of Service Tax from 12.36% to 14% shall have a consequent effect on tax rates of …

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January 1, 2025 / INCOME TAX

Summary About Income-Tax Filling & Assessments

Summary about Income-Tax Assessments Procedures, Appeals and Revision Filing Of Returns:- Steps Compute income for each Source of Income  Aggregate the income from various sources under the respective Heads of Income  Arrive at the Gross Total Income Claim the Deductions available  Arrive at the Total Income. Steps  Compute  Reduce  Add the Tax payable on the Total Income the Rebates, if any from the tax payable Surcharge as …

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July 7, 2021 / Company Law Compliances

STATUTORY DATES FOR THE MONTH OF JUNE’ 2015:-

Statutory Dates for the Month of June’ 2015:- 05-06-2015 Service Tax – Service Tax Payment by Companies for May Central Excise – Payment of Excise Duty for all Assesses (other than SSI Units) for May.( if Excise Duty / Service Tax paid electronically through internet banking, the date is to be reckoned as 6th instead …

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July 7, 2021 / Foreign Exchange Management Act

SHARES HELD BY RELATIVES CAN’T BE CONSIDERED TO DETERMINE SUBSTANTIAL INTEREST OF SHAREHOLDER UNDER SEC. 2(22)(E):-

SHARES HELD BY RELATIVES CAN’T BE CONSIDERED TO DETERMINE SUBSTANTIAL INTEREST OF SHAREHOLDER UNDER SEC. 2(22)(E) Section 2(22), read with section 2(32), of the Income-tax Act, 1961 – Deemed dividend -Loans or advances to shareholder/substantial interest In order to determine substantial interest of a shareholder for invoking provisions of section 2(22)(e), it is ownership of …

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July 7, 2021 / Company Law Compliances

SERVICE TAX RATE CHANGES WITH EFFECT FROM 1st JUNE, 2015

SERVICE TAX RATE CHANGES WITH EFFECT FROM 1st JUNE, 2015 The most awaited advancement in the Service Tax regime viz, change in rate of Service Tax is being brought to effect from today i.e. 1stJune, 2015. The change was initiated by the Central Government vide Notification No. 14/2015-ST dated 19th May, 2015. Following shall be the …

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October 17, 2020 / Foreign Exchange Management Act

INSTRUCTIONS TO SUBORDINATE AUTHORITIES – CONDO NATION OF DELAY IN FILING REFUND CLAIM AND CLAIM OF CARRY FORWARD LOSSES UNDER SECTION 119(2)(B)

INSTRUCTIONS TO SUBORDINATE AUTHORITIES – CONDO NATION OF DELAY IN FILING REFUND CLAIM AND CLAIM OF CARRY FORWARD LOSSES UNDER SECTION 119(2)(B) In supersession of all earlier Instructions/Circulars/Guidelines issued by the Central Board of Direct Taxes (the Board) from time to time to deal with the applications for condonation of delay in filing returns claiming …

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July 7, 2021 / Indirect Tax

TRANSACTION OF REPLACEMENT OF DEFECTIVE SPARE PARTS DURING WARRANTY- AMOUNTS TO SALE OR NOT?TRANSACTION OF REPLACEMENT OF DEFECTIVE SPARE PARTS DURING WARRANTY- AMOUNTS TO SALE OR NOT?

TRANSACTION OF REPLACEMENT OF DEFECTIVE SPARE PARTS DURING WARRANTY- AMOUNTS TO SALE OR NOT? In the case of Kataria Automobiles (P.) Ltd. Vs. State of Gujarat, {(2015) (Gujarat)} on 20th March 2015, the High Court of Gujarat held that the transaction of replacement of spare parts amounts to sale and levy of tax on said sale is justified. …

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October 17, 2020 / Indirect Tax

RAILWAYS UPDATE

Railways Update

Amendment in Tatkal Scheme

Timings for Booking Staggered for AC and non AC Classes

At present, the booking under Tatkal scheme opens at 10.00 hrs on the previous day of journey from train originating station. It has been decided that w.e.f. 15.06.2015, timings for booking of Tatkal tickets will be staggered for AC & non-AC classes to 1000 hours onwards and 1100 hours onwards respectively. Hence, now the reservation under Tatkal scheme will open at 1000 hours on the previous day of journey from train originating station for AC classes whereas that for non-AC classes will start at 1100 hours on the previous day of journey from train originating station.

Moreover, all types of ticketing agents (YTSK, RTSAs, IRCTC agents, etc.) will now be debarred from booking tickets during the first thirty minutes of opening of booking i.e. from 08:00 to 08:30 hours for general bookings, and from 10:00 to 10:30 hours & 11:00 to 11:30 hours for Tatkal booking in AC & non-AC classes respectively.

Railways Decide to Run Suvidha Trains:-

These Trains will Run at Dynamic Fare System, Ministry of Railways has decided to run Suvidha trains on the following terms & conditions:

  • Tickets shall be issued only for confirmed and RAC passengers accommodation. There shall be no provision for waiting list in the train.
  • The maximum Advance Reservation period will be 30 days while the minimum Advance Reservation period will be of 10 days. Zonal Railways may decide the exact ARP for each train within this limit.
  • No concession shall be applicable on these trains. Full adult fare shall be changed for all passengers irrespective of their age. Also free passes/complimentary passes/warrant/concessional voucher etc. shall not be permitted in these trains.
  • Apart from e-ticketing the sale of tickets shall also be allowed through PRS counters.
  • Modification/duplicate ticket/cluster bookings/BPT will not be allowed.
  • Only General quota bookings will be applicable.
  • Upgradation option shall not be applicable in these trains.
  • Passenger should produce one of the prescribed Identity Card during journey for verification purpose for both e-ticket & PRS ticket.
  • On the basis of demand pattern, Suvidha train services may run during peak seasons like winter rush, summer rush, Dussehara rush, Holi rush and on other occasions as jointly decided by COMs and CCMs of the zonal Railways.
  • There shall be no First AC/Fist Class/Executive class/general class/2nd sitting coach in the train composition of Suvidha Trains.

Three types of Suvidha Trains services are proposed:-

(1) Fully air-conditioned services with or without stoppages: Base Price: (Rajdhani base fare+Tatkal charges).

(2) Mixed services having no enroute commercial stoppages on mixed Duronto pattern: Base price: (Mixed Duronto base fare+ Tatkal charges).

(3) For mixed services having some stoppages enroute and running as Mail/Express: Base price: (Mail/Express base fare+Tatkal charges).

In addition to above, if demand arises zonal Railways may also plan for fully air-conditioned/Double decker type Suvidha Trains with fare of the respective categories of trains as per above.

Suvidha trains will run on dynamic fare system. The Permissible booking pattern and charges thereon of Suvidha Trains will be as under:-

For both AC classes and non AC- classes:-

Charges*       (Base fare +Tatkal) )            % of seat/ berth

1.5 times of (base fare+tatkal)                        20%

2 times of (base fare+tatkal)                           20%

2.5 times of (base fare+tatkal)                        20%

3 times of (base fare+tatkal                            20%

(*Other charges like reservation charge, catering charge, S/F, service tax, etc. will be taken in full wherever applicable)

Vacant berths left at the time of charting will be offered for current booking counters. Tickets at current counters shall be sold at the last price sold for that class and other supplementary charges like reservation fee, super fast charges, catering charges, service tax applicable shall be levied in full.

The information would also be displayed to the passenger during the booking in case the fare of lower class becomes higher than the higher class to exercise option to travel by the higher class.

There shall be no downward movement in the fare.

  • 50% refund of fare subject to minimum flat cancellation charge of rupees one hundred for air conditioned-II tier/first class, rupees ninety for air conditioned III-tier/3 economy/air conditioned chair car and rupees sixty for sleeper class will be granted for confirmed/RAC tickets upto 6 hours before the scheduled departure of the train. No refund of fare after that will be granted. Such refund will be granted by filing TDR in case of e-tickets and in case of PRS counter-ticket across the counter.
  • The Suvidha train services shall be over and above the normal train services and special trains on Tatkal fares.
  • The above guidelines will be implemented w.e.f.07.2015.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances; Hope the information will assist you in your Professional endeavors. For query or help, contact: info@caindelhiindia.com or call at 011-233 433 33 (more…)

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