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Cenvat credit is available on defective goods returned to the factory and used in process of re-manufacture [Commissioner of Central Excise, Meerut – I Vs. Bhushan Steel and Strips Ltd [(2014) 47 taxmann.com 253 (Allahabad)].
Dehi HC today admits a WRIT challenging the CBDT notification in the matter of New TAR
Service tax not payable on goods used in repairing process on which Excise duty and VAT has been paid [High Court of Judicature at Allahabad Commissioner Customs and Central Excise vs. M/S. J.P. Transformers].
A great boost to External Commercial Borrowing as RBI permits overseas lender to lend in Indian Rupees vide RBI/2014-15/207 A.P. (DIR Series) Circular No. 25[3].
Voluntary Contributions received by Trusts/ Charitable Institutions can be taxed at maximum marginal rate as anonymous donations as per Section 115BBC of the Income Tax Act’1961 if record of persons (such as name, address, PAN) from whom voluntary contribution is received in trusts or other charitable institutions (other than religious institutions) is not kept.
Department has introduced a new functionality in the TRACES site wherein the persons who are not required to submit a return of TDS due to non applicability in any particular quarter shall have to submit a declaration for the same on TRACES.
Dehi HC today admits a WRIT challenging the CBDT notification in the matter of New TAR
Service tax not payable on goods used in repairing process on which Excise duty and VAT has been paid [High Court of Judicature at Allahabad Commissioner Customs and Central Excise vs. M/S. J.P. Transformers].
A great boost to External Commercial Borrowing as RBI permits overseas lender to lend in Indian Rupees vide RBI/2014-15/207 A.P. (DIR Series) Circular No. 25[3].
Voluntary Contributions received by Trusts/ Charitable Institutions can be taxed at maximum marginal rate as anonymous donations as per Section 115BBC of the Income Tax Act’1961 if record of persons (such as name, address, PAN) from whom voluntary contribution is received in trusts or other charitable institutions (other than religious institutions) is not kept.
Department has introduced a new functionality in the TRACES site wherein the persons who are not required to submit a return of TDS due to non applicability in any particular quarter shall have to submit a declaration for the same on TRACES.