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  • Today NICAI Update

    CBDT extends due date for payment of TDS/TCS for Tamil Nadu State from 07.12.2015 to 20.12.2015.

    Central Excise and Service Tax assessees in the State of Tamil Nadu, the date for payment of Central Excise duty and Service Tax for November 2015 is extended to 20.12.2015.

    CBEC has issued a circular to clarify the issues being raised regarding the availability of central excise duty exemption to new units or units undertaking substantial expansion after 01.12.2014 in the North Eastern Region.

    If upon a misconception of legal position, assessee had paid tax which he was not liable to pay, then availing Cenvat credit of same cannot be termed as illegal. [Madras High Court].

    RBI has issued Foreign Exchange Management (Transfer or Issue of Any Foreign Security) (Amendment) Regulations, 2015 which shall come into force from the date of their publication in the Official Gazette.

    RBI through its Master Circular dated 01.12.2015 (available on its websitewww.rbi.org.in) has issued Instructions/Guidelines on Credit Card/Debit Card/Pre-Paid Card.
    Interest, depreciation and profit margin not to be considered for arriving at production cost. [Nirma Ltd. & Others].

    Income Tax Department, New Delhi invites Empanelment of CA Firms to carry out special audit u/s 142(2A) Last Date : 21.12.2015.
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