Daily Archives: March 10, 2016

Delhi VAT new directions for Scrutiny of Returns

By | March 10, 2016

GOVERNMENT OF NATIONAL CAPITAL TERRITORY OF DELHI DEPARTMENT OF TRADE AND TAXES (POLICY BRANCH) VYAPAR BHAWAN, I.P. ESTATE, NEW DELHI-110 002 No.F.3(639)/Policy/VAT/2016/1642-48 CIRCULAR NO. 40 of 2015-16 Dated: 08-03-2016 Sub: – Scrutiny of Returns-regarding As you are aware that a return furnished by a person required under section 26 of Delhi Value Added Tax Act,… Read More »

No need for Customs Baggage Declaration Form for domestic passengers

By | March 10, 2016

Circular No.08/2016-Customs F.No. 520/43/2015-Cus VI Government of India Ministry of Finance Department of Revenue Central Board of Excise & Customs  North Block, New Delhi  Dated the 8th March 2016 To,            All Chief Commissioners of Customs/Customs (Preventive)            All Chief Commissioners of Customs and Central Excise            All Commissioners of Customs/Customs (Preventive)            All Commissioners of… Read More »

Taxability of Ready Mix Concrete , Great relief for Construction Sector

By | March 10, 2016

 Ready Mix Concrete Taxability of Ready Mix Concrete, now days has gathered a great impetus, due to various investigations and enquiries being raised by the excise department to collect excise duty. It is pertinent to note that till now, exemption Notification No. 12/2012-CE is applicable only to concrete mix, and in contrast, RMC {classifiable under… Read More »

INSURANCE PROCEDURE FOR HOLDING INQUIRY BY ADJUDICATING OFFICER

By | March 10, 2016

INSURANCE (PROCEDURE FOR HOLDING INQUIRY BY ADJUDICATING OFFICER) RULES, 2016 NOTIFICATION NO. GSR 178(E) [F.NO.12018/1/2015-INS.II] DATED 17-2-2016 In exercise of the powers conferred by clause (la) of sub-section (2) of section 114 of the Insurance Act, 1938 (4 of 1938), the Central Government hereby makes the following rules, namely:— Short title and commencement 1. (1)… Read More »

Govt exempts Vessels Sharing Agreements from Competition Act

By | March 10, 2016

SECTION 54 OF THE COMPETITION ACT, 2002 NOTIFICATION NO.SO 646(E) [F.NO.5/20/2011-CS], DATED 2-3-2016 In exercise of the powers conferred by clause (a) of section 54 of the Competition Act, 2002 (12 of 2003), the Central Government, in public interest, hereby exempts the Vessels Sharing Agreements of Liner Shipping Industry from the provisions of section 3… Read More »

Monetary limit for filing appeal before ITAT applies to cross objections

By | March 10, 2016

SECTION 268A OF THE INCOME-TAX ACT, 1961 FILING OF APPEAL OR APPLICATION FOR REFERENCE BY INCOME-TAX AUTHORITY  CLARIFICATION ON APPLICABILITY OF CIRCULAR 21 OF 2015 LETTER F.NO.279/MISC./M-142/2007-ITJ (PART), DATED 8-3-2016 The monetary limits for filing appeals before the Income Tax Appellate Tribunals and High Courts were raised to Rs. 10 lakhs and Rs. 20 lakhs… Read More »