Notification No 90/2016-Cus (NT) dt. 24-06-2016
Notification No 90/2016-Cus (NT) dt. 24-06-2016
Monthly Archives: June 2016
Exchange Rate with effect from 25th June 2016
Exchange Rate notfn. with effect from 25th June, 2016 thereby amending Notfn. 87/2016-Cus (NT)
No Krishi Kalyan Cess if Invoice raised before 01.06.2016
Seeks to exempt taxable services from the whole of Krishi Kalyan Cess leviable thereon with respect to which the invoice for the service has been issued on or before 31st May, 2016 subject to the condition that the provision of the service has been completed on or before 31st May, 2016. [TO BE PUBLISHED IN… Read More »
Tax benefit of Leave Encasement is available in case of resignation also
Section 10(10AA) provides the exemption in case of Leave Encasement Whole of payment received by an employee of the Central Government or a State Government upto Rs 3 Lakh received by an employee, other than an employee of the Central Government or a State Government In this case Hon’ble High Court held that whether Leave Encasement… Read More »
Auction of warehoused imported goods not liable for Service Tax
Issue : whether proceed of auction of warehoused imported goods in case of importer abandoned the goods, shall be considered as service charges towards storage or warehouse and is liable for service tax ? Held The auction charges adjusted towards warehousing charges cannot be considered as receipt of any services and hence not liable to demand… Read More »
No Service tax on transportation of goods by vessel from outside India if Invoice issued before 01.06.2016
[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (i)] GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) NOTIFICATION No. 36/2016-Service Tax New Delhi, the 23rd June, 2016 G.S.R. —(E).- In exercise of the powers conferred by sub-section (1) of section 93 of the Finance Act, 1994 (32 of… Read More »
Registration can not be revoked without hearing Assessee
HIGH COURT OF RAJASTHAN Commissioner, Central Excise Commissionerate, Udaipur v. Mangalam Cement Ltd., Kota M. N. BHANDARI AND J.K. RANKA, JJ. DB CENTRAL EXCISE APPEAL NO. 24 OF 2016 MAY 25, 2016 Ajay Shukla for the Appellant. ORDER 1. By this appeal, challenge is made to the order dated 6.11.2015 passed by the Customs,… Read More »
Core Settlement Guarantee Fund set up by ICCL notified u/s 10(23EE)
MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) (CENTRAL BOARD OF DIRECT TAXES) (Income-tax) NOTIFICATION New Delhi, the 23rd June, 2016 S.O. 2183(E).—In exercise of the powers conferred by clause (23EE) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notify the Core Settlement Guarantee Fund, set up by Indian Clearing… Read More »
Core Settlement Guarantee Fund set up by NSCCL notified u/s 10(23EE)
MINISTRY OF FINANCE DEPARTMENT OF REVENUE (CENTRAL BOARD OF DIRECT TAXES) (Income-tax) NOTIFICATION New Delhi, the 23rd June, 2016 S.O. 2184(E).—In exercise of the powers conferred by clause (23EE) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies the Core Settlement Guarantee Fund set up by National Securities… Read More »
Cost of Material with wages can not exceed 40% under MNREGA
MINISTRY OF RURAL DEVELOPMENT NOTIFICATION New Delhi, the 22nd June, 2016 S.O. 2182(E).—In exercise of the powers conferred by sub-section (1) of section 29 of the Mahatma Gandhi National Rural Employment Guarantee Act, 2005 (42 of 2005) (hereinafter referred to as the said Act), the Central Government, being satisfied that it is necessary and expedient… Read More »