Taxation - Corporate Law Reporter

Exchange Rate of Foreign Currency Relating to Imported and Export Goods Notified

In exercise of the powers conferred by section 14 of the Customs Act, 1962 (52 of 1962), and in supersession of the notification of the Central Board of Excise and Customs No.105/2016-CUSTOMS (N.T.), dated 21st July, 2016, except as respects things done or omitted to be done before such supersession, the Central Board of Excise… Read More

Revenue Secretary’s presentation on next steps required on Goods Services Tax Revenue Secy’s presentation on next steps required on Goods and Service Tax (GST)

Revenue Secretary's presentation on next steps required on Goods Services Tax Revenue Secy's presentation on next steps required on Goods and Service Tax (GST) Please click on below link to download Report: Goods and Service Tax (GST) Read More

Rajya Sabha passes GST Bill unanimously

Press Information Bureau Government of India Ministry of Finance 03-August-2016 15:32 IST Frequently Asked Questions (FAQs) on Goods and Services Tax (GST) Following are the answers to the various frequently asked questions relating to GST: Question 1.What is GST? How does it work? Answer: GST is one indirect tax for the whole nation, which… Read More

Amendment Notification 52/2003-Customs dated 31.3.2003

[TO BE PUBLISHED IN PART II, SECTION 3, SUB-SECTION (ii) OF THE GAZETTE OF INDIA (EXTRAORDINARY)] GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF REVENUE (CENTRAL BOARD OF EXCISE AND CUSTOMS) Notification No. 44/2016-Customs New Delhi, the 29thJuly, 2016 S.O. (E).— In exercise of the powers conferred by sub-section (1) of section 25 of the… Read More

Section 10(46) of the Income-tax Act, 1961 – Exemption – StatutoryBody/Authority / Commission

MINISTRY OF FINANCE (Department of Revenue) (Central Board of Direct Taxes) NOTIFICATION New Delhi, the 26th July, 2016 S.O. 2527(E).—In exercise of the powers conferred by clause (46) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies for the purposes of the said clause, Kerala Headload Workers Welfare… Read More

ONE OF THE CONDITIONS FOR AVAILING CENVAT CREDIT ON OUTWARD TRANSPORTATION FROM THE PLACE OF REMOVAL IS THAT SELLER HAS TO BEAR THE RISK OF LOSS OR DAMAGE TO THE GOODS DURING TRANSIT: CESTAT, Kolkata Bench

A. Brief facts of the case: The issue involved in the present case is whether appellant will be eligible to CENVAT Credit on transportation services from the factory to the point of delivery of the customers. The brief fact of this case is that the Respondent (M/s. Bijoy Concrete Works) has taken CENVAT Credit on… Read More

Income Tax Return date extended to 5th Aug, 2016

F.No.153/53/2014-TPL (Pt.I) GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) (CENTRAL BOARD OF DIRECT TAXES) **** North Block, TPL Division New Delhi, the 26th September, 2014 Order under section 119 of the Income-tax Act, 1961 Section 44AB of the Income-tax Act, 1961 („the Act‟) read with rule 6G of the Income-tax Rules, 1962 („the… Read More

One Full Day Masterclass on GST ON 29th July in Gurgaon

Income Tax order by sub-section (2) of section 138 of the Income-tax Act, 1961

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (ii)] GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) ORDER New Delhi, the 6th July, 2016 S.O.2322 (E)- In exercise of the powers conferred by sub-section (2) of section 138 of the Income-tax Act, 1961(43 of 1961), the Central Government… Read More

Amendment in section 25 of the Customs Act, 1962 (52 of 1962)

[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. 42/2016-Customs New Delhi, the 11th July, 2016 G.S.R. (E).- In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962),… Read More

Amendment in sub-section (2) of section 138 of the Income-tax Act, 1961(43 of 1961)

TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (ii)] GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) ORDER New Delhi, the 6th July, 2016 S.O.2322 (E)- In exercise of the powers conferred by sub-section (2) of section 138 of the Income-tax Act, 1961(43 of 1961), the Central Government… Read More

Service tax on taxable services by way of transportation of goods by a vessel from outside India upto customs station in India

[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

CBEC notified that Duty Free Shops (DFSs) at airports shall display prices of goods in Indian currency as well as the exchange rate

CBEC vide Circular dated July 06, 2016 notified that Duty Free Shops (DFSs) at airports shall display prices of goods in Indian currency as well as the exchange rate. CBEC had received representations from travellers that DFSs neither display prices in rupees or India made goods, which depreciates the visibility of domestically manufactured products and… Read More