UPDATES FROM TAX GURU (in this message: 10 new items)

Goods and service Tax (GST), Dual GST -meaning, provisions and applicabilty in brief

Meaning:- The Goods and Services Tax (GST) is a comprehensive value added tax (VAT) on the supply of goods or services. France was the first country to introduce this value added tax system in 1954 devised by a public servant. In India, due to non...

CBDT directed to re-opening of all cases under the search and seizure label and those claimed deduction u/s. 80IB, 80A

The Central Board of Direct Taxes ( CBDT) has directed re-opening of all cases under the search and seizure label, income-escaping assessments and deductions claimed from profits and gains on all eligible businesses.This is now allowed, thanks to...

MVAT Audit Repot in form 704 can be filed only online after 30th September 2009

Commissioner of Sales Tax, Maharashtra, Vikrikar Bhavan, Mazgaon, Mumbai-400010, Dated: 21.08.2009 NOTIFICATION MAHARASHTRA VALUE ADDED TAX ACT, 2002 No. Vat/AMD-1009/IB/Adm.6- In exercise of power conferred by sub rule (1) of Rule 17A of the...

MVAT Dealers against whom business audit started after 1st April 2009 need to file form 801 electronically

COMMISSIONER OF SALES TAX, MAHARASHTRA , Vikrikar Bhavan, Mazgaon, Mumbai-400010, Dated: 21.08.2009 NOTIFICATION MAHARASHTRA VALUE ADDED TAX ACT, 2002 No. Vat/AMD-1009/IB/Adm.6- In exercise of power conferred by sub rule (1) of Rule 17A of the...

ITAT Mumbai Benches not functioning during the period 31.08.09 to 03.09.09

The following Bences will not function during the period 31.08.09 to 03.09.09" A-1, E-1, K, L & SMC"The cases are adjourned to respective dates.please see separate Notice.ANDSpecial Bench on 03.09.09 in the cases of Indusind Bank...

Summary of Foreign Trade Policy 2009-14: It exemption U/s. 10(A0 and 10(B) extended till march 2011

Announcing the foreign trade policy 2009-14 here on Thursday, Mr Anand Sharma, Union Commerce Minister said, the Government wanted to provide a stable policy environment conducive for foreign trade and accordingly, it has been decided to continue...

Mvat Refund Application in form 501 can be filed only online from 01.10.2009

COMMISSIONER OF SALES TAX, MAHARASHTRA Vikrikar Bhavan, Mazgaon, Mumbai-400010, Dated: 21.08.2009 NOTIFICATION MAHARASHTRA VALUE ADDED TAX ACT, 2002 No. Vat/AMD-1009/IB/Adm.6- In exercise of power conferred by sub rule (1) of Rule 17A of the...

Educational institutes cannot be denied the benefit of income tax exemption

Educational institutes having multiple objectives, including imparting education, cannot be denied the benefit of income tax exemption, the Delhi High Court has ruled. Allowing a petition of Jaypee Institute of Information Technology Society...

Due Date for the purpose of payment of Provident Fund Contributions

For determining "due date" for payment of Provident Fund contributions, clause (1) of Paragraph 38 of Employees' Provident Fund Scheme, 1952 is relevant. It reads as follows:- "The employer shall, before paying the member his...

Major Highlights of Foreign Trade Policy 2009-14

The features of the Foreign Trade Policy for 2009-14 which was announced by Commerce Minister, Anand Sharma, on Thursday are: Higher Support for Market and Product Diversification 1. Incentive schemes under Chapter 3 have been expanded by way of...

With Regards,
CA Sandeep Kanoi
Website: http://www.taxguru.in/
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