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Mar 20, 2011

TaxGuru.in : Legal & Tax Updates - 20.03.2011

TaxGuru.in : Legal & Tax Updates

Link to LEGAL & FINANCIAL  UPDATES FROM TAX GURU

Service tax on Opinion Poll Service

Posted: 19 Mar 2011 10:21 AM PDT


"Opinion poll" means any service designed to secure information on public opinion regarding social, economic, political or other issues. "Opinion poll agency" means any person engaged in providing any service in relation to opinion poll. "Taxable...

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Service tax on Travel Agent's (Other Than Air or Rail) Services

Posted: 19 Mar 2011 10:10 AM PDT


"Travel agent" means any person engaged in providing any service connected with booking of passage for travel, but does not include air travel agent and rail travel agent. "Taxable Service" means any service provided or to be provided to any person,...

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Service tax on Transport of Goods by Rail Service

Posted: 19 Mar 2011 09:56 AM PDT


Transport of Goods by Rail Service means any service provided or to be provided to any person, by any other person, in relation to transport of goods by rail, in any manner. Transport of goods in containers by rail- The levy is on transport of goods...

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Service Tax on Survey and Exploration of Mineral Services

Posted: 19 Mar 2011 09:47 AM PDT


"Survey and exploration of mineral" means geological, geophysical or other prospecting, surface or sub-surface surveying or map making service, in relation to location or exploration of deposits of mineral, oil or gas. "Taxable service" means any...

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Service tax on Transport of Goods through Pipeline / Conduit Services

Posted: 19 Mar 2011 09:38 AM PDT


Service tax on Transport of Goods through Pipeline / Conduit Services means any service provided or to be provided to any person, by any other person, in relation to transport of goods other than water, through pipeline or other conduit. (Section 65...

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Service tax on Outdoor Caterer

Posted: 19 Mar 2011 07:55 AM PDT


"Outdoor caterer" means a caterer engaged in providing services in connection with catering at a place other than his own but including a place provided by way of tenancy or otherwise by the person receiving such services. "Taxable service" means...

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Service tax on Storage and Warehousing Services

Posted: 19 Mar 2011 07:44 AM PDT


Storage and Warehousing Services means any service provided or to be provided to any person, by a storage or warehouse keeper in relation to storage and warehousing of goods. "Storage and warehousing" includes storage and warehousing services for...

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Service tax on Steamer Agent's Services

Posted: 19 Mar 2011 07:35 AM PDT


Steamer Agent's Services means any service provided or to be provided to a shipping line, by a steamer agent in relation to a ship's husbandry or dispatch or any administrative work related thereto as well as the booking, advertising or canvassing...

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Modification of SION C-514 under Engineering Product Group – Public Notice No. 41/(RE-2010)2009-2014

Posted: 19 Mar 2011 04:16 AM PDT


Public Notice No. 41 /(RE-2010)2009-2014, Dated: the 18th March, 2011- Export Items: Existing description: Non-Alloy Steel Bars & Rods (including rounds, flats, hexagons, octagons, wire rods, cold twisted deformed bars, thermomechanically...

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Applicability of indirect taxes on packaged software – Circular No. 15 /2011-Customs

Posted: 19 Mar 2011 04:12 AM PDT


Circular No. 15 /2011-Customs - Representations have been received from some industry association on behalf of software dealers about difficulties being expressed in the assessment to customs duty of documents of title for IT software or documents...

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India sitting over Rs. 1 lakh cr of unused external aid – CAG

Posted: 19 Mar 2011 04:00 AM PDT


India is sitting on unused foreign aid of over Rs. 1 lakh crore reflecting inadequate planning by ministries like urban development, water resources and energy, a report by government auditor Comptroller and Auditor-General of India (CAG) has said....

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Delegation of powers and functions to Registrars of Companies on selective provisions

Posted: 19 Mar 2011 03:55 AM PDT


the Central Government hereby delegates to the Registrars of Companies, the powers and functions of that Central Government under the following provisions of the said Act, namely:- Section 21, Section 25, Proviso to Sub-section (1) of...

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Company Law- Delegation of powers and functions to Regional Directors on selective provisions

Posted: 19 Mar 2011 03:52 AM PDT


the Central Government hereby delegates to the Regional Directors at Mumbai, Kolkata, Chennai, Noida and Ahemdabad, the powers and functions of the Central Government under the following provisions of the said Act, namely:- Section 22, ...

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Company Law- Amendments in the notification number, SRO dated 7th January, 1957

Posted: 19 Mar 2011 03:47 AM PDT


In exercise of the powers conferred sub-section (1) of section 620 of the Companies Act, 1956 (1 of 1956), the Central Government hereby makes the following further amendments in the notification of the Government of India erstwhile Ministry of Law...

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Forex reserves decline $755 mn to $301.84 bn

Posted: 19 Mar 2011 03:34 AM PDT


India's foreign exchange reserves declined by $755 million to $301.84 billion on the back of a reduction in foreign currency assets (FCAs) for the week ended March 11. The reserves had surged $1.8 billion the week before to $302.59 billion. FCAs,...

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CBDT chairman confident of issue of All IT refund related to A.Y. 2009-10 and 2010-11 by 28th March 2011

Posted: 19 Mar 2011 03:28 AM PDT


From the desk of Chairman,CBDT S.N. 23 /March 19 ,2011 . Our COMMITMENT to issue all refunds. CONFIDENT THAT THE FIELD DOES NOT WANT CBDT TO FAIL? Progress of issue of refunds is far below expectations. All officers are once again advised to...

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India's tax collection jumps 26 pc till March 12

Posted: 19 Mar 2011 03:22 AM PDT


India's tax revenue for 2010-11 has shown healthy growth till March 12 this year, which jumped around 26 per cent over the corresponding period and the government was expecting to end the year with similar growth in mop up. The total tax collection...

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No tax liability on Hutchison deal – Vodafone

Posted: 19 Mar 2011 03:18 AM PDT


"Vodafone Group's position has not changed with regard to the tax case and we continue to believe that there is no tax to pay on this transaction...Vodafone will continue to defend its position vigorously and will look forward to the matter being...

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Insurers' manoeuvre led to healthcare tax- CBEC

Posted: 19 Mar 2011 03:14 AM PDT


Asserting that the new healthcare levy is not new and will not hurt the common man, the Central Board of Excise and Customs (CBEC) today said the idea was mooted because insurance companies' tactics resulted in lower collection. Finance Minister...

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DTC on track for April, 2012 rollout – Revenue Secy

Posted: 19 Mar 2011 03:12 AM PDT


The government today hoped rollout of Direct Tax Code by April 2012 but things are not on track in case of Goods and Services Tax (GST). "DTC will be rolled out in April 2012 but for GST I think the date seems 'optimistic' under the present...

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Understanding Section 14A Impact with Case Laws

Posted: 19 Mar 2011 02:26 AM PDT


Now a days, every assessee who is doing investment in shares are getting hitted hard by the impact of section 14A. The AO are adding back a huge sum on account of this, whereas the assessee had not earned so much from it. The article will provide...

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