Penalty for Late Filing of Service tax Return

Service used, rendered & enjoyed in India – Taxable in India Posted: 29 Oct 2012 06:25 PM PDT In the instant case, the service rendered is promotion/marketing of the goods of the client in India by rendering various services such as demonstration, installation, after sales warranty and advertising services for which the appellant received a consideration. These activities are rendered in... Secretary of Society is Public Servant & can be booked for Corruption – HC Posted: 29 Oct 2012 06:12 PM PDT The petitioner who was serving as the Secretary of the Avinashi Co-operative Housing Society Limited, Avinashi was charged with offences punishable under section 7 and 13(2) r/w. 13( 1)(d) of the Prevention of Corruption Act, 1988. Penalty for Late Filing of Service tax Return Posted: 29 Oct 2012 05:54 PM PDT File Service Tax Return in time as Maximum Penalty increased 10 times to Rs. 20000 - Under the existing scheme of law, Rule 7 of the Service tax Rules, 1994 read with its sub-rules deals with the provisions relating to the service tax return. As per Rule 7C; where the return prescribed under rule 7... Income tax E-Filing Website likely to be closed for few days Posted: 29 Oct 2012 05:24 PM PDT The e-Filing Portal is migrating to a revamped new portal in next few days and the existing website services are likely to be closed for few days. Amendments to Capital Gains Accounts Scheme, 2012 Posted: 29 Oct 2012 04:54 PM PDT NOTIFICATION NO 44/2012 In exercise of the powers conferred by sub-section (2) of section 54, sub-section (2) of section 54B sub-section (2) of section 54D sub-section (4) of section 54F sub-section (2) of section 54G and sub-section (2) of section 54GB of the Income-tax Act, 1961 (43 of 1961), the... Issue of notice to general power of attorney holder of assessee is valid Posted: 29 Oct 2012 04:45 PM PDT In the instant case, the GPA holder of the assessee received the notice which is evident from the acknowledgement furnished before us. The assessee was having transactions in India and when the notice was serviced through the process server of the department, the notice is deemed to have been... Clearance of containers and imported goods – regarding Posted: 29 Oct 2012 04:16 PM PDT Instances have come to notice of the Board that clearance of some containers were allowed without filing of Bill of Entry and payment of Customs duty by using forged signatures of Customs officials on manual Out of Charge orders (gate passes) leading to substantial loss of revenue to the Government... FM Statement on Kelkar Committee Report, Fiscal Roadmap & Consolidation Posted: 29 Oct 2012 06:30 AM PDT The Kelkar Committee has cautioned us that a business-as-usual scenario for the current year may lead to the fiscal deficit rising to 6.1 per cent of GDP. This would have grave consequences for the economy is, therefore, totally unacceptable. The Committee has recommended a number of reform... [[ This is a content summary only. Visit my website for full links, other content, and more! ]] Mounting Pendency of Appeals before CsIT(A) & tardy disposal by CsIT(A) – Performance appraisal of CsIT(A) Posted: 29 Oct 2012 06:23 AM PDT Mounting pendency of appeals before CIT(A) and huge amounts disputed therein has been a matter of serious concern for the Department. The C&AG, Standing Committee on Finance, PAC have been adversely commenting upon this issue and calling upon the department to take up the issue on priority to... [[ This is a content summary only. Visit my website for full links, other content, and more! ]] Cenvat Credit cannot be denied if invoice number was handwritten or rubber stamped Posted: 29 Oct 2012 05:09 AM PDT Whether the Cenvat credit can be denied on the ground that the invoice number was handwritten or rubber stamped but not printed on invoice? The appellants are in appeal against the impugned orders wherein input credit taken by them on duty paid invoice was denied only on the basis that the invoice... [[ This is a content summary only. Visit my website for full links, other content, and more! ]] Penalty justified if deduction claimed is not permissible & there was no debatable or contentious issue Posted: 28 Oct 2012 11:36 PM PDT The assessee had wrongly taken the benefit of Section 80IA on the gross total income by reducing the loss of Unit-II from Unit-I and thereby declaring the return at Nil and carried forward the loss of Rs. 23,94,827/-, which was not permissible. [[ This is a content summary only. Visit my website for full links, other content, and more! ]] Period taken to approach Settlement Commission & its rejection is to be excluded for block assessment Posted: 28 Oct 2012 11:26 PM PDT Given the fact that the Settlement Commission order was made on 11.6.2002 and as on the date of insertion to Explanation 1(iv) with effect from 1.6.2002 the applications were pending before the Settlement Commission, we have no hesitation in rejecting the assessees' contention that the Explanation... [[ This is a content summary only. Visit my website for full links, other content, and more! ]] Filing of SLP against the vacation of stay of recovery proceedings granted by the Karnataka High Court in the case of Kingfisher Airlines Posted: 28 Oct 2012 06:24 AM PDT A Joint meeting of CBEC and CBDT was held on 10th Oct., 2012, under the Convenorship of Chairperson, CBDT regarding appropriate steps to be taken for recovery of taxes due from M/s. Kingfisher Airlines Ltd. (KFA). It was informed that the Karnataka High Court vide order dated 26-9-2012 have... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]