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May 15, 2013

All about Service Tax Voluntary Compliance Encouragement Rules, 2013

All about Service Tax Voluntary Compliance Encouragement Rules, 2013

Posted: 14 May 2013 08:42 PM PDT

The Finance Act, 2013 has provided Amnesty Scheme for Non Filers and Stop Filers. Purpose of this scheme -To encourage voluntary compliance and broaden the taxbase. Section 94 to 104 of Chapter VI of Finance Act, 2013 provides legal backing to this Amnesty Scheme.

Service Tax Return can be filed even for the period prior to registration

Posted: 14 May 2013 08:40 PM PDT

CBEC has accepted the Service Tax returns for the period July-September, 2012, which were rejected by system on the sole ground that these returns were filed for the period prior to the dates of registration of the assessees, as valid returns. These returns have been reprocessed in ACES and the...

Clarifications on Service Tax Voluntary Compliance Encouragement Scheme

Posted: 14 May 2013 07:37 PM PDT

The Service Tax Voluntary Compliance Encouragement Scheme (VCES) has come into effect upon enactment of the Finance Bill 2013 on the 10th May, 2013. The Service Tax Voluntary Compliance Encouragement Rules, 2013 has been issued to bring into effect the Scheme. Some references have been received...

Government Notifies Service Tax Voluntary Compliance Encouragement Scheme,2013

Posted: 14 May 2013 07:31 PM PDT

NOTIFICATION NO 10/2013-ST, Dated: May 13, 2013 In  exercise  of the  powers conferred  by  sub-sections  (1)  and (2) of section 114 of the Finance Act, 2013 (17 of 2013), the Central Government hereby makes the following rules regarding the form and manner of declaration, form and manner of...

No Penalty on Gift of Resurgent India Bonds from Non Relative NRI

Posted: 14 May 2013 06:47 PM PDT

Gift was received by the assessee in the form of India resurgent bonds amounting to USD 10,000. Bonds were duly certified by Certificate No. 0066493 and Register Folio No. of transferor RIB-417865 issued by SBI. The donor has filed confirmation of gift. The assessee has also filed copy of letter...

The Primary Objective of The Corporation: Value Maximization

Posted: 14 May 2013 06:11 PM PDT

The primary objective of the Finance manager is always to increase the wealth of the shareholders in long term. And this objective is also compared with the profit maximization objective of the corporation and almost all the authors believe that Wealth maximization is superior objective than Profit...

Income Tax Ombudsman – All you want to know

Posted: 13 May 2013 09:50 PM PDT

As a taxpayer, you may have some very legitimate grievances relating to your income-tax matters of settlement of your claims.  You may, for example, feel that the Income Tax Department owes you a certain refund of tax but it is not doing enough to hear your grievance of complaint nor taking action...

ICAI revises fees for all GMCS Course(s)

Posted: 13 May 2013 09:42 PM PDT

The Council at its 324th Meeting held in April, 2013 decided that with effect from 1st July, 2013 fee for the General Management and Communication Skills (GMCS) Course i.e. existing GMCS Course, GMCS – I and GMCS – II courses shall be Rs. 5,500/- per participants for each course.

Customs- Regarding Classification of machines commercially referred to as Tablet Computers

Posted: 13 May 2013 09:38 PM PDT

Doubts have been raised regarding classification of products commercially referred to as Tablet Computers under the Customs Tariff which is harmonised with the Harmonized Commodity Description and Coding System, commonly known as HS Nomenclature. The two major competing headings are 8517 and 8471.

SEBI clarification on ESOS and ESPS Scheme

Posted: 13 May 2013 09:10 PM PDT

SEBI vide Circular No. CFD/DIL/3/2013 dated January 17, 2013 made amendments to Equity Listing Agreement and SEBI (Employee Stock Option Schemes and Employee Stock Purchase Schemes) Guidelines, 1999 (SEBI (ESOS and ESPS) Guidelines, 1999).

Proposal to align gold import regulations with other import regulations

Posted: 13 May 2013 09:00 PM PDT

MPORT OF GOLD BY NOMINATED BANKS/AGENCIES A.P. (DIR SERIES 2012-13) CIRCULAR NO. 103, DATED 13-5-2013 Attention of Authorised Persons is invited to paragraph 97 of the Monetary Policy Statement 2013-14 dated May 3, 2013, regarding import of gold. In terms of AD (G.P. Series) circular No.7 dated...

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