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May 9, 2013

Changes in Custom & Excise Duty rates wef 08.05.2013

Changes in Custom & Excise Duty rates wef 08.05.2013

Posted: 08 May 2013 08:30 PM PDT

Excise duty on jaggery powder has been reduced from 12 % to 2 % (without CENVAT) and 6 % (with CENVAT). For this purpose, notification No. 1/2011-CE and 2/2011-CE, both dated 1-3-2011 have been amended by notification No.16 /2013-Central Excise, dated 08-05-2013.

Levy Cheque return charges only if customer is at fault

Posted: 08 May 2013 08:30 PM PDT

Cheque return charges shall be levied only in cases where the customer is at fault and is responsible for such returns. The illustrative,but not exhaustive, list of returns, where the customers are not at fault are indicated in the annex.

Service tax Changes on Construction of complex, building, civil structure

Posted: 08 May 2013 08:26 PM PDT

(a) for a residential unit satisfying both the following conditions, namely:– (i) the carpet area of the unit is less than 2000 square feet; and (ii) the amount charged for the unit is less than rupees one crore; (b) for other than the (a) above.

Empanelment with Punjab National Bank for Revenue Audit

Posted: 08 May 2013 06:48 PM PDT

Punjab National Bank invites applications on the undernoted prescribed format from practicing firms of Chartered Accountants of India who are willing to have their Firms empanel ed as Concurrent/Revenue/Treasury Auditor in the Bank.

Amnesty Scheme in Service Tax – A Welcome Move

Posted: 08 May 2013 06:28 PM PDT

While there are over 17 lakh registered Service Tax assessees in India, only about 7 lakh people file their Service Tax returns. By all means, it is a very disappointing number. Thus, only 40 percent of the registered assessees file their returns (and pay tax).

Notification for Changes in Custom Duty rates wef 08.05.2013

Posted: 08 May 2013 12:18 PM PDT

Changes in Custom Duty rates titanium dioxide falling under heading 28.23, polymers (CTH 3901, 3902, 3903 and 3904) including ethylene vinyl acetate (EVA), iron or steel scrap including stainless steel scrap (CTH 7204), aluminum scrap (CTH 7602) been notified wef 05.05.2013.

Notification on Changes in Excise Duty Rates wef 08.05.2013

Posted: 08 May 2013 12:16 PM PDT

Changes in Excise Duty Rates wef 08.05.2013 on jaggery powder, Particle/Fibre Board, flattened bamboo boards and bamboo flooring tiles,   Clay bricks (Tariff Item 69010010) and roofing tiles (Tariff Item 69051000), Steel supplied to the Indian shipyards manufacturing ships and vessels [CETH 8901,...

TP- Comparability of High End Cos with Low End Cos in ITES/ BPO Sector

Posted: 07 May 2013 10:10 PM PDT

Vodafone India Services P. Ltd. Vs. DCIT (ITAT Mumbai), ITA No.7140 /Mum/2012, Date of Pronouncement: 26/4/2013 The dispute is regarding selection of comparables for bench marking the international transaction entered into by the assessee. The assessee had selected 9 comparables as unrelated...

Regarding Exemption of SAD on imports of brass scrap

Posted: 07 May 2013 09:31 PM PDT

NOTIFICATION NO 26/ 2013-Cus., Dated: May 8, 2013 In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendments...

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