Month: June 2016

Excise duty branded ready made garments retailer exemption on textile articles having retail sale price of less then Rs. 1000

Excise duty branded ready made garments retailer exemption on textile articles having retail sale price of less then Rs. 1000

June 15, 2016 Excise/Custom
Excise Duty Branded Ready made Garments Retailer Exemption Circular No. 1031/19/2016-CX F. No. 332/5/2016-TRU Government of India Ministry of Finance (Department of Revenue) Tax Research Unit New Delhi, 14th of June, 2016 To, Principal Chief Commissioners/Chief Commissioners/Principal Commissioners of Central Excise (All); Principal Chief Commissioners/Chief Commissioners/Principal Commissioners of …
Custom Single Window Project Simplification of procedure in SWIFT for clearance of consignments related to drugs & cosmetics. CBEC Circular No. 28/2016

Custom Single Window Project Simplification of procedure in SWIFT for clearance of consignments related to drugs & cosmetics. CBEC Circular No. 28/2016

June 15, 2016 Excise/Custom
Circular No. 28/2016-Cus F.No.450/147/2015-Cus-IV Government of India Ministry of Finance Department of Revenue Central Board of Excise and Customs New Delhi, dated the 14″‘ June, 2016 To, All Chief Commissioners of Customs/ Customs (Preventive), All Chief Commissioners of Customs and Central Excise, All Commissioners of Customs I Customs (Preventive), All …

ICAI joins Chartered Accountants Worldwide. ICAI Became 4th professional body to be admitted to associate membership by Chartered Accountants Worldwide.

June 15, 2016 ICAI
PRESS RELEASE THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA JOINS CHARTERED ACCOUNTANTS WORLDWIDE GAINING INTERNATIONAL BRAND RECOGNITION The Institute of Chartered Accountants of India (ICAI) has been awarded Associate membership by Chartered Accountants Worldwide. ICAI is the fourth professional body to be admitted to the organisation since it …
India-Mauritius Double Taxation Avoidance Agreement DTAA and related issues – Working Group to examine consequential issues arising out of amendment

India-Mauritius Double Taxation Avoidance Agreement DTAA and related issues – Working Group to examine consequential issues arising out of amendment

June 15, 2016 Income Tax
India-Mauritius DTAA and related issues Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi, 13th June, 2016. PRESS RELEASE Sub: India-Mauritius Double Taxation Avoidance Agreement and related issues – Working Group to examine consequential issues arising out of amendment – reg …
Draft Model GST Law 2016-Chartered accountant, cost accountant, company secretary provisions for audit, appearance as authorised representative etc.

Draft Model GST Law 2016-Chartered accountant, cost accountant, company secretary provisions for audit, appearance as authorised representative etc.

June 14, 2016 GST
Draft Model GST Law 2016 – chartered accountant, cost accountant, company secretary provisions for audit, appearance as authorised representative etc. Finance Minster has released Draft Model GST Law 2016. The various provisions of the Draft Law concerning CAs, CMAs, and CS are reproduced hereunder. 2. Definitions 2(23) “chartered accountant” means …
Income tax Survey outcome disclosure to complainant directed under RTI as soon as the assessment proceedings are concluded. CIC Order

Income tax Survey outcome disclosure to complainant directed under RTI as soon as the assessment proceedings are concluded. CIC Order

June 14, 2016 Central Information Commission, Income Tax, Judgments
Income tax Survey outcome disclosure to complainant directed under RTI Act  ABCAUS Case Law Details: 001 2016 (06) CIC Date of Decision/Judgment: June 2016  Brief Facts of the Case: The appellant has sought copy of survey report held in January 2014 on his complaint. According to the appellant he …
RBI-Scheme for Sustainable Structuring of Stressed Assets Guidelines for resolution of large borrowal accounts facing severe financial difficulties

RBI-Scheme for Sustainable Structuring of Stressed Assets Guidelines for resolution of large borrowal accounts facing severe financial difficulties

June 14, 2016 RBI
RBI-Scheme for Sustainable Structuring of Stressed Assets RBI/2015-16/422 DBR.No.BP.BC.103/21.04.132/2015-16 June 13, 2016 All Scheduled Commercial Banks (Excluding RRBs), All-India Term-lending and Refinancing Institutions (Exim Bank, NABARD, NHB and SIDBI) Non-Banking Financial Companies Securitisation Companies/ Reconstruction Companies Scheme for Sustainable Structuring of Stressed Assets In order to strengthen the …
Penalty 271B-Statutory auditor not tax auditors delay. Delay in completing statutory audit by Cooperative auditor was sufficient cause not imposing penalty

Penalty 271B-Statutory auditor not tax auditors delay. Delay in completing statutory audit by Cooperative auditor was sufficient cause not imposing penalty

June 13, 2016 Income Tax, ITAT, Judgments
Penalty 271B-Statutory auditor not tax auditors delay. Delay in completing statutory audit by Cooperative auditor was sufficient cause not imposing penalty as the assessee filed the tax audit report immediately after getting /and obtaining the same from  Chartered accountant. This was held by ITAT in a recent judgment. …
Facilitators-Start-ups Guidelines-Patent Designs and Trade Marks for filing, processing applications under Startups Intellectual Property SIPP Scheme

Facilitators-Start-ups Guidelines-Patent Designs and Trade Marks for filing, processing applications under Startups Intellectual Property SIPP Scheme

June 13, 2016 Trade Mark
Facilitators-Start-ups Guidelines-Patent Designs and Trade Marks Government of India Office of The Controller General Patents, Designs & Trade Marks Boudhik Sampada Bhavan S.M. Rood, Antop Hill Mumbai-400037 (India) CG/F/Start-up/Guidelines/2016/79                                       …