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Wednesday, January 07, 2009
 
Exempts Certain Taxable Services provided to a Goods Transport Agency - See Notification No. 01/2009 Dated: January 5, 2009 - Service Tax Amends Notification No. 89/2005 - Exemption to goods from Customs duty and additional duty when imported against DutyEntitlementPass Book. - See Notification No. 03/2009 Dated: January 2, 2009 - Customs Extension of time limit for filing of Form DVAT 51, Form C, EI, EII, F, I, J and H - See F.3(33)/P-II/VAT/Misc./2006/676-685 Dated: December 19, 2008 - VAT - Delhi DEPB Rates as applicable before 5-11-2008 restored - See 124(RE-2008) /2004-2009 Dated: March 1, 2009 - DGFT Amendment in the Handbook of Procedures v1.(RE 2008) - DEPB rates shall be effective upto 31-12-2009 - See 125 (RE-2008) /2004-2009 Dated: January 3, 2009 - DGFT Procedure relating to sanction and pre-audit of refund claims- regarding. - See 22/2008 Dated: December 19, 2008 - Customs Deferred Payment Protocols dated April 30, 1981 and December 23, 1985 between Government of India and erstwhile USSR - See 45/2009 Dated: January 2, 2009 - FEMA To examine or cause to be examined every application or e-Forms or documents submitted on www.mca.gov.in - Central Government makes the regulations to amend the Companies Regulations, 1956. - See Notification No. G.S.R. 888(E) Dated: December 24, 2008 - Misc Deferred Payment Protocols dated April 30, 1981 and December 23, 1985 between Government of India and erstwhile USSR - See 45/2009 Dated: January 2, 2009 - FEMA Tariff value of edible oils, brass scrap and Poppy seeds notified - See Notification No. 141/2008 Dated: December 31, 2008 - Customs Amends Notification no. 4/2005 Customs dated 24-1-2005 - Anti-dumping duty on Flexible Slabstock Polyol - See Notification No. 138/ 2008 Dated: December 31, 2008 - Customs Amends Cenvat Credit Rules - Goods cleared to a unit in a special economic zone or to a developer of a special economic zone for their authorized operations are eligible for Cenvat Credit - See Notification No. 50/2008 Dated: December 31, 2008 - Central Excise Amends Notification No. 32/2005 - Cement and steel used in construction of houses in tsunami affected areas of Tamil Nadu, Andhra Pradesh, Kerala, Pondicherry and Andaman and Nicobar Islands — Exemption - See Notification No. 60/2008 Dated: December 24, 2008 - Central Excise PRE DEPOSIT BEFORE FILING APPEAL FOR SERVICE TAX MATTERS - See in Article Section Import policy for new vehicles, as laid down under Chapter 87 shall be amended - See Notification No. 74 (RE-2008)/2004-09 Dated: December 30, 2008 - DGFT Rate of Exchange for Import and Export of Goods - See Notification No. 140/2008 Dated: December 29, 2008 - Customs Amends Appendix 4C - (Certificate of Origin Non-Preferential) - See 122 (RE-2008) /2004-09 Dated: December 30, 2008 - DGFT Amends Appendix-2 of Handbook of Procedures (Vol. I), under the list of Export Promotion Councils/Commodity Board - See 123 (RE-2008) 2004-09 Dated: December 30, 2008 - DGFT Clarification on classification of combined refrigerator freezer with separate external doors for the purpose of extending benefit of Notification No.85/2004-Customs dated 31.8.2004 - See 23/2008 Dated: December 29, 2008 - Customs CENVAT CREDIT NOT TO BE REDUCED MERELY FOR SUBSEQUENT DISCOUNTS - See in Article Section INVESTIGATION OF LIMITED LIABILITY PARTNERSHIP - See in Article Section Income-tax (Eleventh Amendment) Rules, 2008 - Change in Authority - See Notification No. 111/2008 Dated: December 23, 2008 - Income Tax Appoints Joint Commissioner / Additional Commissioner Competent Authority to perform certain functions (Territorial Jurisdiction) - See Notification No. 110/2008 Dated: December 23, 2008 - Income Tax Notified Corporation for the purpose of Section 36(1)(xii) - See Notification No. 108/2008 Dated: December 19, 2008 - Income Tax Anti Dumping Duty on Caustic soda (Caustic soda lye and caustic soda solid/flakes) of Korea ROK / China imposed - See Notification No. 137/2008 Dated: December 26, 2008 - Customs DGFT fixes deadline as 20-06-2009 for SFIS for the current financial year - See 119 (RE-2008)/2004-2009 Dated: December 24, 2008 - DGFT EXPLANATION REGARDING GROSS PROFIT MARGINS - See in Article Section Refund of wrongly collected tax should be made voluntarily and honestly by the Government-excess and wrong collection should be treated as money held in trust - a point of view. - See in Article Section Exempts petrol from duty of excise removed for use in ethanol blended petrol to unrelated parties. - See Notification No. 61/2008 Dated: December 24, 2008 - Central Excise Exempts 10 ethanol blended petrol if appropriate duty of excise has been paid on petrol and ethanol - See Notification No. 62/2008 Dated: December 24, 2008 - Central Excise Amends notification no. 28/2002 to exempt ethanol blended petrol - See Notification No. 63/2008 Dated: December 24, 2008 - Central Excise Amends Notification No. 4/2006 to fix effective rate of duty on Cement Clinker @300/t and to exempt ethanol blended petrol - See Notification No. 64/2008 Dated: December 24, 2008 - Central Excise Definition of 'Charitable purpose' under section 2(15) of the Income-tax Act, 1961 - reg. - See 11/2008 Dated: December 19, 2008 - Income Tax Notification No. 63 (RE-2008) dated 21.11.2008 and No. 64 (RE- 2008) dated 24.11.2008 - transitional arrangements thereunder. - See 49(RE-2008)/2004-2009 Dated: December 22, 2008 - Import of Trucks/Tippers/Dumpers etc. under EPCG Scheme. - See 48 / (RE-2008/2004-09) Dated: December 19, 2008 - DGFT SMALL SCALE EXEMPTION UNDER SERVICE TAX PROVISIONS - See in Article Section Corrigendum to notification no. 107/2008 dated 11-12-2008 - See Notification No. S.O. 2949(E) Dated: December 22, 2008 - Income Tax Half Yearly DVAT return to be filed within 42 days - Instructions for Filing of Online Returns by Registered Dealers - DVAT-16 and Form I - See Notification No. No. F.7(7)/Policy-III/VAT/2005-06/662 Dated: December 17, 2008 - VAT - Delhi Amendments in Appendix 37A - VKGUY w.e.f. 1-4-2008 - See 115 (RE-2008)/2004-2009 Dated: December 15, 2008 - DGFT Export of Milk and value added Milk Products shall be entitled to VKGUY scheme benefits - See 116 (RE-2008)/2004-2009 Dated: December 15, 2008 - 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Records 1 to 15 of 913
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Issue ID = 998
Submitted on : - 03-01-2009
Submitted by: - A RAVINDRA
X is a selling agent in Karnataka for Y who is a manufacturer in Karnataka. X procures an order from Z in Tamilnadu and informs Y to raise the invoice in the name of X and mention consignee as Z for the order so procured. Y prepares an invoice on X and consignee as Z and send the material directly to Z in tamilnadu attaching one more invoice raised by X on Z with 2% CST against form C. Y has not charged sales tax in his invoice to X (consignee as Z) The said transaction is done taking the benefit of section 8 & 6 of CST Act. I would like to know whether the said transaction is in order and as per section 8 of CST Act. Will there be any liability of local tax to Y in the said transaction. Please clarify
   
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Issue ID = 997
Submitted on : - 03-01-2009
Submitted by: - DEV KUMAR KOTHARI
For brain storming: Does the A.O. has jurisdiction and power to treat a 'capital asset' as stock-in-trade? In my view -no. Every property is a capital asset, except some excluded items. Whether,an item is stock-in-trade or not will depend on the basis of items for which any person is known as trader or dealer, os long he continue as is dealer in such item. Pool of cars used to run on hire are capital asset, the same person may trade in cars, cars kept for selling are only his stock-in-trade. In cases where a person is not a trader of any item say shares , units, his holding will be capital assets, unless he has treated or converted such assets into stock-in-trade.
   
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Issue ID = 996
Submitted on : - 03-01-2009
Submitted by: - DEV KUMAR KOTHARI
Developmnet about some of new provisions concerned with even small assessees like disallowance u/s 14A, treatment of STCG/ LTCG as business income or business income as STCG/ LTCG msy be posted for exchange of views and information.
   
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Issue ID = 995
Submitted on : - 03-01-2009
Submitted by: - DEV KUMAR KOTHARI
Service tax on commercial rent- the matter is pending before SC. Madras and M\Bombay HC had granted stay. Further developments which come to knowledge of readers may be posted for updates of members and dissemination of information.
   
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Issue ID = 994
Submitted on : - 02-01-2009
Submitted by: - HARSHA JOSHI
WHILE MAKING PAYMENT OF WHARFRAGE CHARGES TO MAHARASHTRA MERITIME BOARD, TDS U/S 194I @22.66% WAS DEDUCTED BY US. MMB IS NOT ACCEPTING IT & WITHOUT OBTAINING CERTIFICATE U/S 197(1)FROM AO ASKING US TO DEDUCT TDS U/S 194C @2.266%. MMB IS REGISTERED U/S12AA OF THE ACT. WHILE MAKING SIMILAR PAYMENT TO GUJARAT MARITIME BOARD, OUR ASSESSING OFFICER HAD RAISED AN ISSUE & INSTRUCTED US TO APPLY PROVISIONS OF S.194I. & MADE TO DEPOSIT DIFFERNCIAL AMOUNT OF TDS ALONGWITH INTEREST THEREON.AFTER SHOWING ALL THESE CORRESPONDENCE TO MMB, THEY STILL NOT ACCEPTING THE FACTUAL POSITION.WILL APPRECIATE YOUR ADVICE.
   
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Issue ID = 993
Submitted on : - 02-01-2009
Submitted by: - d.v. gupta
Case of my client selected for audit under DVAT act. The VATO insist on GR of goods sent outside the state. while we have form 31 of the party and payment received by cheque from the party. the party by own vehicle taken the goods outsid state. the VATO is going to reject the central sale. whether he is correct . please discuss.
   
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Issue ID = 992
Submitted on : - 01-01-2009
Submitted by: - A RAVINDRA
The dealer has provided the option of credit payment to its customers.Dealer get the proceeds from bank after the deduction of commission at agreed rate on credit card swipings. I would like to know whether TDS provision u/s 194H is applicable.
   
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Issue ID = 991
Submitted on : - 30-12-2008
Submitted by: - HARSHA JOSHI
When to treat the person as Senior Citizen? On Completion of the age of 65 years or on attaining the age of 65 years i.e. on completion of 64 years during the previous year so as to pay tax on taxable income exceeding Rs.225,000/-. kindly clarify the issue.
   
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Issue ID = 990
Submitted on : - 29-12-2008
Submitted by: - d.v. gupta
please tell me the last date of filing audited balance sheet with DVAT department .
   
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Issue ID = 989
Submitted on : - 28-12-2008
Submitted by: - DEV KUMAR KOTHARI
For brain storming - Relative in context of S. 56: If A is related to B then B should be condsidered as related to A. In other words a relationship is based on reciprocity. However, in S. 56 such reciprocity is not clear regarding some relations. For example there is reciprocity between spouse, brother and sister, brother or sister of the spouse of the indiidual, lineal ascendents or discendent of individual or spouse. However, brother or sister of either of parent is related that is Chacha, Bhua, mama and masi are related but bhatija / bhatiji/ bhanja / bhanji may not be considered as relative becasue they are not lineal descendent. Reciprocity should be presumed. For example when Chacha ( brother of father) is realtive of Bhatija then it cannot be that Bhaitija is not related to Chacha. A clarity is desirable.
   
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Issue ID = 988
Submitted on : - 28-12-2008
Submitted by: - DEV KUMAR KOTHARI
Whether a professional person like CA,CS, CWA, doctor, engineer, advocate etc. or a director, company executive can be considered as a 'share trader' instead of 'investor', merely becasue his volume of transactions in sahres, units is high and some time borrowed money is also used. Whether it will be proper for the A.O. to treat transactions in shares and units resulting in business profit and not STCG? In my view such view will be patently wrong because such persons are not known as trader of shares or units by the persons who know to him in commercial world, furthermore, nvestmetn is a commercial adventure and not a trading venture. Shares are capital assets of commercial venture and not stock-in-trade of adventure in nature of trade.
   
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Issue ID = 987
Submitted on : - 26-12-2008
Submitted by: - ramesh bohra
we are exporter and we have one agent who is booking order for us on commiission basis he is in dubai now we want to pay him commission .kindly inform us service tax and tds is liable on above commission and how we can take rebate
   
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Issue ID = 986
Submitted on : - 26-12-2008
Submitted by: - vikas girdhar
Whether Notice pay salary Recovered by employer shall be allowed as deduction for employee, while computing his income under the head salary?
   
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Issue ID = 985
Submitted on : - 24-12-2008
Submitted by: - sushil gupta
Whether TDS Provision is applicable on any fees paid by any company for attending any conference by its employees where conference is not restricted to company employees
   
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Issue ID = 984
Submitted on : - 24-12-2008
Submitted by: - Chalapathy Rao Marthy
Dear Sir, With respect to Small Service Provider Exemption, my client is paying excise duty on the goods manufactured by them. Recently they have let a part of thier unutilised Land to another entity. Are they liable to Service Tax. The revenue from renting does not cross Rs 9 Lakhs. They also pay ST on GTA.
   
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