All About Finance

Development Support Agency of Gujarat invited RFP from CA firms as Statutory Auditor for the financial year 2016-17

March 11, 2016March 10, 2016 by Taxclick Team

REQUEST FOR PROPOSAL Selection for Statutory Auditor for the financial year 2016-17 Development Support Agency of Gujarat, a society promoted by the Tribal Development Department invites Request for proposal (RFP) from charted accountant (CA) firms empanelled with C&AG as Statutory Auditor for the financial year 2016-17 Detail of RFP: Detailed request for proposal (RFP) comprising … Read more

Limitation for Issuing SCN under Section 73 Enhanced

March 8, 2016 by Ca Pradeep Jain

It was proposed in the Central Excise Tariff Conference that the time limit for issuing show cause notice under normal period of limitation should be increased and it appears that the suggestion has been considered by the government in this Budget. In this budget, the government has amended section 73 of the Finance Act wherein … Read more

Changes in the automation process and other procedure in MVAT/CST from 1st May 2016

March 7, 2016 by Taxclick Team

Office of the Commissioner of Sales Tax, Maharashtra, 8th Floor, Vikrikar Bhavan, Mazgaon,Mumbai Trade Circular To ——————- ——————- NO. Project Director /AD1C/New Automation-2016/B- 264 Mumbai, Dt. 25.02.2016 Trade Circular No. 7T of 2016 Subject: Changes in the automation processes and other changes in procedures Background: The Maharashtra Sales Tax Department is developing a … Read more

START UP INDIA – BENEFITS AND CHALLENGES

March 5, 2016 by CS Mohit Saluja

START UP INDIA. BENEFITS AND CHALLENGES Start Up: The common man understands the word start up that when he starts any business. And the same is exactly true. But this word “START UP” is the word of every mouth since January 16, 2016. Because our Prime Minister Narendra Modi has unveiled a policy for the … Read more

Input Service Distributor –Concept Simplified & Scope Widened

March 4, 2016 by Ca Pradeep Jain

Introduction:- Budget 2016 has been introduced and it has bought some major changes in the Cenvat credit scheme by amending the Cenvat Credit rules, 2004. One such change has been introduced in the rule 7 which relates to the input service distributer. With a view to improve credit flows between different manufacturing / service locations, … Read more

Import Of Goods At Concessional Rate Of Duty – Procedure Simplified With A Demerit

March 4, 2016 by Ca Pradeep Jain

Preface:- The Budget, 2016 brought about a series of changes in various sectors of the industry. In this article we will focus on the various changes made through notification No. 32/2016 – Customs (N.T.). This notification has been issued to supersede the existing Customs (Import of Goods at Concessional Rate of Duty for Manufacture of … Read more

Rule 7b Of CENVAT Credit Rules, 2004 – A New Concept For Multi-Unit Companies

July 28, 2016March 4, 2016 by Ca Pradeep Jain

Introduction:- Budget, 2016 has come up with some new provisions and concepts in the Central Excise Law. One such provision has been introduced in the name of rule 7B of Central Excise Rules, 2004 which has been framed on the same lines of input service distributor. This little article is about this new concept in … Read more

Import of goods by vessel – Budget, 2016 made it expensive!!!

March 4, 2016 by Ca Pradeep Jain

Introduction:- Budget 2016 has been introduced and with it has come many amendments and changes in the law. One such change is with respect to the services by way of transportation of goods by an aircraft or a vessel. The amendments made in it are effective from 1.6.2016 and will impose additional fiscal burden on … Read more

Single Registration facility under Central Excise – condition amended in Budget 2016

March 2, 2016 by Ca Pradeep Jain

Introduction:- The Budget, 2016 was presented before the country on 29 February 2016 by the Finance Minister Shri Arun Jaitley which bought with it some issues as well as various reliefs. In this article, we will discuss the relief granted on registration aspect to the two or more premises of the same factory. Situation prior … Read more

Excise Duty Studded On Jewellery By Budget, 2016

March 2, 2016 by Ca Pradeep Jain

Introduction:- It is the most expensive amendment ever… Yes, now by virtue of amendments made by Budget, 2016; excise duty is being levied on articles of jewellery [excluding silver jewellery, other than studded with diamonds/other precious stones]. Thus, all the jewellery items except pure silver jewellery will now be subject to excise duty w.e.f. 1.3.2016. … Read more