CAclubindia Articles

Utilization of CESS: Whether industry has been fooled?

Posted by Manoj Agarwal 04 May 2015 9847 Views

In a significant move towards Goods & Service Tax (GST), the Central Government had issued Notification No. 14/2015-CE and 15/2015-CE dated 01-03-2015 (as part of the Union Budget – 2015 Notifications) whereby it exempted all goods falling

Credit of Education Cess & SHEC can be used for payment of Excise Duty by Manufacturers

Posted by Bimal Jain 04 May 2015 37012 Views

Credit of Education Cess & SHEC can be used for payment of Excise Duty by Manufacturers and Gist of Other important Notifications - LS passed Finance Bill, 2015 The Lok Sabha passed the Finance Bill, 2015 which includes various tax proposals pres

N. No.12/2015-CE(NT) - Fate of Service Providers?

Posted by CA. C V SURYAM 04 May 2015 19060 Views

The most awaited notification on the fate of opening cenvat credit of Education Cess (EC) and SHE Cess (SHEC) lying as on 01/03/2015 has been notified on 30/04/2015. But this notification speaks about only excise duty payable by manufacturers but no

Taxation under MAT

Posted by Manish Kumar Agarwal 04 May 2015 29422 Views

Normally, a company is liable to pay tax on the income computed in accordance with the provisions of the Income-Tax Act, but the profit and loss account of the company is prepared as per provisions of the Companies Act. In the past, a large number of

Return of Income

Posted by CMA Poornima Madhava 02 May 2015 31813 Views

Who has to submit return of income? Taxpayer Section under which return to be filed Minimum income to attract the provisions of filing return of income Company or firm 139(1) Any income/loss

Public Provident Fund - Best investment destination

Posted by Sensys Technologies 01 May 2015 23720 Views

Introduction PPF is money that will be yours forever. Knowledge of the different features of the PPF account will help you when you want to take a loan against the account, withdraw from the account, re-activate a discontinued account etc. Here an a

CBEC clarifies - Clearance from DTA to SEZ is Export and eligible for rebate of duty

Posted by Bimal Jain 01 May 2015 17851 Views

Dear Professional Colleague, CBEC clarifies - Clearance from DTA to SEZ is Export and eligible for rebate of duty Background: In the Union Budget, 2015 vide Notification No. 06/2015-C.E. (N.T.) dated March 1, 2015 (Effective from March 1, 2015), E

Revised procedure for MVAT registration

Posted by Mahendra Borhade 01 May 2015 23973 Views

Revised Procedure for MVAT\CST\PTRC\PTEC Registration by way of introduction to common e-Registration Form :Background : Initially separate applications were required to be made with the Registering Authorities for registration under MVAT, CST and PT

Taxation of Forex profit and loss under section 43A

Posted by Manish Kumar Agarwal 30 April 2015 77690 Views

From the ACT. Notwithstanding anything contained in any other provision of this Act, where an assessee has acquired any asset in any previous year from a country outside India for the purposes of his business or profession and, in consequence of a c

How to open PPF Account

Posted by Sensys Technologies 30 April 2015 25009 Views

How to open a PPF account Step 1: Head over to your nearest State Bank of India branch, or a branch of any of State Bank's subsidiaries. You can also open an account in select nationalized banks and the post office. Further, some private banks such a