CAclubindia Articles

Union Cabinet approves GST Constitution Amendment Bill

Posted by Bimal Jain 19 December 2014 16816 Views

Dear Professional Colleague, Union Cabinet approves GST Constitution Amendment Bill The Union Cabinet, on Wednesday, December 17, 2014 has approved the Constitutional Amendment Bill on Goods and Services Tax (GST), taking a step towards

Couple of keys for MS excel that will save you huge time

Posted by Ashutosh 22 December 2014 32836 Views

Everyday at work, we go through on various calculations and models prepared in MS Excel. Some of these are prepared by us, while many a times, they are prepared by someone else (say a colleague, client, banker, vendor or customer). In all of these si

Reverse charge & partial reverse charge mechanism in ST

Posted by CA. K S Chauhan 19 December 2014 19370 Views

Service Tax is levied under Section 66B of the Finance Act, 1994 as amended up to date. Section 68(1) confers liability to pay service tax on service provider but section 68(2), which has overriding effect over section 68(1), confers liability to pay

New Year Resolution: Have A 'Stop Doing' List

Posted by Nimish Goel 19 December 2014 25267 Views

The difference between successful people and very successful people is that very successful people say No to almost everything. (Warren Buffet)The new-year 2015 is approaching and as usual we all would start to write down

Transfer Pricing adjustment on Corporate guarantee

Posted by Rupesh Srivastava 19 December 2014 19383 Views

TP adjustment on Corporate guarantee 1. [TS-208-ITAT-2014(CHNY)-TP] Transfer of shares in subsidiary, by way of 'gift', to an overseas step down subsidiary (in Cayman Island), not taxable as capital gains u/s 45; Such transfer 'without an

Service Tax on Commission Agent dealing in Import-Export

Posted by Swapnil Munot 19 December 2014 16572 Views

Service Tax on Commission Agent Service on Import-Export of Goods By CA Swapnil Munot In order to promote the Exports, Government of India has given big relief to industries in India, by exempting the service tax on

Supreme Court: Mobile charger is not a part of cell phone

Posted by Sumit Grover 18 December 2014 27484 Views

Honble Supreme Court has delivered a landmark verdict in the matter of STATE OF PUNJAB & ORS. v. NOKIA INDIA PVT. LTD. & pronounced that the mobile/cell phone charger is an accessory to cell phone and is not a part of the cell phone. B

Intermediary redefined - relevance of NT 42/2012 lost?

Posted by AKASH PHOPHALIA 18 December 2014 10693 Views

Intermediary redefined relevance of Notification 42/2012 lost? With the final Budget 2014 an amendment was proposed to change the definition of intermediary. The new definition introduced the words ..or supply of

CENVAT on Capital Goods - Part I

Posted by AKASH PHOPHALIA 18 December 2014 16855 Views

CENVAT credit is available on inputs, input services and capital goods. Rule 2(a) of Cenvat Credit rules, 2004 defines "Capital Goods"

Extended period is not invocable, when penalties were waived

Posted by Bimal Jain 18 December 2014 8398 Views

Dear Professional Colleague,Extended period is not invocable, when penalties were waived off on the ground of interpretational issue being involvedWe are sharing with you an important judgment of the Honble CESTAT, New Delhi, in the case of Sa