Vinod & Narendra

Revised norms for service tax exemption / refund to SEZ developers / units

July 9, 2013

Notification No.12/2013-ST dtd. 01-07-2013 The finance ministry has issued a new notification for grant of exemption or refund of tax on services received by developers and units in special economic zones (SEZ) and used for authorised operations. The idea seems to be to make it easier to claim exemption at

Revised Circular–Determination of Transfer Pricing for Development Centres

July 9, 2013

Income Tax

The move reflects willingness of the finance minister and the CBDT to remain flexible to emerging needs of the new business models Circular Nos.05/2013 & 06/2013 dtd. 29-6-2013 The revised circulars issued by the government, last week, on the determination of transfer pricing (TP) for development centres (DCs) are truly

Even as India grapples to get States on board for GST, US Senate Passes Internet Sales Tax Legislation

May 13, 2013

Gujarat VAT & CST

[Source: www.accountingtoday.com; Author: Michael Cohn] The Senate has approved legislation requiring online retailers to collect sales taxes from Internet sales, even if they don’t have a physical presence in the state where the customer resides. The Marketplace Fairness Act has attracted wide support from brick-and-mortar retailers who have seen shoppers

FATCA is a `fatka’ for NRIs

April 26, 2013

Corporate Laws·Income Tax·RBI & FEMA

US may soon get a leash on Indian financial institutions Imagine this: Having moved to the US on a work visa, you have become a taxpayer there. But you have not closed your savings account with State Bank of India and a demat account with its subsidiary. Both you and

Service Tax Return for Oct-Mar 2013–Due Date Extended

April 23, 2013

Service Tax & CBEC

The Central Board of Excise & Customs vide Order No. 03/2013-Service Tax dated 23.04.2013 has extended the date of submission of the Form ST-3 for the period from 1st October 2012 to 31st March 2013, from 25th April 2013 to 31st August 2013. The Form ST – 3, for the

Recent Service Tax Updates

April 17, 2013

Service Tax & CBEC

Due date for filing ST-3 Return for the period July- Sept’12 extended till 30th April, 2013 Considering the difficulties in filing returns, causing inconvenience to the assessee, the CBEC has revised the due date of filing ST-3 Return. [Order No. 02/2013 ST dated 12.04.2013] Erection of pandal or shamiana is

Income Tax department to ‘name and shame’ habitual tax evaders

April 15, 2013

Income Tax

The Income Tax department has decided to name and shame "chronic" tax defaulters by publicising their names and addresses. It is in the process of finalising the procedures of compiling the names and cases pertaining to habitual tax dodgers and subsequently uploading them on its website. "The department would upload

Gujarat Budget 2013-14 proposals enacted

April 11, 2013

Gujarat VAT & CST

[By Shaleen Shah (Partner), VNCA] Gujarat Value Added Tax (Amendment) Act, 2013 enacted through Gujarat Act No.9 of 2013 VAT Amendments proposed in Gujarat Budget 2013-14 presented on 24-Feb-2013, was enacted & received the assent of the Governor on 30-Mar-2013. The tax amendments made in the budget and notified vide

Consolidated FDI Policy Circular effective April 5, 2013 – Policy or a mere consolidation???

April 9, 2013

RBI & FEMA

[By CA Tirthesh Bagadia (Partner), Bagadiya & Jain] The Department of Industrial Policy and Promotion (DIPP), Ministry of Commerce & Industry, Government of India has come out with a FDI policy that is in tandem with its name – only a mere consolidation of the already issued press notes/ press

RBI Circular – “Write-off

March 15, 2013

RBI & FEMA

RBI/2012-13/435 A.P. (DIR Series) Circular No. 88 March 12, 2013 To All Category – I Authorized Dealer Banks Madam / Sir, “Write-off

Earlier Posts

Revised norms for service tax exemption / refund to SEZ developers / units

Revised Circular–Determination of Transfer Pricing for Development Centres

Even as India grapples to get States on board for GST, US Senate Passes Internet Sales Tax Legislation

FATCA is a `fatka’ for NRIs

Service Tax Return for Oct-Mar 2013–Due Date Extended

Recent Service Tax Updates

Income Tax department to ‘name and shame’ habitual tax evaders

Gujarat Budget 2013-14 proposals enacted

Consolidated FDI Policy Circular effective April 5, 2013 – Policy or a mere consolidation???

RBI Circular – “Write-off

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