Posted On:  1 year ago


Reg. Import Dur exemption to Micro/Mini SD cards

Extension of benefit of Notification No. 24/2005 dated 01.03.2005 (Sr. No. 3) {as amended by Notification No. 132/2006-Customs dated 30.12.2006 (Serial No. 15)} to Micro/Mini SD cards – reg. Representations have been received from the trade on the subject above.

article author One Roof Consultant

Posted On:  1 year ago


Clearance of bunker fuels to Indian Ship/Vessel carrying containerized cargo

It is hereby directed to refer to Si. No. 65A of notification no. 12/2012-CE dated 17.03.2012 as amended whereby clearance of bunker fuels (i) IFO 180 CST (ii) IFO 380 CST, for use in ships or vessels has been permitted without payment of Central Excise duty subject to the conditions specified under SI. No. 52 of the annexure to the notification. In this connection, trade has requested

article author One Roof Consultant

Posted On:  1 year ago


Bad Debts can be claimed if written of in books as irrecoverable: CBDT

Admissibility of claim of deduction of Bad Debt under section 36(1) (vii) read with section 36(2) of the Income-Tax Act, 1961- reg. CIRCULAR NO. 12/2016, Dated: May 30, 2016 Proposals have been received by the Central Board of Direct Taxes regarding filing of appeals/pursuing litigation on the issue of allowability of bad debt that are written off as irrecoverable in the accounts of the assessee. The dispute relates to cases involving failure on the part of assessee to establish that the debt is irrecoverable.

article author CA Chirag Chauhan

Posted On:  1 year ago


CBDT issues directions to field formations reg taxability of income from transfer of shares of unlisted companies

CBDT, vide order dated 2nd May, 2016 has given direction to field formation, with a view to avoid disputes/Litigation and to maintain uniform approach that the income arising from transfer of unlisted shares, irrespective of period of holding, would be taxable under the head ‘Capital Gain’ except in certain circumstances where the Assessing Officer would examine the issue and take appropriate view.

article author CA Chirag Chauhan

Posted On:  2 years ago


Issue of taxability of surplus on sale of shares and securities – Capital Gains or Business Income – Instructions in order to reduce litigation – Circular No.6/2016

Issue of taxability of surplus on sale of shares and securities – Capital Gains or Business Income – Instructions in order to reduce litigation – Circular No.6/2016

article author CA Chirag Chauhan

Posted On:  2 years ago


Gumasta Renewal and Changes procedure as per under Shop & Establishment Act 1948

Gumasta is to be renewed on expiry of its terms as per Maharashtra Shop & Establishment Act 1948 which is governed by the Municipal Corporation of Greater Mumbai. Following procedure is to be followed for renewal or change in Gumasta license: • Logon to http://www.mcgm.gov.in • Go to Citizen Service after which click on Shop & Establishment Tab. • In case of renewal download Form- B (attached below in annexure B) • In case of Application for Notification of Change download Form- E (attached

article author CA Chirag Chauhan