CBEC extends last date for ST-3 return filing to January 6, 2012

CBEC extends last date for ST-3 return filing to January 6, 2012 Posted: 29 Dec 2011 06:33 PM PST ORDER NO 3/2011 – Service Tax, Dated: December 29, 2011 -In exercise of the powers conferred by Rule 7(4) of the Service Tax Rules 1994 read with notification No. 48/2011-Service Tax dated 19th October 2011, Central Board of Excise and Customs... [[ This is a content summary only. Visit www.taxguru.in for full article.]] Finance budget 2012-13 likely on February 29 Posted: 29 Dec 2011 05:35 PM PST In the usual course, the budget is presented in the Lok Sabha on last working day of February. As 2012 is the leap year, the last working day of the month falls on February 29. There are reports that the government might postpone the date of... [[ This is a content summary only. Visit www.taxguru.in for full article.]] Companies (Accounting Standards) (Second Amendment) Rules, 2011 – Amendment in sub-heading 'Accounting Standard (AS) 11' relating to The Effects of Changes in Foreign Exchange Rates Posted: 29 Dec 2011 05:24 PM PST . In the Companies (Accounting Standards) Rules, 2006, (hereinafter referred to as the said rules), in the Annexure, Under the heading 'B. ACCOUNTING STANDARDS', in the sub-heading 'Accounting Standard (AS) 11' relating to The Effects of Changes in... [[ This is a content summary only. Visit www.taxguru.in for full article.]] MCA Provides facility to register your Complaints and Grievances Posted: 29 Dec 2011 04:19 PM PST User Complaints & Grievances Complaint Raise complaint or concerns with respect to MCA21 services Grievance Raise a grievance (Please use this link only if you are a MCA Employee/Ex-employee) [[ This is a content summary only. Visit www.taxguru.in for full article.]] Applicability of the Institute's Pronouncements, Publications for CA Final Examination May, 2012 Posted: 29 Dec 2011 04:02 PM PST We have attached with this post a file which explain in detail subject wise applicability of Institute's Pronouncements, Publications for the students who are appearing in CA final examination in May,2012. The file is released by ICAI on... [[ This is a content summary only. Visit www.taxguru.in for full article.]] PCC, IPCC and CA Final Student – Non-applicability of Revised Schedule VI for May 2012 Examinations Posted: 29 Dec 2011 03:47 PM PST This is to bring to the attention of students that the Revised Schedule VI to the Companies Act, 1956 issued by the Ministry of Corporate Affairs on 28th February, 2011 pertaining to the preparation of Balance Sheet and Profit and Loss Account under... [[ This is a content summary only. Visit www.taxguru.in for full article.]] Approval u/s. 80G once granted shall continue to be valid in perpetuity unless a show cause notice issued by CIT showing intention to withdraw such approval Posted: 29 Dec 2011 02:53 AM PST Lions Club of Calcutta Hastings Vs DIT (Exemption)- (ITAT Kolkata)- In the present case no show cause notice has been issued to the assessee. Therefore, we do not see any merit in this contention of the lad that the provisions contained in section... [[ This is a content summary only. Visit www.taxguru.in for full article.]] Section 80G – Approvals already granted to the assessee u/s 80G, if expiring on or after 1.10.2009, shall be deemed to have been extended in perpetuity Posted: 28 Dec 2011 11:09 PM PST Ina Raja Memorial Education Trust Vs DIT (Exemptions) - (ITAT Delhi) - In this case, the assessee made an application on 24.2.2011 in Form No. 10G, seeking renewal of exemption u/s 80G of the Act, which has been rejected by the ld. CIT(A) by... [[ This is a content summary only. Visit www.taxguru.in for full article.]] Sales tax incentive have direct nexus with the manufacturing activity, Commission paid to related parties at rates higher then unbrelated parties not allowable Posted: 28 Dec 2011 10:10 PM PST M/s Diamond Tool Industries Vs. JCIT (ITAT Mumbai)- Gauhati High Court in the case of Meghalaya Steels Ltd. (supra) after considering the decision of Hon'ble Supreme Court in the case of Liberty India (supra) has held that Central Excise Duty has... [[ This is a content summary only. Visit www.taxguru.in for full article.]] ITAT referred matter back to CIT(A) to consider revised computation filed at the time of assessment Posted: 28 Dec 2011 09:24 PM PST Jalan Finvest Pvt. Ltd., Kolkata Vs. (ITO) - (ITAT Kolkata) - In ground no.3 raised by assessee it was mentioned that the revised computation at the time of assessment was not considered. However it is observed from the impugned order that the ld.... [[ This is a content summary only. Visit www.taxguru.in for full article.]] Companies (Accounting Standards) Amendment Rules, 2011 – Amendment in date of Applicability of Accounting Standard (AS) 11 relating to 'The Effects of Changes in Foreign Exchange Rates' Posted: 28 Dec 2011 08:26 PM PST These rules may be called the Companies (Accounting Standards) Amendment Rules, 2011. In the said rules, in the annexure under the heading B. Accounting Standard, in the sub-heading Accounting Standard (AS) 11 relating to The Effects of Changes in... [[ This is a content summary only. Visit www.taxguru.in for full article.]] SEBI order in the matter of irregularities in recent IPOs of seven Companies Posted: 28 Dec 2011 08:25 PM PST SEBI had initiated preliminary investigations into certain recent Initial Public Offers (IPOs), on receipt of information of irregularities from various sources. Based on the findings of the preliminary investigations carried out, Shri Prashant... [[ This is a content summary only. Visit www.taxguru.in for full article.]] External Commercial Borrowings (ECB) denominated in Indian Rupees (INR) – hedging facilities for non-resident entities Posted: 28 Dec 2011 08:24 PM PST A. P. (DIR Series) Circular No.63 i.eligible borrowers have been permitted to avail of ECBs designated in INR from foreign equity holders under the automatic/ approval route, as the case may be, as per the extant ECB guidelines. NGOs engaged in... [[ This is a content summary only. Visit www.taxguru.in for full article.]] Clarification regarding registration of contracts of cotton and cotton yarn with DGFT Posted: 28 Dec 2011 08:24 PM PST Policy Circular No. 51(RE-2010)/2009-14 Through Notification No. 40 (RE-2010)/2009-14 dated 31.03.2011, export of cotton yarn was made "Free" subject to registration of export contracts with DGFT, for ITC(HS) Code 5205, 5206 & 5207. Procedure... [[ This is a content summary only. Visit www.taxguru.in for full article.]] Clarification on Deemed Export benefits when imported capital goods are directly supplied as such to Project Authority – regarding Posted: 28 Dec 2011 08:23 PM PST Policy Circular No.50/2009-2014 (RE 2010) In case capital goods have been imported by the contractor/sub-contractor and supplied as such to project authorities, then custom duties paid on such imports can not be refunded back as deemed export duty... [[ This is a content summary only. Visit www.taxguru.in for full article.]] Clarification regarding Handling of Cargo in Customs Areas Regulations, 2009 Posted: 28 Dec 2011 08:21 PM PST Circular No. 54 / 2011-Customs it is clarified that all cases of lease, gift, sale or subletting or transfer of the premises in any other manner, in a customs area by major ports may be firstly examined to see whether required permission from the... [[ This is a content summary only. Visit www.taxguru.in for full article.]] Economic and Financial Developments in Andaman and Nicobar Islands Posted: 28 Dec 2011 08:18 PM PST Andaman & Nicobar Islands, a Union Territory of India since 1956, is an archipelago of 572 islands (306 islands and 266 rocks) and has a geographic area of 8,249 square kilometre. Of these islands, only 38 have human habitation. The UT is... [[ This is a content summary only. Visit www.taxguru.in for full article.]] Legislative Reforms- Strengthening Banking Sector Posted: 28 Dec 2011 08:17 PM PST Empirical research shows that better developed financial systems accelerate economic growth and shrink income inequality by disproportionately increasing the earnings of lower income families2 i.e. enabling growth with equity, which is so vital for... [[ This is a content summary only. Visit www.taxguru.in for full article.]] Financial Reporting in the context of Financial Stability – A Regulator's view on Some Accounting Issues Posted: 28 Dec 2011 08:16 PM PST The history of the Indian accounting profession can be traced back to the enactment of the Companies Act in 1857 that introduced for the first time the concept of preparing balance sheet on a voluntary basis by companies. We have come a long way... [[ This is a content summary only. Visit www.taxguru.in for full article.]] Short Term Cooperative Credit Structure and Financial Inclusion Posted: 28 Dec 2011 08:15 PM PST As you may perhaps be aware, the United Nations has declared the year 2012 as the International Year of Cooperatives and, to my mind, this is precisely what makes today's Central Zone Cooperative Conference, both contextually and topically, very... [[ This is a content summary only. Visit www.taxguru.in for full article.]] CBEC declares Rate of exchange of conversion of each of the foreign currency with effect from 1st January, 2012 Posted: 28 Dec 2011 08:14 PM PST Notification No.88 / 2011 - Customs (N.T.) In exercise of the powers conferred by section 14 of the Customs Act, 1962 (52 of 1962), and in supersession of the notification of the Government of India in the Ministry of Finance (Department of Revenue)... [[ This is a content summary only. Visit www.taxguru.in for full article.]] Amends Notification No 85/2004-Customs, dated the 31st August, 2004 so as to effect the HSN changes Posted: 28 Dec 2011 08:11 PM PST Notification No. 115/ 2011 - Customs In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby... [[ This is a content summary only. Visit www.taxguru.in for full article.]]