The Department of Sales Tax today said that a total of 1,40,000 VAT dealers are yet to file their e-returns. The Department further said that it has already started taking legal action against these 1,40,000 VAT dealers for not filing e-returns, a pr ..
May 5, 2009Hon’ble Justice Dalveer Bhandari, Judge, Supreme Court of IndiaThe Learned Judge laments that the Income-tax Act is a “national disgrace”. He says that it is unfortunate that the law is so complex that even practising Law ..
F.No.276/109/2007-CX.8AGovernment of IndiaMinistry of FinanceDepartment of Revenue(Central Board of Excise & Customs)Legal SectionNew Delhi, 21st May, 2009Circular No.888/8/2009-CX.Subject : Power to condone delay beyond 180 days by High Court in ..
GOVERNMENT OF INDIAMINISTRY OF FINANCE(DEPARTMENT OF REVENUE)New Delhi, 22nd May, 2009Notification No. 6 /2009 - Central ExciseG.S.R. 351(E).- In exercise of the powers conferred by sub-section (1) of section 5A of the Central Excise Act, 1944 (1 of ..
IN A first-of-its-kind judgement, the Income Tax Appellate Tribunal (ITAT) recently ruled that a recipient of an interest-free loan from a non-relative is not liable to pay tax. The judgement will come as a major relief for people who borrow money fr ..
INDIA BUSINESS WORLD - 1st May To 15th May - 2009 NO CHANCE OF SERVICE TAX ON LOTTERY, RULES SUPREME COURTTHE Supreme Court has ruled that no service tax can be levied on the sale, promotion and marketing of lottery tickets. A bench comprising Justic ..
New TDS and TCS payment and information reporting system - Notification No. 858(E), dated 25th March, 2009 published in Official Gazette Circulars No. 02/2009 Dated 21-5-2009 The Finance Act, 2008 inserted a new sub-section (1A) in section 143 of t ..
The full budget to be presented by the new government in the forthcoming session of Parliament to begin sometime next month may come packed with some concessions for the middle class by way of raising the tax exemption limit to up to Rs 1.75-Rs 2 lak ..
Come May 16, the commercial tax department will switch to a new slab system for value added tax (VAT) levied on hotels.As of now, irrespective of the size of a hotel, the tax levied is 7.5 per cent in addition to the input tax levied on purchasing gr ..
In a significant departure from its original plans, the Centre and states have decided not to reduce the Central Sales Tax (CST) rate in 2009-10. Instead, the tax will be completely withdrawn once the proposed goods and services tax (GST) is introduc ..
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