FINANCE BILL NO 18 OF 2016
https://drive.google.com/file/d/0B1rRav-P4-8JbXRMMURwTUFuM0U/view?usp=sharing
https://drive.google.com/file/d/0B1rRav-P4-8JbXRMMURwTUFuM0U/view?usp=sharing
Monday, 29 February 2016
Thursday, 4 February 2016
E-PAYMENT UNDER GVAT
Gujarat Commercial Tax department has issued a circular dated 06.01.2016 making e-payment of Gujarat VAT mandatory for those traders whose total amount payable (tax, interest and penalty) is equal or more than Rs.50,000.00 ( Rupees Fifty Thousand) in any one tax period. This is effective for all those tax payments, including interest and penalty, required to be made for the month of December 2015 or Quarter ending on 31st December 2015, i.e. up to 22.01.2016 and also for all such amounts payable for all the tax periods there after.
Copy of the circular:https://drive.google.com/file/d/0B1rRav-P4-8JMkN6eGVpSnF5Sm8/view?usp=sharing
How the e-payment is made?
Explained in the link below through snap shots:
https://drive.google.com/open?id=0B1rRav-P4-8JbUdIUXpUZ2h1Wjg
Courtesy: CA. Kamlesh Sandanshiv
Partner
Vinay Kaushik & Co.
Chartered Accountants
Wednesday, 27 January 2016
REGISTRATION OF COMPANY’S NAME – RECENT CHANGES
On 26th Jan., 2016 Government has notified the Companies (Incorporation) Amendment Rules, 2016. With the amendment, process of registration of company has been more simplified.
Read More:
https://drive.google.com/file/d/0B1rRav-P4-8JcjdnN2dhR3daM3c/view?usp=sharing
Source: http://www.mca.gov.in/Ministry/pdf/Amendement_Rules_22012016.pdf
Read More:
https://drive.google.com/file/d/0B1rRav-P4-8JcjdnN2dhR3daM3c/view?usp=sharing
Source: http://www.mca.gov.in/Ministry/pdf/Amendement_Rules_22012016.pdf
Wednesday, 18 November 2015
FAQ ON SWACHH BHARAT CESS
In his speech for Budget 2015-16 the Hon’ble Minister of Finance said that "Swachh Bharat is not only a programme of hygiene and cleanliness but, at a deeper level, a programme for preventive health care, and building awareness". Since then we all were awaiting the date from which this cess is going to be enforced. At last on 6th of Nov. 2015 Central Government issued Notification No. 21/2015-Service Tax whereby announced 15th of Nov. 2015 as the date for enforcement of Swachh Bharat Cess.
A step further, Central Government has also cleared the doubts in the mind of general public about the utilization of the fund created out of Swachh Bharat Cess. It has been promised that the proceeds of the SBC will be credited to the Consolidated Fund of India, and the Central Government may, after due appropriation made by Parliament, utilize such sums of money of the SBC for the purposes of financing and promoting Swachh Bharat initiatives or for any other purpose relating thereto.
Read More:
https://drive.google.com/file/d/0B1rRav-P4-8Jc2tQVFJzTDhsazA/view?usp=sharing
Date of enforcement of Swachh Bharat Cess
Chapter VI (Section 119) of the Finance Act 2015 contains provisions for levy and collection of Swachh Bharat Cess (SBC). Now the Government has announced 15th November, 2015 as the date from which the provisions of Section 119 would come into effect. (notificationNo.21/2015-Service Tax, dated 6th November, 2015 refers).
Copy of Notification No. 21/2015-Service Tax:-
Simultaneously, Government has also notified levy of Swachh Bharat Cess at the rate of 0.5% on all taxable services. Effectively, the rate of SBC would be 0.5% and new rate of service tax plus SBC would be 14.5%. As such SBC translates into a tax of 50 paisa only on every one hundred rupees worth of taxable services. The proceeds from this cess will be exclusively used for Swachh Bharat initiatives.
Provided that Swachh Bharat Cess shall not be leviable on services which are exempt from service tax by a notification issued under sub-section (1) of section 93 of the Finance Act, 1994 or otherwise not leviable to service tax under section 66B of the Finance Act, 1994.
Copy of Notification No. 22/2015-Service Tax:-
Tuesday, 18 August 2015
ONLINE VERIFICATION OF PAN, SERVICE TAX AND CENTRAL EXCISE REGISTRATION
PAN - Online Verification
By using the PAN Verification facility, one can know/verify the Permanent Account Number (PAN). This facility is refered to as "PAN Verification" or "Know Your PAN". This facility can be accessed from :
This facility can be used to verify the PAN of individuals as well as non-individual PAN holders like firm, company, etc. To verify the PAN one has to provide basic details of the PAN holder which cover Date of Birth/Date of Incorporation of the PAN holder and surname, middle name and first name of the PAN holder.
After providing the details in the system, the verification code appearing on the screen is to be entered and then the request is to be submitting by clicking on "Submit". On clicking "Submit" the PAN verification request will be submitted. If the details provided in the system are correct and match with the database of the Income-tax Department, the Permanent Account Number linked with the respective details will be displayed along with the name and jurisdiction of the PAN holder. The status of the PAN, i.e., whether active or not will also be displayed.
Using the above discussed facility one PAN can be verified at a time. The bulk PAN verification facility can be used by Government and non-Government entities who wish to verify multiple PANs. To use the facility of "Bulk PAN Verification" one has to get himself registered as "Bulk PAN Verification User". Check the following link for registering as a "Bulk PAN Verification User" :
After getting registered as a "Bulk PAN Verification User", the user can carry on verification of multiple PANs by uploading the bulk PAN verification query.
Service Tax and Central Excise registration- Online Verification
The facility enables the Assessee to view its details (name, address, location code) as present in the Assessee Master provided by CBEC. Details of Assessee codes allotted for Service Tax and Central Excise can be viewed using this facility.
Subscribe to:
Posts (Atom)