Author name: CA Ritul Patwa

NEW ONLINE FORM FOR COMPANY INCORPORATION – SPICe

Chartered Accountants / By

The Ministry of Corporate Affairs has taken another bold initiative in Government Process Re-engineering (GPR) and launched Simplified Proforma for Incorporating Company Electronically (SPICe) e-Form, on the occasion of Gandhi Jayanthi 2016, with the specific objective of providing speedy incorporation related services within stipulated time frames which are in line with international best practice. SPICe’s …

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RELIEF NOTIFIED FOR EDUCATION INSTITUTIONS AGAINST SERVICE TAX ON TRANSPORTATION FEES RECEIVED BETWEEN 01-04-2013 TO 10-07-2014

Chartered Accountants / By

In a major relief to the Education Institution’s across India, the Central Government has issued Notification No. 45/2016 – Service Tax dated 30th Day of September, 2016, in exercise of the power conferred u/s 11C of the Central Excise Act, 1944 (1 of 1944), read with Section 83 of the Finance Act, 1994 (32 of 1994), …

RELIEF NOTIFIED FOR EDUCATION INSTITUTIONS AGAINST SERVICE TAX ON TRANSPORTATION FEES RECEIVED BETWEEN 01-04-2013 TO 10-07-2014 Read More »

FAQ’s ON ENTRY TAX IN RAJASTHAN ON E-COMMERCE COMPANIES, ONLINE MARKET PLACE & SALE THROUGH ELECTRONIC MEDIA

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Entry Tax has been imposed on E-Commerce Companies, Online Market Place and sale of Goods through Electronic Media on goods sold within Rajasthan from outside the state of Rajasthan without payment of VAT in the State of Rajasthan. As per government clarification this has been done to protect the interest of revenue in Rajasthan. We …

FAQ’s ON ENTRY TAX IN RAJASTHAN ON E-COMMERCE COMPANIES, ONLINE MARKET PLACE & SALE THROUGH ELECTRONIC MEDIA Read More »

Clarification on Net Rate of Tax – The Income Declaration Scheme, 2016

Chartered Accountants / By

There is an air of confusion due to some misleading clarifications and statements in the media regarding net Tax Liability of 31% under the Income Declaration Scheme, 2016 instead of 45%. A rumour has been raised that the Tax, Interest and Penalty can be paid on the amount declared under the scheme from unknown sources. …

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RELIEF FROM C.B.E.C. – SERVICE TAX ON EDUCATION INSTITUTION FOR 01-04-13 TO 10-07-14

Chartered Accountants / By

Today we have presented the case of Education Institutions before Sh. S. M. Tata, Commissioner, Service Tax, Central Board of Excise & Customs in the North Block, Ministry of Finance, Government of India. Education Institutions across India were under deep pressure from the retrospective and regressive notices, summons and show cause (SCN) issued by the …

RELIEF FROM C.B.E.C. – SERVICE TAX ON EDUCATION INSTITUTION FOR 01-04-13 TO 10-07-14 Read More »

SERVICE TAX – AUXILIARY EDUCATION SERVICE : 01-04-2013 TO 10-07-2014

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The Service Tax Department has initiated the process of issuing Show Cause Notices to Education Institutions for charging Service Tax on Transportation Fees and Hostel Fees charged by them from their Students, Staff and Faculty for the period from 01-04-2013 to 10-07-2014. As per information received, this entire process was initiated by a letter from the …

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HOW TO REGISTER A SUBSIDIARY COMPANY – FOREIGN FDI IN INDIA?

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The Government of India has taken several measures to facilitate FDI by Foreign Companies in India including simplified registration process, limited legal compliances, permission for FDI under Automatic Route (except for areas like Defence, Broadcasting, Multi Brand Retail, Telecom, etc.) where sectarian cap (FDI Limits) are prescribed. For a specific query on the Sector you …

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