Home Highlights July 2012 Year 2012 This

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1. Assessment of turnover of the applicant as per Section 4(3) of the VAT - levy of tax on turnover of sale has to be done in the manner provided in Section 4(3) of the Act...

2. Charging interest u/s. 234B(3) / (4) - The section 234B(4) states that if there is any increase or decrease in the income, correspondingly interest shall be increased or...

3. Entitlement for interest on refund - finalizing the assessment after delay of 8 years - The appellant is entitled to interest if the refund is payable after the expiry...

4. Revision u/s 263 - Period of limitation - To be commenced from original assessment order or re-assessment order u/s 147 - In the case on hand, the jurisdiction under...

5. Since Appellant were paying the duty utilizing the CENVAT Credit they cannot be charged for contravention of the provisions of Rule 4, 8(1), 8(3) & 8(3A) of the Central...

6. The key points covered in the legal document are: 1. It introduces new forms (GST SPL-01 to GST SPL-08) for taxpayers to apply for waiver of interest and penalty u/s...

7. Appellant was found guilty of contravening Sections 8(3) read with 8(4) and Sections 8(3) read with 8(4) read with Section 64 of FERA for over-invoicing imported books...

8. Validity of assessment order passed u/s 153(1) - Period of limitation - In this case, since, the Assessing Officer cannot invoke jurisdiction u/s.144C(1) and pass draft...

9. Central Government amends Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Rules, 2016. Key changes: Substitutes form numbers...

10. Determination of period for Grant of incentives of exemption from Tax - Had the State intended to confine the benefit granted to New Information Technology Industrial...

11. Merger of Forms IEPF-3 with IEPF-4 and IEPF-7 with IEPF-1 along with change in payment process in MCA Version 3. To ease compliance burden and simplify filings, Form...

12. This circular amends the requirement under Chapter 1 at Para 4.3.3.1 of the SEBI Master Circular (Stock Exchanges and Clearing Corporations) dated October 16, 2023,...

13. Rate of central sales tax (CST) in interstate sale of Iron & Steel - 4% or 2% - So long as a notification under Section 8 (1) is not issued, the proviso to Section 8(1)...

14. Contravention of Sections 8(1) and 9(1)(f)(i) of the Foreign Exchange Regulation Act, 1973 - receiving foreign exchange payments in 1996-97 through fake export documents...

15. Condonation of delay in filing appeal - cancellation of the GSTIN registration of the petitioner - It is true that the petitioner has not filed any application for...