CST Compensation to States Soon, says MoS Santosh Kumar Gangwar
The CST Compensation to the states to be released soon in this Financial Year, said Minister of State in the Ministry of Finance Santosh Kumar...
Insurance & Travelling Expenses incurred in Foreign Exchange can be Excluded from Export and Total Turnover: ITAT Bangalore [Read Order]
The Bangalore bench of the Income Tax Appellate Tribunal (ITAT), in M/s. Sunquest Information Systems India Pvt. Ltd v. JCIT, held that the expenses incurred in foreign exchange towards insurance,...
![Insurance & Travelling Expenses incurred in Foreign Exchange can be Excluded from Export and Total Turnover: ITAT Bangalore [Read Order]](https://www.taxscan.in/wp-content/uploads/2016/09/ITAT-Ahmedabad.jpg "Insurance & Travelling Expenses incurred in Foreign Exchange can be Excluded from Export and Total Turnover: ITAT Bangalore [Read Order]")
ITAT has No Power to Grant Stay in Penalty Matters: Delhi HC vacates stay of Rs. 525 crore on NDTV
In a major set back to New Delhi Television Ltd (NDTV), the Delhi High Court vacated the stay granted by the Income Tax Appellate Tribunal.While invalidating the stay order freezing demand of Rs. 525...
Maharashtra Budget: Hike on Price of Liquor, VAT dues to be recovered from Directors of Pvt Companies
Maharashtra Finance Minister Sudhir Mungantiwar has presented state budget 2017-18 on 18th March 2017. The budget proposed to hike VAT rate on country and foreign liquor to 25.93% from 23.08% from...
Amount Received from Off–Shore Supplies of Goods/Materials is not Taxable in India: ITAT Mumbai [Read Order]
Recently, in M/s Iljin Electric Co. v. DCIT, the Mumbai Tribunal held that the amount received from off–shore supplies of goods / materials is not taxable at the hands of the assessee under the...
![Amount Received from Off–Shore Supplies of Goods/Materials is not Taxable in India: ITAT Mumbai [Read Order]](https://www.taxscan.in/wp-content/uploads/2016/09/ITAT-Kolkata-TaxScan.jpg "Amount Received from Off–Shore Supplies of Goods/Materials is not Taxable in India: ITAT Mumbai [Read Order]")
India is Signatory of Multilateral Competent Authority Agreement for Automatic Exchange of Info pertaining to Tax Co-Operation, says Santosh Kumar Gangwar
The Government is a signatory of Multilateral Competent Authority Agreement for automatic exchange of Country-by-Country Reporting (CbC MCAA) pertaining to tax cooperation to enable automatic sharing...
No Ambiguity on Classification of ‘Sarees’: CBEC confirms Applicability of Chapter 52 on ‘Sarees’ [Read Circular]
The Central Board of Excise and Customs, recently clarified that there cannot be any confusion among the classification of ‘sarees’ when chapter 52 of the Central Excise Tariff Act clearly provides...
