Skip to main content

Updates of the Day !!!!!

1. CMII of ICAI Invitation for Nomination for the ICAI Awards, 2015. For filing nominations, kindly visit www.corporateforum.icai.org

2. Electronic filing of form-6 under The Black Money Act has been enabled under the menu “E-FILE” after Login. Taxpayers are requested to e-file form-6 during the compliance window which ends on 30th September, 2015.

3. CBDT Notification Dated 27-07-2015 :Extension from 31-07-2015 to 31-08-2015 of last date to file Wealth tax return for A.Y. 2015-16.

4. Rule 25 of Haryana VAT Rules 2003, amended so as to exclude the cost of land in case of valuation of builder/developer. [Punjab and Haryana High Court in CHD Developers vs. State of Haryana & Ors]

5. Extension to 04-08-2015 of Last date to file D-VAT return for Q1 of 2015-16 in Forms DVAT-16, DVAT-17 and DVAT-48[Circular no.16 of 2015-16 dated 27-07-15 ]

6. The refund of cenvat credit is allowed if input services were used in relation to export and the export proceeds were not realized.[ P&P Overseas vs. CCE CESTAT - New Delhi ]

Comments

Popular posts from this blog

Govt’s gamble on GST cuts: What do the bond and currency markets signal?

  It’s not just humans who suffer from cognitive biases; markets do too. Interestingly, different financial markets exhibit distinct biases, each interpreting events through its own prism of prejudice. Take the recent announcements on GST reforms: equity markets have chosen to view them through the lens of growth, while bond and currency markets are focusing on potential macroeconomic risks—fiscal pressures and current account challenges. So, which lens captures the true pulse?Equity markets may be right in expecting GST reforms to revive consumption, which has remained lacklustre for a while. But the key question remains—will this revival come at the cost of broader macro stability?It is well known that consumption stocks have rallied since the GST rationalisation announcement. But what about bond markets? What signals are they sending since this rejig was announced from the ramparts of the Red Fort?The signs aren't encouraging. Bond prices have slumped and yields have surged sinc...

Luxury carmakers urge clarity on GST rates to boost festive season sales

  A clear picture regarding new GST rates at the earliest will help the overall auto industry, including the luxury car segment, to regain momentum in the ongoing quarter, which generally sees enhanced sales on account of the festive season.The high-powered GST Council, chaired by Finance Minister Nirmala Sitharaman, will meet on September 3-4 to discuss moving to a two-slab taxation.In an interaction with PTI, BMW Group India President and CEO Hardeep Singh Brar said the recent speculation about the change in GST rates has caused uncertainty in the minds of consumers.Consumer interest and demand is strong, but they (prospective buyers) have adopted a wait-and-watch approach, and this delayed decision-making is impacting new vehicle sales at a certain level, he noted."Expediting clarity on GST rates is essential to get back to speed and ensure the auto sector's contribution to economic growth during this quarter is robust," Brar stated.He also hoped that the sustainable p...

Sebi proposes tighter norms for green bond third-party reviewers

  Sebi on Friday said it has proposed to tighten the norms to appoint independent third-party reviewers or certifiers for green debt securities to align them with requirements for other ESG-linked bonds.In a draft circular, Sebi said that the current norms for green bonds, introduced in February 2023, lack detailed requirements around reviewer independence, conflict of interest mitigation, and disclosure standards that are now in place for other ESG-linked securities under a June 2025 circular.The regulator's latest proposal seeks public comments on a revised framework that would bring parity by incorporating comprehensive criteria for third-party certifiers of green bonds on non-convertible securities.Under the proposed norms, issuers of green debt securities will need to appoint reviewers who are independent of their management, directors, and key managerial personnel. These reviewers will be remunerated in a way that prevents any conflicts of interest and possess relevant expert...