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Updates of the Day

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1. E-filing utility of ITR Forms 3, 4 and 7 have been made active by CBDT. Kindly proceed to filing your returns. Remaining ITR forms 5 and 6 shall be made active soon.

 2. 04.08.2015 is Last date to file D-VAT return for Q1 ending on June 2015 for the financial year 2015-2016 in forms DVAT-16, DVAT-17 and DVAT-48. Circular No. 16 of 2015-2016 dated 27.07.2015.

 3. Availment of CENVAT credit on activities relating to business is allowed. [RSWM Limited. vs. CCE, CESTAT - New Delhi].

 4. Modified versions of MCA Forms 20B, 23AC, 21A, 23ACA, 66, 23ACA(XBRL), 23B effective from 01.08.2015 cannot be used for F.Y. 2014-15 read with general circular 08/2014.

 5. Delhi Government increased Luxury Tax Rate from 10% to 15% (w.e.f. 01.08.2015).

 6. The Central Government has made amendment in the Customs Table, against S.No.10A, in column (3), now the words “functional Director or the Chief Executive Officer, as the case may be,” has been substituted.

 7. NIRC of ICAI is organising workshop on FEMA on 5 and 6 August from 4PM - 8PM at IMA, ITO, New Delhi. Fee 500/- (Per Day). No fee for NIRC Annual Members.

 8. CASLB of ICAI hosted Exposure Drafts of the Accounting Standard for Local Bodies (ASLB) 2, 'Cash Flow Statements' for comments. Visit http://www.icai.org/

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