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Updates of the day...

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Updates Of the Day
1.ICAI solicits suggestions / views on ITR forms as Ministry of Finance, has constituted a committee on ITR forms to review the existing ITR forms and suggest modifications.
2.No VAT is leviable on website selling goods via electronic mode. in the case of [Flipkart] (Kerela High Court) quashed the demand on Flipkart on sales to customers within state.
3.Date for filing DVAT return for 2nd QTR 2015-16 extended to 16/11/2015.
4.Benefit of exemption notification only for goods covered in notification and cannot be extended to similar goods (Supreme Court) [Larsen and Toubro Limited vs CCE]
5.MCA has revised the versions of annual filing forms, e forms AOC - 4, MGT - 7 w.e.f 29th October 2015 and form 8 LLP is likely to be modified w.e.f 28th October 2015.
6.Extension of last date of form AOC-4 XBRL, AOC-4 and MGT-7 to 30th November 2015 without any additional fees. Circular No.14/2015 dated 28/10/2015.
7.AO cannot make adjustment to book profits certified by auditor to be computed as per prescribed accounting norms. [DCIT vs. Garware Polyester Limited] (ITAT Mumbai).
8.Exemption under section 10 (23C) (vi) available only to approved educational institutions in existence. [Ram Piyari Devi Charitable Trust vs. DGIT] (Delhi High Court)
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