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Updates of the day...

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Updates Of the Day
1.NIRC of ICAI is organizing three days Workshop on Income Computation Disclosure Standards ( ICDS) on 15th, 16th and 17th December 2015 at The Auditorium of ICAI Bhawan, Vishwas Nagar, Shahdara, Delhi from 4.30 PM to 07.30 PM FEE Rs.200/-(Per Day).
2.Income Tax Department, New Delhi invites Empanelment of CA Firms to carry out special audit u/s 142(2A) Last Date : 21.12.2015.
3.Interest, depreciation and profit margin not to be considered for arriving at production cost. [Nirma Ltd. & Others].
4.RBI through its Master Circular dated 01.12.2015 (available on its websitewww.rbi.org.in) has issued Instructions/Guidelines on Credit Card/Debit Card/Pre-Paid Card.
5.RBI has issued Foreign Exchange Management (Transfer or Issue of Any Foreign Security) (Amendment) Regulations, 2015 which shall come into force from the date of their publication in the Official Gazette.
6.If upon a misconception of legal position, assessee had paid tax which he was not liable to pay, then availing Cenvat credit of same cannot be termed as illegal. [Madras High Court].
7.CBEC has issued a circular to clarify the issues being raised regarding the availability of central excise duty exemption to new units or units undertaking substantial expansion after 01.12.2014 in the North Eastern Region.
8.Central Excise and Service Tax assessees in the State of Tamil Nadu, the date for payment of Central Excise duty and Service Tax for November 2015 is extended to 20.12.2015.
9.CBDT extends due date for payment of TDS/TCS for Tamil Nadu State from 07.12.2015 to 20.12.2015.
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