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We are pleased to update you vide UTM’s (Key Update Alerts). Please find hereunder our “Updates that Matter (UTM # No. 20)”,
Ø Company Law – Commencement of Business Certificate done away for private limited companies. Simple Intimation would suffice.
(Source :- ET)
Ø Haryana VAT: - Gurgaon Sales Tax Department shifts to more lavish Wipro Centre. Shifted to Info-city, Sector 34, Gurgaon.
Ø Haryana VAT:- In PVR Cinema ruling, clarification of popcorn taxability at 5% and not 12.5%
Ø Transfer Pricing (IT): - CBDT acts serious on TDS defaults, Issues SOP for prosecution.
Ø DGFT: - Online Import Export License modus effective now fully for 10 notified banks.
(Effective from 1.2.2015)
Ø Transfer Pricing :- Safe Harbour rules amended for Electricity Companies
Ø FEMA :- Transfer or Issue of Security by PROI regulations amended
Ø Bank A/c’s cannot be freezed under Service tax / Excise once appeal filed & pre-deposit made
Ø Cenvat credit on input service allowable to Job Worker availing Noti. 214/86 exemption under Central Excise
(Western India Forging Pvt Ltd vs. CCE, Pune - 2014 (36) S.T.R. 637 (Tri. - Mumbai)
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