Further to Order No. 1/FT & TR/2013 dated 13.08.2013, the CBDT has issued Order No. 2/FT & TR/2013 dated 27.08.2013 regarding the Constitution of the Dispute Resolution Panel in Delhi, Mumbai, Ahmedabad, Pune, Kolkota, Bangalore, Hyderabad and Chennai with effect from 19.08.2013
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Resolution Of Rajasthan Tax Consultants’ Association
RESOLVED that on complaints being received from members broadly raising the following issues in respect of functioning of Hon’ble Accountant Member of ITAT Jaipur Bench; Shri B.R. Jain that
Q & A on Service-Tax VCES 2013
The Voluntary Compliance Encouragement Scheme, 2013 (VCES) has given rise to a number of practical problems. Though the CBEC has issued a clarificatory Circular No. 170/5 /2013 – ST dated 08.08.2013 and also a FAQ, several aspects of the Scheme are still not clear. The author, using his immense practical experience in the subject, has provide clear cut answers to a number of questions raised by tax professionals and tax payers
Change In Constitution Of The Dispute Resolution Panel (DRP)
Vide Order No. 1/FT & TR/2013 dated 13.08.2013, the CBDT has directed a change in the Constitution of the Dispute Resolution Panel in Delhi, Mumbai, Ahmedabad, Pune, Kolkota, Bangalore, Hyderabad and Chennai with effect from 19.08.2013
Transfer Pricing: Rangachary Committee Report On Safe Harbour Rules
The Rangachary Committee was set up in July 2012 to “Review Taxation of Development Centres and the IT Sector” and to “finalise the Safe Harbour Transfer Pricing provisions”. The first report on Taxation of Development Centers and the lT Sector was released in July 2013. The second report on the “Transfer Pricing Safe Harbour” recommendations has been released now
CBDT Releases Draft Transfer Pricing Safe Harbour Rules
The Ministry of Finance has issued a press release dated 14.08.2013 inviting comments and suggestions on the draft “Safe Harbour Rules” proposed to be inserted by way of Rules 10TA to Rule 10TG in the Income-tax Rules, 1962. The Rules have been framed based on the recommendations of the Rangachary Committee
Tax Administration Reform Commission Set Up
The Ministry of Finance has issued a press release dated 13.08.2013 stating that the Union Cabinet has approved the proposal for setting up of the Tax Administration Reform Commission (TARC)
CBEC Service-tax VCES FAQ 2013 Is Available For Download
The CBEC has released a publication titled “Service Tax – Voluntary Compliance Encouragement Scheme (VCES), 2013 – Frequently Asked Questions” in which all doubts and apprehensions raised by taxpayers have been answered by the CBEC in the form of FAQs. For ease of reference, the statutory provisions and the ST VCES Rules containing the VCES forms are also included in the booklet
CBEC Clarification Circular On Service-Tax VCES
The Central Board of Excise and Customs(CBEC) has issued Circular No. 170/5 /2013 – ST dated 08.08.2013 providing important clarifications as to the scope and applicability of the Service Tax Voluntary Compliance Encouragement Scheme (VCES)
CBDT Criteria For Selection Of Scrutiny Cases In FY 2013-14
The CBDT has issued Instruction No. 10 of 2013 dated 05.08.2013 announcing the procedure and criteria for selection of scrutiny cases under the compulsory manual for FY 2013-14. The guidelines appear to have been issued pursuant to the direction of the Delhi High Court in Joginder Pal Gulati vs. OSD – CPIO
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