TCS to apply only on cash portion of sales transaction CBDT clarifies

0 comments Friday, June 24, 2016
Welcome clarification by CBDT on TCS on Cash Sale.

CBDT vide Circular No. 23/2016 dt. 24 June 2016 has clarified on FAQs of stakeholders reg. scope of the provisions and the procedure to be followed in case of the amended provisions of Section 206C of the Income Tax Act, as under:
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Facility of efiling of returns extended to Punjab luxury tax and Entertainment tax

0 comments Wednesday, June 8, 2016
GOVERNMENT OF PUNJAB 

DEPARTMENT OF EXCISE AND TAXATION 

PUBLIC NOTICE

 Kind Attention: Dealers/Chartered Accountants/Lawyers/Other Stakeholders
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Assessee cannot be asked to reverse ITC for non payment of tax by selling dealers

1 comments Tuesday, June 7, 2016
In a PATH BREAKING JUDGEMENT the Madras High Court has held that  Assessee cannot be asked to reverse input tax credit due to non-payment of taxes by the selling dealers.

Sri Lakshmi Textiles Vs. the Commissioner of Commercial Taxes and Others 

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