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Showing posts from December, 2011

Case Law on ITR-V - CPC

Where assessee filed return electronically and had also submitted ITR-V form by ordinary post, department could not treat return as invalid on ground that ITR-V form had not been received by CPC, Bangalore


CBEC prescribes the documents to be submitted along with the application of service tax registration
The following documents have been prescribed by the CBEC to be submitted along with the application for registration under service tax: Copy of Permanent Account Number (PAN) Proof of Residence Constitution of the Applicant Power of Attorney in respect of authorized person (s).The above documents must be submitted within a period of 15 days from the date of filing of the application, otherwise the application may be rejected.  The time limit of seven days within which the registration is to be granted by the Superintendent of Central Excise/Service Tax would be reckoned from the date the application for registration is complete in all respects.

[Order no. 2/2011 - ST dated 13.12.2011 - F.No. 137/120/2011 - ST]


Important message

"Last date for availing benefit under Company Law Settlement Scheme (CLSS), 2011 has been extended up to 15…

Service Tax Circular No.149-ST Refund- Exporters

Circular No. 149/18/2011-ST F.No.354/66/2011-TRU Government of India Ministry of Finance Department of Revenue Central Board of Excise & Customs (Tax Research Unit)                                                                                         146-F, North Block,                      New Delhi, 16th December, 2011 To
Chief Commissioners of Customs (All) Chief Commissioners of Customs and Central Excise (All) Chief Commissioners of Central Excise & Service Tax (All) Director General of Export Promotion Director General of Service Tax Commissioners of Customs (All) Commissioners of Customs and Central Excise (All) Commissioners of Central Excise and Service Tax (All) Commissioners of Service Tax (All)

Subject: Service Tax Refund to exporters through the Indian Customs EDI System (ICES) —   regarding.
So far Service Tax Refund (STR) was made available to exporters (other than SEZ Units/Developers) on specified services used for export of goods covered in Notification 17/2009-ST d…

Draft Bank Branch Auditors' Panel for the year 2011-12

Here is the links for Draft bank Branch Audit Panel:MEF00001 to MEF10000MEF10001 to MEF20000MEF20001 to MEF30000MEF30001 to MEF40000MEF40001 onwards     In case, your application number is not appearing in the above lists, please check the following:·MEF Declaration not received·Financial Documents called for and not received·Reply to query sent pursuant to Financial Documents either not received or under checking      In case of query, pl log a complaint at

Highlights of Companies Bill,2011

Highlights of Companies Bill,2011- SEE ATTACHMENT

Best Wishes

Chartered Accountant
Door No.24-2-1885,
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Central Avenue, MSR Nagar,
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Nellore-524 003
Andhra Pradesh
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Cost Accounting Records Rules,2011

Notifications  prescribing Cost Accounting Records Rules, 2011 for different industriesMCA has vide Notifications G.S.R. 869(E), G.S.R.872(E), G.S.R.874(E), G.S.R. 870(E), G.S.R.873(E) and  G.S.R. 871(E) dated 7.12.2011, notified Cost Accounting Records Rules, 2011 for  6 different industries.  The Rules require the stated industries to keep cost records and books of account, and the books of accounts so maintained to contain specified particulars mentioned in the Schedule annexed to the respective rules. The Rules also prescribe the form of Compliance Report and the form for filing the  Report (duly authenticated and signed by a cost accountant) and other documents with the Central Government in electronic mode.The notified Rules are mentioned as follows:1.The Cost Accounting Records(Telecommunication Industry) Rules,2011 vide G.S.R. 869(E) has superseded Cost Accounting Records (Telecommunications) Rules, 2002 2.The Cost Accounting Records( Sugar Industry) Rules,2011 vide G.S.R. 872…


Income-tax (Ninth Amendment) Rules, 2011 - Insertion of rule 40BA and FoRm No. 29C NOTIFICATION NO. 60/2011 [F. NO. 133/70/2011-SO(TPL)], DATED 1-12-2011 In exercise of the powers conferred by section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely:- 1. (1) These rules may be called the Income-tax (9th Amendment) Rules, 2011. (2) They shall come into force on the 1st day of April, 2012. 2. In the Income-tax Rules, 1962, (hereafter referred to as the "said rules"), after rule 40B, the following rule shall be inserted, namely:- "Special provisions for payment of tax by certain limited liability partnerships 40BA. The report of an accountant which is required to be furnished by the assessee under sub-section (3) of section 115JC, shall be in Form No.29C." 3. In Appendix-II of the said rules, after Form No.29B, the following form shall be inserted, namely:- "…

Article on TDS Issue

TDS Issues - One interesting and beneficial judgment has recently been given by the Tribunal in the case of Dy. CIT v. S.K. Tekriwal [2011] 15 289 (Kol. - Trib.) which shall undoubtedly help in setting aside the objections of the revenue an... - Gaurav Pahuja, CA-


[Attachment(s) from CA. NITESH AGRAWAL included below]

Dear Colleague,
Gujarat Govt has taken a very good step to simplify the VAT Registration Process in Gujarat. According to latest circular, the dealers who want to start business in Gujarat State will be alloted New VAT Registration Number within 3 DAYS ONLY. Also the system of pledging NSC of 10,000 - 50,000 is replaced by tax challan of          FIXED Rs. 10,000/- which shall also be refunded after 2 years. Also, the proofs required for Registration are liberalized. Govt has started Separate Registration Centres in the cities like Ahmedabad , Surat , Vadodara , Bhavnagar , Rajkot and Gandhinagar. The relevant circular for the same is attached herewith.  Regards, Nitesh Agrawal (Partner) B.COM., LL.B., F.C.A., DISA(ICAI), DIRM(ICAI)
N R A & CO. CHARTERED  ACCOUNTANTS G - 1 ,  Trividh Chamber,  Near Rushabh Petrol Pump,  Opp. Fire Brigade, Ring Road, Surat - 395002 Ph : (0261) 2302389 , 3912389 , 6662389  Mobile : 98796 90009 E-mail : ca_ni…

XBRL Filing Date Extended

Important message on due date of XBRL filing As per Circular No. 69/2011, a company is allowed to file the financial statements in XBRL mode without any additional fee up to 31st December, 2011 or within 60 days from the due date, whichever is later. In case of a company whose financial year is ending on 31-03-2011 and if its date of AGM is 30th September 2011, then its Due date for filing financial statements is 30 days from the AGM date i.e. upto 30th October, 2011. Hence, as per the time lines provided in the circular, the company can file its financial statements in XBRL mode without additional fees upto 31st December, 2011 or 60 days from its due date of filing, which is 29th December, 2011 (i.e. 60 days from due date of filing- 30th October, 2011) whichever is later Similarly, In case of a company whose financial year is ending on 30-06-2011 and if its date of AGM is 31st December 2011, then its Due date for filing financial statements would be 30 days from the AGM date i.e. upto…