The Central Government has extended the date of filing of ST-3 returns to 29.04.2016 from 25.04.2016 owing to certain difficulties being faced by the taxpayers in the ACES application. Order 1/2016 — Service Tax dated 25.04.2016 has been issued in this regard.
The Central Board of Excise and Customs (CBEC), Department of Revenue, Ministry of Finance, Government of India has taken several measures to manage litigation and reduce disputes. The prominent initiatives are given below: Litigation Management:• The threshold limit below which appeals are not to be filed by the department in CESTAT (Tribunal) and High Courts…
The Central Government has , by Circular No. 1026/14/2016-CX dated 23rd April, 2016, extended the time limit for taking Central Excise registration of an establishment by a jeweller up to 01.07.2016. However, the liability for payment of Central Excise duty is with effect from 1st March, 2016. The assessee jewellers may make the payment of…
In order to improve the operational and financial efficiency of State power distribution companies (DISCOMs), Ministry of Power, Government of India had framed UDAY (Ujwal DISCOM Assurance Yojana) scheme on November 20, 2015. As part of the scheme, Reserve Bank of India had issued the special bonds (non-SLR special securities) on behalf of eight State…
The Reserve Bank of India (RBI) compiles and publishes on a daily basis the Reference Rate for Spot USD/INR. Under the existing methodology, the rate is arrived at through a polling process involving rates obtained from select banks. RBI had constituted a Committee on Financial Benchmarks (Chairman: Shri P. Vijaya Bhaskar) to study the various…