{"id":2330,"date":"2016-03-25T12:10:23","date_gmt":"2016-03-25T06:40:23","guid":{"rendered":"http:\/\/carajput.com\/blog\/?p=2330"},"modified":"2021-12-20T13:42:36","modified_gmt":"2021-12-20T08:12:36","slug":"corporate-and-professional-update-dated-march-222016","status":"publish","type":"post","link":"https:\/\/carajput.com\/blog\/corporate-and-professional-update-dated-march-222016\/","title":{"rendered":"corporate and professional update  dated march 22,2016"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_58 counter-hierarchy ez-toc-counter ez-toc-light-blue ez-toc-container-direction\">\n<p class=\"ez-toc-title\">Page Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-69eaa216b043e\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #000000;color:#000000\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #000000;color:#000000\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-69eaa216b043e\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-update-dated-march-222016\/#CORPORATE_AND_PROFESSIONAL_UPDATE_DATED_MARCH_222016\" title=\"CORPORATE AND PROFESSIONAL UPDATE \u00a0DATED MARCH 22,2016\">CORPORATE AND PROFESSIONAL UPDATE \u00a0DATED MARCH 22,2016<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-update-dated-march-222016\/#DIRECT_TAX\" title=\"DIRECT TAX\">DIRECT TAX<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-update-dated-march-222016\/#INDIRECT_TAX\" title=\"INDIRECT TAX \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0\u00a0\">INDIRECT TAX \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-update-dated-march-222016\/#MCA_UPDATES\" title=\"MCA UPDATES\">MCA UPDATES<\/a><ul class='ez-toc-list-level-4'><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-update-dated-march-222016\/#Top_Taxation_Relaxation_to_MSMS\" title=\"Top Taxation Relaxation to MSMS\">Top Taxation Relaxation to MSMS<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-update-dated-march-222016\/#Highlights_of_International_Taxation\" title=\"Highlights of International Taxation\">Highlights of International Taxation<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h3 style=\"text-align: justify;\"><\/h3>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2016\/01\/Untitled29.png\" rel=\"attachment wp-att-1735\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-1735\" src=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2016\/01\/Untitled29-300x136.png\" alt=\"Untitled29\" width=\"784\" height=\"356\" srcset=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2016\/01\/Untitled29-300x136.png 300w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2016\/01\/Untitled29-768x348.png 768w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2016\/01\/Untitled29.png 899w\" sizes=\"(max-width: 784px) 100vw, 784px\" \/><\/a><\/p>\n<h2 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"CORPORATE_AND_PROFESSIONAL_UPDATE_DATED_MARCH_222016\"><\/span><span style=\"color: #000080;\"><strong>CORPORATE AND PROFESSIONAL UPDATE \u00a0DATED MARCH 22,2016<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"DIRECT_TAX\"><\/span><a href=\"https:\/\/www.caindelhiindia.com\/blog\/popular-faq-on-direct-indirect-tax-corporate-regulatory-matters\/\"><span style=\"color: #ff6600;\"><strong>DIRECT TAX<\/strong><\/span><\/a><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul style=\"text-align: justify;\">\n<li><span style=\"color: #00ccff;\"><strong><span style=\"color: #00ccff;\"><a style=\"color: #00ccff;\" href=\"https:\/\/carajput.com\/income-tax-services.php\">Income Tax<\/a><\/span>:<\/strong><\/span>\u00a0Wherever under the DTAA\u2019s. Make available clause is found, then as there is no imparting, the payment in question is not \u2018FTS\u2019 under the Treaty and when there is no \u2018FTS\u2019 clause in the treaties, the payment falls under Article 7 of the Treaty and is business income. \u2013 Tri<\/li>\n<li><strong><span style=\"color: #00ccff;\">Income tax ; <a href=\"https:\/\/carajput.com\/tds.php\">TDS<\/a> u\/s 192 or 194J :<\/span><\/strong> The difference between this clause in two types of agreements itself goes to prove that doctors who are engaged on retainer ship basis are not the servants of the assessee since they are allowed to do whatever they want except joining the similar business while other doctors who are on the pay roll of the assessee are debarred from doing any other activity apart from that of the assessee- (The A.C.I.T. (TDS) , Chandigarh Versus M\/s Fortis Healthcare Ltd.\u00a0&#8211; 2016 (3) TMI 629 &#8211; ITAT CHANDIGARH)<\/li>\n<\/ul>\n<h3 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"INDIRECT_TAX\"><\/span><strong><span style=\"color: #ff6600;\">INDIRECT TAX \u00a0 \u00a0<\/span> \u00a0 \u00a0 \u00a0 \u00a0 \u00a0\u00a0<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul style=\"text-align: justify;\">\n<li><span style=\"color: #00ccff;\"><strong><a href=\"https:\/\/carajput.com\/services-tax-registration.php\"><span style=\"color: #00ccff;\">Service Tax<\/span><\/a>:<\/strong><\/span>\u00a0Exemption from service tax on construction service provided in case of religious use but not to charitable purpose &#8211; clause 13(c) of Notification No. 25\/2012-ST, dated 20.6.2012 &#8211; in the absence of petitioner&#8217;s demonstration that \u00a0enactment\/provision \/notification \u00a0is arbitrary, discriminatory or violative of Article 14 of the Constitution of India, it cannot be declared to be un constitutional. &#8211; HC<\/li>\n<li><span style=\"color: #00ccff;\"><strong>Service Tax:<\/strong><\/span>\u00a0The appellants are eligible for refund under Rule 5 of CCR read with Notfn No.12\/2003 as amended on the input services i.e. Company Secretary Service, Chartered Accountant service , Security service, Legal Consultancy service, ITS service, GTA service &#8211; Tri<\/li>\n<li><span style=\"color: #00ccff;\"><strong><a href=\"https:\/\/carajput.com\/services-tax-registration.php\"><span style=\"color: #00ccff;\">Service Tax<\/span><\/a>:\u00a0<\/strong><\/span>When the assesse is not disputing his liability for discharging the statutory obligations and has paid the entire tax alongwith the interest and 25% of the penalty and there after discharging his obligations as a tax payer, in view of the provisions of Section 73(4A) the proceeding should be deemed to have been concluded &#8211; Tri<\/li>\n<li><span style=\"color: #00ccff;\"><strong>Service Tax:<\/strong><\/span>\u00a0Imposition of penalties for the period 2007-08 to 2010-11 &#8211; Sections 76 &amp; 78 of the Finance Act, 1994 &#8211; if the show cause notices are issued after the date of amendment, penalties under Section 76 and 78 simultaneously cannot be imposed and hence setting aside the penalty under Section 76 is uninterferable &#8211; Tri<\/li>\n<li><span style=\"color: #00ccff;\"><strong>Service Tax:\u00a0<\/strong><\/span>Liability of tax on extended warranty service between October 2005 and September 2010 &#8211; Mere coverage by the extended warranty scheme does not, of itself, create an intention to use the service of the dealer. &#8211; Tri<\/li>\n<li><span style=\"color: #00ccff;\"><strong><span style=\"color: #00ccff;\"><a style=\"color: #00ccff;\" href=\"https:\/\/carajput.com\/services-excise-registration.php\">Central Excise<\/a><\/span>:<\/strong><\/span>\u00a0Valuation of goods sold through dealers &#8211; inclusion of the expenditure incurred by the wholesale dealers in the assessable value of the goods sold by the appellant to such wholesale dealers &#8211; Not to be included &#8211; Tri<\/li>\n<li><span style=\"color: #00ccff;\"><strong>Central Excise:<\/strong><\/span>\u00a0Eligibility of quantity discount &#8211; as cash discount is something which is &#8220;known&#8221; at or prior to the clearance of the goods, being contained in the agreement of sale between the assessee and its buyers, and must therefore be deducted from the sale price in order to arrive at the value of excisable goods &#8220;at the time of removal&#8221;. &#8211; Tri<\/li>\n<li><span style=\"color: #00ccff;\"><strong><a href=\"https:\/\/carajput.com\/services-vat.php\"><span style=\"color: #00ccff;\">VAT<\/span><\/a> and Sales Tax:<\/strong><\/span>\u00a0Principles of natural justice &#8211; it was the assessee, who invited the attention of the Tribunal to the balance sheet &#8211; the Tribunal is entitled to come to its own conclusion from what was produced. It is not part of the principles of natural justice to expect the Tribunal to confront the person producing the document with what is found by the Tribunal &#8211; HC<\/li>\n<\/ul>\n<h3 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"MCA_UPDATES\"><\/span><span style=\"color: #ff6600;\"><strong>MCA UPDATES<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul style=\"text-align: justify;\">\n<li><span style=\"color: #00ccff;\"><strong>Companies Law:<\/strong><\/span> If the contract expressly bars an award of interest pendente lite, the same cannot be awarded by the Arbitrator. &#8211; the bar to award interest on delayed payment by itself will not be readily inferred as an express bar to award interest pendente lite by the Arbitral Tribunal, as the ouster of power of Arbitrator has to be considered on various relevant aspects &#8211; SC<\/li>\n<\/ul>\n<p style=\"text-align: justify;\">Hope the information will assist you in your Professional endeavors. For query or help, contact: <a href=\"mailto:singh@carajput.com\">singh@carajput.com<\/a>\u00a0or call at 9555555480<\/p>\n<p>popular\u00a0 blogs:<\/p>\n<h4><span class=\"ez-toc-section\" id=\"Top_Taxation_Relaxation_to_MSMS\"><\/span><a href=\"https:\/\/carajput.com\/blog\/relevant-parts-of-the-honorable-fm-press-conference\/\">Top Taxation Relaxation to MSMS<\/a><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<h4><span class=\"ez-toc-section\" id=\"Highlights_of_International_Taxation\"><\/span><a href=\"https:\/\/carajput.com\/blog\/international-taxation\/\">Highlights of International Taxation<\/a><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<h4 style=\"text-align: justify;\"><!--more--><\/h4>\n","protected":false},"excerpt":{"rendered":"<p>CORPORATE AND PROFESSIONAL UPDATE \u00a0DATED MARCH 22,2016 DIRECT TAX Income Tax:\u00a0Wherever under the DTAA\u2019s. Make available clause is found, then as there is no imparting, the payment in question is not \u2018FTS\u2019 under the Treaty and when there is no \u2018FTS\u2019 clause in the treaties, the payment falls under Article 7 of the Treaty and &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9933,150,172,9,4],"tags":[9156,5,753],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/2330"}],"collection":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/comments?post=2330"}],"version-history":[{"count":5,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/2330\/revisions"}],"predecessor-version":[{"id":2332,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/2330\/revisions\/2332"}],"wp:attachment":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/media?parent=2330"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/categories?post=2330"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/tags?post=2330"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}