Finance Bill (No.2) 2014 has vide Clause 98 has proposed an amendment in Section 35F of Central Excise Act that the appeal against an Order passed by lower authorities will not be entertained unless the appellant has made a 7.5 per cent in case of first stage appeal or 10 per cent of the duty
VAT Dealer and Department-Maharashtra Vat Audit
As the last date of submission of Maharashtra VAT Audit Report is 15th of January 2015.
VAT Audit applies to whom?
If the Annual Turnover is more than Rs. 2 Crore then the Taxpayer has to conduct VAT Audit compulsorily. This limit was Rs. 60 lakhs for Financial Year
We regularly face situations where we are required to compute interest under section 234B of the IT Act, 1961 Whereas, the present scenario is that this interest calculation is automatically done in the income tax return (ITR) utility available on the web portal of the Indian Revenue Authorities (IRA), however, it is very important for