201602.27
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EXPECTATIONS FROM BUDGET 2016

The Budget 2016, even if it is not going to be a populist one, it should emerge at least as a transforming budget to pave the way of GST much closer than the last year. AMLEGALS has the following expectations from the budget 2016: 1.Relaxations In Tax Liability for Startups If we cherish for “Make…

201602.27
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Supreme Court Issued  Notice to Centre over PIL on Establishing National Court of Appeal

Supreme Court has sought response from Centre on a PIL seeking setting up of National Court of Appeal with regional benches in major cities to decide cases arising from high courts. SC further said that they want to foucs on constitutional matters rather than entertaining appeals under various laws. At present ,various constitutional matters are…

201602.09
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Cenvat Credit can be allowed on Computer Generated invoices bearing no signature

Issue Whether Cenvat Credit can be  availed on the basis of computer generated invoices bearing no signature but  a declaration that  “This computer generated paper does not need signature”. Dispute Revenue disputed that the computer generated invoices bearing a declaration “This computer generated paper does not need signature”  are not valid documents to avail cenvat…

201602.05
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Cenvat Credit is admissible on sales promotion , It Will Have Retrospective Application

Cenvat Credit is admissible on  sales promotion which includes services by way of sale of dutiable goods on commission basis . The notification no. 02/2016-C.E(N.T) inserts an explanation  in clause (l), after sub-clause (C) of Rule 2 of Cenvat Credit Rules,2004. The Explanation is reproduced herein below : For the purpose of this clause, sales promotion includes…