Saturday, July 7, 2012 |
I. EFFECT OF INITIATIVE TAKEN BY VOICE OF CA IN RESPECT OF SERVICE TAX REPRESENTATION: On 25.04.2012 vide Trade Notice No. 07/ST/2012, Honourable Commissionerate (Service Tax) Delhi had laid down revised procedure and documents required in respect of Single/Centralized Registration. In this trade notice... 1. applicant was required to submit two address proofs for business address and ; 2. applicant was also required to submit detail of three major bank accounts; In this regard, we received representation from practicing professional of service tax, applicants and other stake holder that due to aforesaid two requirement it became very difficult rather impossible to get registered under service tax. On being receive the above representation, we had represented the same to the Honourable Commissionerate (Service Tax) Delhi vide our letter dated 06.06.2012 and requested him to personally look into the matter and resolve above difficulties as soon as possible. The Honourable Commissionerate (Service Tax) Delhi had considered the request of Voice of CA and promptly resolved the above difficulties by issuing fresh Trade Notice 16 dated 18.06.2012. As per this notification, now applicant is required to submit only one address proof and detail of only one major bank account. We the team of Voice of CA on behalf of our professional bothers are very thankful to the Honourable Commissionerate (Service Tax) Delhi for taking immediate action and resolving aforesaid issue. For Letter to Commissionerate Delhi from Voice of CA.... For Trade Notice No. 16 & Check-list for ST Registration.... II. ANALYSIS OF CIRCULAR No. 161/12/2012 – ST DATED 06.07.2012: As we all are aware that after introduction of New Regime of Service Tax (i.e. Negative List Approach), classification of services has been omitted and now service tax is payable on all taxable services except those given in negative list and mega exemption notification. Earlier assessee was required to pay tax under relevant accounting code for various taxable services. Now we need not to search for number of accounting code as the CBEC vide caption circular clarified that service tax shall be deposited in single code. (Please click here for detail)
III. XBRL update: Ministry of Corporate Affairs (MCA) has come out with an Exposure Draft on XBRL taxonomy for Commercial and Industrial (C&I) entities for filing their Balance Sheet and Profit and Loss Account for the financial year 2011-12 based on Revised Schedule VI. (Please click here for detail)
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"Voice of CA" CA. Sanjay 'Voice of CA' Agarwal Founder Mob: 9811080342, agarwal.s.ca@gmail.com CA. Sidharth Jain, Co-Moderator sidhjasso@yahoo.com CA. Mukesh K Bansal, Co-Moderator-FEMA mukbansal80@gmail.com
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