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Saudi Arabia imposes temporary visa ban on 14 countries, including PakistanUK protests against Israel detaining two British lawmakersGovt to set up dedicated startup India desk for budding entrepreneursDelhi Govt takes stern action against steep fee hike by private schoolsUK MP Dan Norris arrested for alleged child sex offencesIndian-American country judge nabbed on money-laundering chargesAustralia pledges 2.3 bn Australian dollar to enable households buy solar batteriesIndia, Lanka sign MoU on defence cooperationCX - Mere interconnection under Income Tax law does not establish a related party transaction under Central Excise law, thereby invalidating department's demand for duty at 110% of production cost: CESTATOwaisi moves SC against Waqf Amendment ActNo TDS to be deducted u/s 194EE on payments u/s 80CCAST - Removal of smart cards for pairing with set-top boxes (STBs) constituted job work under Rule 4(5)(a) of CCR, 2004 and thus, reversal of CENVAT credit is not required: CESTATCBIC issues AGT orders of 229 Jcs / ADCs + 308 ACs / DCs + 177 Pr Commissioners / Commissioners + 12 Pr CCs & CCsST - Activity of serving as intermediary between foreign entities & Indian customers, qualifies as export of services; commissions earned by assessee will not attract Service Tax levy: CESTATKessler Syndrome: Over 1200 objects of space debris banged into earth in 2024CX - Valuation - Specifications meant for guidance purposes per se differ from detailed engineering drawings; only the latter is to be included in assessable value: CESTATTrump grants another 75-day to TikTok to find Chinese buyerEU fears Trump beer tariffs may cost one lakh jobsTrump tosses out National Security Agency DirectorBudget Session of Parliament adjourns sine-die; 16 Bills passedHamas says Israeli offensive in Gaza is fatal for hostagesEuropean Commission votes to freeze existing sustainability rules to compete with China and USParliament passes Protection of Interest in Aircraft Objects Bill, 2025US economy adds 2.28 lakh jobs in March monthI-T - Provisions of section 50C are equally applicable to asset forming block of asset as well: ITATChina retaliates; imposes 34% tariffs on American goods

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Ease or Dis-Ease of Doing Business in India?


We live on hopes

For a change this budget contained several taxpayer friendly measures inititiated by Indirect Tax regime. But as the author has said this change in time limit for issue of show cause notice is against the policy of the present government. At this rate a day may come when time limit for issue of show cause notice for all types of short/non payments of tax may be same! From 3 months in the beginning to issue demand notice, we have reached 3 years in the case of Service tax and 2 years in other cases. As mentioned in the article time limit for claiming refund has not been changed. When we note that interest on refund is less than what government pays for its own market borrowings, increase in time limit is double whammy. A timely and well thought out article and I sincerely hope that Board will react positively and keep at least the time limit for filing refund claims and for issue of show cause notice for non evasion cases same.

B S V Murthy

RAJESHKUMAR T R 02/03/2016

 

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