| Certified Facilitation Centres under ACES Project of the CBEC - (11-10-2010) | ||||||||||
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| |  Date: Oct 08, 2010 | Furnishing remitter details in pass book / pass sheet / account statement for credits received by customers through NEFT / NECS / ECS | |
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FIRMS QUALIFYIING FOR MAJOR AUDIT FOR 2010-2011(C & AG) - SEE ATACHMENT
If your body is low on oxygen, your mouth opens wide and tries to suck more in. Yawning is a way to regulate the amount of carbon dioxide and oxygen in your blood. Unfortunately, yawns are nearly impossible to stifle.
Serious eye twitches can be a symptom of neurological disorders, but often there is a more mundane explanation. Common causes for eye twitches include stress, lack of sleep extended staring or eye strain. Before you get frantic, try reducing your stress level, cutting back on caffeine and catching up on sleep.
According to Dr. Plasker, our skin most often gets itchy because of dryness associated with the environment or over-washing. Water and soap can strip skin of its natural oils, thus sapping moisture. Face or body lotion should be able to keep these types of itches under control; also look for body washes and soaps labeled 'moisturizing'. If you still have itchy patches, you may be experiencing an allergic reaction to a chemical, plant, food, animal or drug. See an allergist if the itching is persistent.
If you've frequently got a case of the hiccups, try slowing down when you eat and drink, suggests Dr. Plasker. Doing either too quickly causes your stomach to swell; this irritates your diaphragm, which contracts and causes hiccups. You may also get hiccups in emotional situations or if your body experiences a sudden temperature change. In both of these cases, the hiccups are a result of a glitch in your nerve pathways, which is why a sudden scare - �which might shake up and reset your nerves - �can sometimes end an episode.
Those tiny bumps that cover your skin when you're cold or scared are actually a defense mechanism. Goose bumps occur when the arrector pili, a tiny muscle that connects the hair follicle with skin, contracts and makes the hair stand on end. If you had more hair - �like cavemen did - �the upright hair would trap air to keep you warm or make you look bushier and therefore more threatening to predators.
Sneezes happen when your body is trying to expel an irritant from the nasal cavity. If you have allergies, pollen or pet dander is usually to blame. If you have a cold, your body makes mucus to trap the virus, and sneezing helps force it (and the sickness) out of your body. An over-the-counter allergy or cold medicine helps suppress your reaction to allergens or reduce mucus production, which should prevent sneezing fits.
A cough is another mechanism your body uses to get rid of irritants. There are special cells along your air passage, says Dr. Plasker, that recognize irritants and force them out. Common colds, sinus infections and pneumonia all increase your body's mucus production, which triggers coughing. Smoking and asthma also tend to irritate the cells. To help cut down on chronic coughing, exercise regularly and practice good posture to keep your air passage open.
These sudden, super-painful muscle spasms can be blamed on several things, including dehydration or electrolyte imbalances - �often from strenuous exercise. After a demanding workout or an extra-long run, sip a sports drink to keep your system running smoothly. If you experience this type of cramping, walk around to help relieve the pain.
Shivering, says Dr. Plasker, is full-body muscle twitching. When your temperature drops too low, your body shakes all over in an attempt to generate heat. The only way to cure these kind of shivers is to get your temperature back to 98.6 Degree F.
Ear ringing, or tinnitus, can happen for two reasons. If you have fluid or an infection in your middle ear, you may hear a constant buzz. However, the more common cause is damage to the microscopic ends of your hearing nerves, which often happens when you're exposed to loud noises. To prevent permanent damage (and preserve your hearing), wear earplugs at concerts and sporting events - �or even when you mow the lawn.
As food, liquid and gas move through your digestive tract, your stomach muscles and intestines contract and cause rumbling noises - �borborygmi is the scientific name. Everyone's stomach makes noise during digestion, but if you have extra-loud rumbles, a teaspoon of olive oil or a cup of herbal tea with lemon may help ease them, says Dr. Plasker.
When there's consistent pressure on part of a limb - �like when you sit on your feet or rest your head on an arm - �the pressure squeezes your nerve pathways and scrambles messages sent to your brain. The mixed messages make you lose feeling in the squished body part because your brain has trouble telling it what to do. To prevent a case of pins and needles, avoid sitting or lying in positions that compress your nerves.
If you stand too quickly, suffer a blow to the head or are stricken by a migraine, there's a good chance you'll see stars as blood surges to different parts of your body. Generally these tiny flashes of light will fade in a few seconds. If you see stars for more than a few moments, you could have a tear or tiny clot in your retina, and you should consult a physician immediately.
| Indirect Taxes Committee Invites Suggestions for Pre-Budget Memorandum - 2011 - (30-09-2010) | |||||||
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Finance Minister Releases the First Budget Manual of Union Government
Union Finance Minister Shri Pranab Mukherjee released the first Budget Manual of the Union Government, here today. Releasing the Manual, the Finance Minister said that the Union Budget has evolved over the past six decades to reflect the strength of India's democratic processes in shaping its economy, and has emerged as a crucial tool for Public Finance Management. He said that this Manual is an attempt to bring together the entire Budget related activities and procedures etc. which were hitherto available in a dispersed manner in the form of executive instructions and guidelines . The Manual has been prepared by the Budget Division of the Department of Economic Affairs. Finance Minister Shri Mukherjee congratulated the Division for taking this initiative.
The Finance Minister said Budget Manual is a comprehensive document explaining in detail the procedures and activities connected with the preparation of Budget. Mr Mukherjee said that Budget Manual will serve as a guidance document to the officials involved in Budget making in the Finance Ministry as well as in other Ministries/Departments. He said that it is also expected to act as a good reference document for interested readers and stakeholders. He said that this document is an effort in the direction of fostering greater transparency and better understanding about procedures and systems relating to making of Union Budget.
At the outset, the Manual brings out the Constitutional provisions related to the Budget. It describes the contents of various Budget documents. The Finance Minister said that the Manual also deals with the Organizational aspects, roles and responsibilities of the Parliament, Parliamentary Committees and the responsibilities of various wings of the Executive in the Budget making process. The Union Government's accounting and classification systems have also been explained apart from the working of the Consolidated Fund of India, the Contingency Fund of India and the Public Account of India, the Finance Minister added.
Minister of State for Finance, Shri Namo Narain Meena alongwith the Secretaries of different departments of the Ministry of finance including Finance Secretary, Shri Ashok Chawla, Revenue Secretary, Shri Sunil Mitra, Expenditure Secretary, Smt. Sushma Nath, Secretary, Financial Services, Shri R. Gopalan, Secretary, Disinvestment, Shri Sumit Bose and Chief Economic Advisor, Dr. Kaushik Basu were also present on this occasion among others.
The core sections of the Manual explain the entire chain of activities related to Budget preparation right from the issue of Budget Circular in September to the Budget Day in February, including the processes of estimation of receipts and expenditure, their firming-up and finalization through the Pre-Budget Meetings and their compilation. The comprehensive calendar of Budget related activities, their timelines, details of the related duties and responsibilities of the officers and staff together with the Security and 'Lock-in' procedures have also been brought out. Finally the Manual deals with the Implementation and Reporting of various Budget announcements. There are also a series of Annexes which provide a holistic perspective on the related subjects. An attempt has been made to incorporate all the Budget related issues in the Manual so as to make it a self contained and one stop guidance document.
Text of the Finance Minister's address on the occasion is given below:
"I am pleased to participate in this function to release the Budget Manual for the Union Government. The Budget process of our country predates the Independence and has evolved over the past six decades to reflect the strength of our democratic processes in shaping our economy. It has emerged as a crucial tool for public finance management.
Budget was first introduced on 7th April, 1860, two years after the transfer of Indian administration from East-India Company to British Crown. The first Finance Member, who presented the Budget, was James Wilson. Mr. Liaquat Ali Khan, Member of the Interim Government presented the Budget of 1947-48. After Independence, India's first Finance Minister, Shri Shanmukham Chetty, presented the first budget of independent India on 26th November, 1947.
Toni Morrison, the famous author and winner of the Pulitzer and Nobel Prize for literature, had once stated, I quote-
"If there's a book you really want to read but it hasn't been written yet, then you must write it".
~Toni Morrison
The Union Government Budget Manual is one such book, the need for which has been felt for long. I am happy to note that the Budget Division has brought out this Manual. Large areas of the Budget making procedures and processes have not been in public domain, leading at times to some misinterpretations and conjectures. The Budget Manual will shed such misconceptions. I am sure this Manual will bring about greater transparency and better understanding about the Union Government Budget making procedures and systems.
The Manual attempts to outline the entire chain of events leading to the Union Budget. The purpose of this Budget Manual is to provide guidance and a training tool for the officers and staff engaged in the Budget preparation, not only in the Finance Ministry but in other Ministries/Departments as well.
Finally, I would also like to express my appreciation to the officials of the Finance Ministry for taking this initiative and completing the task of preparing the Union Government Budget Manual.
With these words I would now like to release the Budget Manual for the Union Government.
--
Best Wishes
CA. V.M.V.SUBBA RAO
Chartered Accountant
Door No.24-2-1885,
I Floor, Flat No.5,
Siddivinayaka Residency, I Cross,
Central Avenue, MSR Nagar,
Magunta Layout,
Nellore-524 003
Andhra Pradesh
India
Mobile:+91 - 0 9390221100
+91 - 0 9440278412
e-Mail: vmvsr@rediffmail.com
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http://pdicai.org/MyPage/203038.aspx
Please note that CENVAT CREDIT is available on Components, Spares and Accessories of Motor Vehicles, DUMPERS & TIPPERS as per CBEC Notification No.29/2010 dt.24-09-2010.
In exercise of the powers conferred by section 37 of the Central Excise act, 1944 (1 of 1944) and section 94 of the Finance Act, 1994 (32 of 1994), the central Government hereby makes the following rules further to amend the CENVAT Credit Rules, 2004, namely : –
1. (1) These rules may be called the CENVAT Credit (Fifth Amendment) Rules, 2010.
(2) They shall come into force on the date of their publication in the Official Gazette.
2. In the CENVAT Credit Rules, 2004, in rule 2, in clause (a), after sub-clause (C), the following sub-clause shall be inserted, namely : –
"(D) components, spares and accessories of motor vehicles, dumpers or tippers, as the case may be, used to provide taxable services as specified in sub-clauses (B) and (C);"
Johnny and Service Tax Refund [Series- II]
Part 1: `INVOICE'
Prepared By: -
CA. Pradeep Jain
Mayank Palgauta
We have already written one complete series of articles for the refund of service tax to exporters under notification no. 41/2007-ST. The litigation on the same is still going on. The Government has come up with the new notification no. 17/2009-ST dated 7th July, 2009 to make the scheme simple so that the refund is available to the exporters conveniently. But there is no sign of relief for the exporters. They are still struggling to get the refund from the department. With this second series of the articles, an effort has been made to bring out the misery of exporters. This also brings out the present situation existing in the refund structure mechanism under Service tax. This state of affair also is elaborated with the means of poems and conversation between Johnny (an assessee) and his father.
Johnny and Jill went up the hill, to get the refund order
Johnny came back with a lack
And Jill came hopeless after.
Today, in the present scenario also, the poor exporter is still facing enormous difficulty in getting refund orders as stated in the lines above. There is no radical change has taken place even after the change of total scheme by the Government. The refund claims are the Right of the exporters but the department is rejecting these claims on various grounds which are of trivial importance. This resulted in frustration and skepticism among exporters as regards the Refund mechanism. The one of the conditions relating to INVOICE on which the department is rejecting the refund claim on various services mentioned in the Notification No. 17/2009-ST dated 7th July, 2009 (herein after referred to as said notification) are highlighted here by means of poetic conversation: -
Johnny-Johnny! Yes papa!
Got the refund?
No Papa,
Telling lies?
No Papa,
What's the reason?
This papa: -
Johnny says: I went to department to get the refund on various invoices issued by service providers under said notification but department said: -
Johnny-Johnny go away,
Come again another day.
Your refund order has following Flay: -
In relation to refund claim filed by the exporters, they require the original invoices. It is told to them that the original invoices are required by various departments. Hence the same cannot be given to you. But the department is saying that it is condition of the notification and it cannot be relaxed. We said that we can show the same to you and you compare the same with Xerox copies given by us to you along with refund claim. Then give the same back to us per bearer. But they did not agree. They say that the condition has been imposed so that the double refund claim is not taken by you on the same invoice. We have told that you can put a seal on these original invoices saying that the refund is claimed, not to be used again. But they did not agree and told that it is condition precedent for claiming the refund that the original invoices should be submitted with us. We were helpless and submitted the original invoices. We were hopeful of getting the refund thereafter. But we were not aware of the fact that we are dealing with revenue department who can collect the crores of rupees but cannot give small refund claim. The second objection was raised by them
Johnny-Johnny! Yes papa!
Got the refund?
No Papa,
Telling lies?
No Papa,
What's the reason?
This papa: -
Johnny says: I went to department to get the refund on various invoices issued by service providers under said notification but department said: -
Johnny-Johnny go away,
Come again another day.
Your refund order has following Flay: -
All the original Invoices issued by a service providers like Custom House Agent for CHA services or by a Cleaning and Forwarding Agent for cleaning and forwarding services should have certificate as mentioned the notification 17/2009. In this endorsement the assessee has to certify that the services mentioned in the invoices have issued to the assessee; the service tax has been paid thereon by the assessee and said services have been utilized in export of goods under the particular shipping bill no. and its date. We have told them that we have made a rubber stamp of this certificate and put it on Xerox copy of the invoice. But they said that the same should be put on the original invoice. We have told that the original invoice is required by many department and auditors. Hence, we will use them for various purposes after the same is returned to us. But they did not agree and told that the same should be put on the original invoice. We have no option but to agree their demand. After the seal was put on original invoice, we asked for the refund. But the department came with the next arrow. He has told that you have written in rubber stamp the category of service, shipping bill number and date is as per table annexed to refund claim. But the shipping bill number, category of service should be mentioned on the invoice only. We have learnt from past experience that we have no option before the department but to abide by the things as told to us. Hence, we followed their instructions and corrected all the invoices in the hope of service tax refund claim. The assessee submits that the reference of all the Shipping Bills and its date has already given in tabular form with refund claim application. Thus the demand of mentioning the reference of the same in each and every invoice of the service providers has ridiculous point.
Johnny says: I went to the department next day again with the corrections but department rejected saying: -
Johnny-Johnny go away,
You won't get refund anyway.
It has following more flay: -
The invoices of various service providers have not prepared under Rule 4A of Service Tax Rules, 1994 as many of invoices are not serially numbered; some invoices do not have the Service tax Registration no. of service providers and some of them are not having the description of service provided during the course of Export of goods. Even the same is not mentioned in the table annexed to the refund claim. Furthermore, the same is not mentioned in certificate endorsed on the face of invoice. We pleaded that when the service provider has not mentioned the above details in his invoices then how we can know the above information like under which category the service provider is providing the services. Further, we argued that since these mistakes have not done on our part, the refund should not be denied on these ridiculous grounds which are beyond the control of the assessee.
Unrewarding again & again;
Johnny now in grief and pain!
`Refund Order' now a dream;
His efforts have downstream!
Johnny's contention:-
To fulfillment of the condition of submitting ORIGINAL INVOICES to the department, we have produced all the ORIGINAL invoices of all the service providers at the time of refund but these have not come back to the our custody as the department contending that they will keep them for the purpose of refund claim. They contend that even after the refund is sanctioned or rejected then the file will go for audit and the department has to send the original invoices to audit wing or review wing. Thereafter, if the appeal is filed then they will keep the invoices with them.
Seeing these erroneous interruptions, obstacles and arguments taken by the department, the exporter-assessee wants to say one sentence to the Government that "HATHI KE DANTH KHAANE KE AUR, DIKHAANE KE AUR" because on one point the Board is issuing the exemption notifications for promoting the Export of goods outside India and on the other side Revenue department is not happy to sanction the refund claim.
At the end all the exporters, whose refund claim is under evolution from extensive time period, raise one question that why the Finance Minister is not exempting the exporters from payment of service tax itself in order to remove these types of silly troubles which became a big barrier thereafter. They require straight forward exemption rather than exemption by way of refund.
By this humorous and poetic article above we conclude that the physical condition and mental state of assesses claiming refunds against export of goods is similar to that of Johnny in the poem. Every time the assessee is approaching the department his refund claims are being rejected on some or the other flaws. He has to return fruitless, hopeless with his futile efforts thinking whether he will be getting the refund or not.
There are a number of services on which the refund is allowed. The assessee is facing difficulty in almost all of those services due to attached conditions with each service. Due to the large number of conditions we were not able to cover all the conditions in this article and hence we will be bringing further articles on the different conditions covered therein.
Keep visiting for the next article……..
Due date for filing returns for AY 2010-11 extended from 30/9/2010 to 15/10/2010
Order [F.NO. 225/72/2010/ITA.II], dated 27-9-2010
On consideration of the reports of disturbance of general life caused due to floods and heavy rains, the Central Board of Direct Taxes, in exercise of powers conferred under section 119 of the Income Tax Act, 1961, hereby extends the due date of filing of returns of income for the Assessment Year 2010-11 from 30-09-2010 to 15th October 2010. Accordingly the due date for Tax Audit report u/s 44AB of the Income Tax Act is also extended to 15th October 2010.
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| Date : 23 Sep 2010 | |
| A Profile of Banks 2009-10 | |
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