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[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (i)] GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF REVENUE Notification No. 15/2013 – Central Excise (N.T.) New Delhi, the 22 nd  November, 2013 01,  Agrahayan  1935  Saka G.S.R. (E). - In exercise of the powers conferred by section 37 of the Central Excise Act, 1944 (1 of 1944), the Central Government hereby makes the following rules to further amend the Central Excise Rules, 2002, namely:- 1. (1)    These  rules may be called the Central Excise (Second Amendment) Rules, 2013.     (2)   They shall come into force with effect from the 1st day of January, 2014. 2.   In the Central Excise Rules, 2002, in rule 8, in sub-rule (1), in the third proviso, for the words  “rupees ten lakh”,  the words “rupees one lakh” shall be substituted. F. No. 201/02/2013-CX.6 ( P...

ST: Requirement of taking "reasonable steps" does not mean that assessee is required to verify from department whether duty stands paid by supplier because that would be practically impossible and would lead to transactions getting delayed; therefore, assessee is entitled to credit even if supplier has not paid duty to department ■■■ [2013] 38 taxmann.com 336 (SC) SUPREME COURT OF INDIA Commissioner of Central Excise, Jalandhar v. Kay Kay Industries * ANIL R. DAVE AND DIPAK MISRA, JJ. Civil Appeal Nos. 7031, 7032 & 7034 of 2009, 7392 & 7393 of 2010 & 7148 of 2013 AUGUST  26, 2013  Rule 9, read with rule 13, of the Cenvat Credit Rules, 2004 read with rule 57A of the Central Excise Rules, 1944 - CENVAT Credit - Documents on which credit may be taken - Period from 1-1-2000 to 31-3-2000 - Assessee took deemed Modvat Credit Notification No. 58/97-CE(NT) on basis of invoices issued by supplier of inputs but, on verification, it was found that suppl...

Non-applicability of Companies Act, 2013 for May 2014, CA Examinations 18th November, 2013 Important Announcement Attention: Intermediate (IPC) and Final Course students Non-applicability of Companies Act, 2013 for May 2014, Examinations This is to bring to the notice of students that the Companies Act, 2013 notified in the Official Gazette on 30th August, 2013 (with partial enforcement of only 98 sections of the Companies Act, 2013 from 12th September, 2013) shall not be applica ble for May 2014 examinations both at the Intermediate (IPC) and Final levels. The examinations will be based only on the existing syllabus. Director, Board of Studies Source – ICAI Click Here to know more Tags:  ICAI Sandeep Kanoi  

CONCEPT OF CASH SHORT IN BOOKS OF ACCOUNTS                 Concept of Cash Short in Books of Accounts (  AN EFFECTIVE TOOL FOR TAX PLANNING) It’s Very Funny to Call it a Concept. In Reality, you will not find any concept of cash shortage in accounts or finance books. But still, I am sure that you may have listened, sometimes in your office or somewhere else that this party (client) has a cash short of Rs ………… blaw … blaw …. blaw …. or you may have listened your seniors to talk with client “ Arey Sir mar Jayenge, books main cash Short Pad raha hai, cash withdrawal karo” . So what is    Cash Short?.    Cash Short is a tool used for tax planning or it would be appropriate to call it as a tool to manage profits of a firm or a company or any association. It can be used in any kind of organizations. We can use this technique to manage our Profits or to avoid hefty amount of tax payable on profit...