Corporate Updates – 12-02-2016


The Ministry had set-up a Committee to examine and recommend matter for inclusion in the statement to be attached with Auditor’s Report under Section 143(11) of the Companies Act, 2013 for the financial year 2015-16 onwards. The said Committee has since made recommendations in the matter. The caro. It is requested that the name, Telephone number and address of the sender should be indicated clearly at the time of sending suggestions/comments.

CBEC – Service Tax:

CBEC has amended notification No. 12/2013- ST, dated the 1st July, 2013 so as to allow refund of Swachh Bharat Cess paid on specified services used in an SEZ. The SEZ Unit or the Developer shall be entitled to refund of the Swachh Bharat Cess paid on the specified services on which ab-initio exemption is admissible but not claimed; and the refund of amount as determined by multiplying total service tax distributed to it in terms of clause (a) by effective rate of Swachh Bharat Cess and dividing the product by rate of service tax specified in section 66B of the Finance Act, 1994.

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