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Budget 2011- Summary of Chapter wise Changes in Custom Duty

Custom Duty : As a measure of rationalization of duty structure the rates of 2% and 3% are being unified with the median rate of 2.5%. According...

March 1, 2011 2225 Views 0 comment Print

Budget 2011- What's costlier, cheaper?

Finance : Finance Minister Pranab Mukherjee presented the Union Budget 2011-12 in Parliament on Monday. While the finance minister made the ...

February 28, 2011 526 Views 0 comment Print

Budget 2010 simplified Export of Service Rules (Export Rules)

Service Tax : The primary reason is the simplification of the Export of Service Rules (Export Rules). The Export Rules prescribe the conditions ...

March 10, 2010 1821 Views 0 comment Print

Need Cautious Real Estate

Finance : Recessions have affected mostly the real estate business. Slowing demand and sudden evaporation of liquidity position made the sit...

March 9, 2010 267 Views 0 comment Print

Budget 2010-11: Tax proposals to hit Indian Companies in Financial Year 2010-11

Income Tax : Manufacturing companies will have to shell out an additional Rs 25,500 crore on 2 per cent increase excise duty for the financial ...

February 27, 2010 1075 Views 0 comment Print


Latest News


Govt to come out with negative list of service tax soon

Service Tax : The government will come out with a draft 'negative list' for service tax in two weeks, meaning services which are not mentioned i...

July 6, 2011 2808 Views 0 comment Print

Govt committed to achieve 2011-12 fiscal targets – FM

Finance : Buoyed by better-than-expected performance on government finances' front in 2010-11, the Centre on Thursday said it will keep a ta...

June 2, 2011 420 Views 0 comment Print

Budget 2011 -Service tax on Healthcare and Excise Duty on Readymade Garments

Service Tax : Breaking News Budget 2011 Related to Service tax on Healthcare and Excise Duty on Readymade Garments. 1) Abatement on readymade ga...

March 22, 2011 402 Views 0 comment Print

Budget 2011-12- How govt earns and spends its rupee

Finance : In a good sign, the government will depend less on borrowing to finance budgetary proposals in 2011-12 than in the ongoing 2010-11...

March 1, 2011 1013 Views 0 comment Print

Union Budget 2011-12 Summary as Provided by Finance Ministry

Finance : The Union Budget 2011-12 aims to sustain economic growth, strengthen infrastructure, moderate the price rise, particularly of agri...

March 1, 2011 844 Views 0 comment Print


Latest Posts in budget 2011

Govt to come out with negative list of service tax soon

July 6, 2011 2808 Views 0 comment Print

The government will come out with a draft ‘negative list’ for service tax in two weeks, meaning services which are not mentioned in it would be taxed under the proposed GST regime. The draft paper (on negative list of services) is nearly ready and you should see this paper in two weeks, Joint Secretary in the Ministry of Finance, V K Garg, told PTI.

Govt committed to achieve 2011-12 fiscal targets – FM

June 2, 2011 420 Views 0 comment Print

Buoyed by better-than-expected performance on government finances’ front in 2010-11, the Centre on Thursday said it will keep a tab on public expenditure to ensure that Budget targets for this fiscal too are achieved. Efforts to get the economy on the path of fiscal prudence are on track… The government is committed to achieve the fiscal targets, an official statement quoting finance minister Pranab Mukherjee at a meeting of Consultative Committee held on Wednesday said.

Budget 2011 -Service tax on Healthcare and Excise Duty on Readymade Garments

March 22, 2011 402 Views 0 comment Print

Breaking News Budget 2011 Related to Service tax on Healthcare and Excise Duty on Readymade Garments. 1) Abatement on readymade garments increased from 40% to 55%. 2) Service tax on Health care services withdrawn

Mistakes in Budget Bulletins, 2011 related to Custom Duty, Central Excise and Service Tax

March 10, 2011 1803 Views 0 comment Print

Consequent upon the printing and publishing of the Budget Bulletins, 2011 (both Customs and Central Excise & Service Tax), the Directorate of Publicity and Public Relations has subsequently been informed that the following corrections are required to be incorporated in the above said Budget Bulletins, 2011.

Budget 2011- Summary of Chapter wise Changes in Custom Duty

March 1, 2011 2225 Views 0 comment Print

As a measure of rationalization of duty structure the rates of 2% and 3% are being unified with the median rate of 2.5%. Accordingly basic customs duty on all goods currently attracting 2% has been increased to 2.5% and basic customs duty on those goods attracting 3% has been decreased to 2.5%.(S. No. 1 & 2 of Notification No. 21/2011-Cus dated the 1st March 2011 refers)

Budget 2011-12- How govt earns and spends its rupee

March 1, 2011 1013 Views 0 comment Print

In a good sign, the government will depend less on borrowing to finance budgetary proposals in 2011-12 than in the ongoing 2010-11 financial year.Borrowings will comprise 27 paise out every rupee that the government plans to spend in 2011-12, compared to 29 paise in the current financial year, as per the proposals presented by Finance Minister Pranab Mukherjee in Parliament on Monday.

Union Budget 2011-12 Summary as Provided by Finance Ministry

March 1, 2011 844 Views 0 comment Print

The Union Budget 2011-12 aims to sustain economic growth, strengthen infrastructure, moderate the price rise, particularly of agricultural produce and reduce social imbalances through inclusive development. Presenting the budget 2011-12 in the Lok Sabha today, the Finance Minister Shri Pranab Mukherjee said that the budget is a transition towards a more transparent and result oriented economic management system in India. He said while developments on India’s external sector have been encouraging, continued high food prices have remained our principal concern. He said that the trend revealed shortcomings in distribution and marketing system. The Finance Minister said that huge differences between wholesale and retail prices are at the expense of remunerative prices for the farmers and competitive prices for consumers.

Budget 2011-12- Service Tax Provisions to be Rationalised

March 1, 2011 3132 Views 0 comment Print

Union Budget 2011-12 estimates to make net revenue gain of Rs. 4000 crore for the year by way of new Service Tax proposals. In keeping with thrust to encourage voluntary compliance, the penal provisions of Service Tax are under the process of rationalization. This will ensure less harsh treatment to those who have maintained truthful records but fallen short of discharging their tax liability.

Budget 2011-12 Provides higher incentives for Micro, Small and Medium Enterprises

March 1, 2011 1013 Views 0 comment Print

Union Finance Minister Sh. Pranab Mukherjee has announced various incentives for micro, small and medium enterprises while presenting this year’s union budget. The allotment to SIDBI for refinancing incremental lending by banks to these enterprises has been raised from Rs. 4000 Crore to Rs. 5000 Crore.

Budget 2011-12 – Relief from audit to Service tax Payers

March 1, 2011 501 Views 0 comment Print

Union Finance Minister Sh. Pranab Mukherjee has proposed to free all individual and sole proprietor service tax payers with a turn over to Rs. 60 lakh from the formalities of the audit. It has been observed that the number of assesses in service tax has grown manifold and a large number of them comprise individuals or sole proprietors with small turnovers.

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