education cess

Introduction:The issue involved in this piece was dealt by us in an earlier article titled “Controversy on Education Cess and Secondary & Higher Education Cess in SS cold rolled Patta/Patti Industries”. Now we are writing another piece discussing the continuing controversy on the issue of inclusion of or non inclusion of Education cess and SHE cess in excise duty under compound levy on SS Patta/patti & Aluminium circles. Full Article

In exercise of the powers conferred by sub-section (1) of section 5A of the Central Excise Act, 1944 (1 of 1944) read with sections 136 and 138 of the Finance Act, 2007 (22 of 2007), the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby exempts all goods specified in the Tenth Schedule to the Finance Act, 2010 (14 of 2010) from the Higher Education Cess leviable thereon under the said sections 136 and 138 of the said Fina.. Full Article

In exercise of the powers conferred by sub-section (1) of section 5A of the Central Excise Act, 1944 (1 of 1944) read with sections 91 and 93 of the Finance (No.2) Act, 2004 (23 of 2004), the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby exempts all goods specified in the Tenth Schedule to the Finance Act,2010 (14 of 2010) from the Education Cess leviable thereon under the said sections 91 and93 of the said Finance (.. Full Article

References have been received from field formations on the issue of levy of Education Cess and higher Education Cess on the Central Excise duty determined under Notification No. 17/2007-CE dated 1-3-2007 under compound levy scheme on S.S. Patta/Patti and Aluminium Circles. Full Article

The government will mop up Rs 1,400 crore (Rs 14 billion) this fiscal by taxing the second installment of arrears due to central government employees, who were awarded increased salaries by the Sixth Pay Commission. The first installment of arrears (representing 40 per cent of the increased pay) was disbursed during financial year 2008-09. Full Article

Based on the aforementioned observation, the CESTAT held that the software imported by Appellant was only modified packaged software and not „Customized Software? and would not be eligible to the exemption under the subject notification, which applies only to the Custom designed software. Hence, CESTAT upheld the impugned order passed by the Commissioner of Customs (Appeals) and rejected the appeal. Full Article

Finance minister made many changes in rules and section related to TDS in his Final budget presented in July 2009 which resulted in change in TDS rates which created confusion on applicability of surcharge and cess on TDS. It also created confusion about the date of applicability of 20% rate of TDS when PAN not given. In his Budget finance minister made most of the provisions applicable from 1st October 2009. We are presenting below the TDS rates from 01st October 2009 t.. Full Article

Undermentioned provisions are applicable for Financial Year 2009-10 (A.Y. 2010-11) and w.e.f. 01.04.2009. 1.      Surcharge: No Surcharge on TDS in case of payment is made to Resident or Domestic Company No Surcharge on TDS in case of payment is made to Non Resident other than Foreign Company 2.5% Surcharge on TDS if the recipient is [...] Full Article