Despite unrest consuming nearly five months of business in the valley last year, the Income Tax department has registered a growth of 27% in its revenue collection in Jammu and Kashmir at Rs 1,197 crore for the fiscal ended March 31, 2011.
Full Article
Below is an extract of significant tax proposals by Bihar, Chhattisgarh, Delhi, Goa, Himachal Pradesh, Jammu and Kashmir, Maharashtra, Meghalaya, Rajasthan and Uttarakhand States in their State Budget announced in March, 2011:
Full Article
According to a notification issued by the government under Jammu and Kashmir Motor Vehicle Taxation Act, 1957, the vehicles carrying passengers to Mata Vaishnodevi Yatra would be charged Rs 2,000 at entry point for a period of 3 days and after that Rs 2,000 will be charged per day.
Full Article
Himachal Pradesh chief minister Prem Kumar Dhumal on Monday said commerce and industry minister Anand Sharma has recommended extending special industrial package to the state up to 2013. Dhumal met Sharma on Monday to lobby for the extension of tax benefits enjoyed by industrial units in the state, which was to expire on March 2010.
Full Article
India may move to a dual Goods and Services Tax (GST) regime next year, but the Cenvat (excise duty) related exemptions, especially area-based ones, will not be withdrawn at one go for ushering in the new tax system. The Finance Ministry is not in favour of doing away with all the Central excise exemptions, numbering about 330, as part of the switchover to the GST regime.
Full Article
The state of Punjab has challenged in the Supreme Court the validity of Union government notification giving concessions in taxes and also providing subsidy to the new as well as existing industries in the states of Jammu and Kashmir, Himachal Pradesh and Uttarakhand. Contending that such concessions provided on selective basis would adversely affect the industrial development of Punjab, the state government prayed for quashing of these notifications as null and void.
Full Article
The foreign agents provide service to the exporters. However the services are provided outside India. They meet the prospective buyer outside India, they promote the products of the exporter outside India. For Service Tax to be leviable and payable, the services must be provided “in India”, except in the state of Jammu & Kashmir.
Full Article
Introduction: This legislation may be termed as one of the rarest legislations in the Indian Legal History which provides for setting out the practical regime of ‘Right to Information’ for Citizens to secure access to information under the control of public authorities and in order to promote transparency & accountability in the working of every public [...]
Full Article