Registration of a manufacturer will be cancelled automatically if excise duty returns are not filed for six months, as per the latest government proposal. In case of a service provider, the registration will be cancelled automatically if return is not filed for 12 months, said the draft of the common excise duty and service tax form on which the Revenue Department has sought comments from stakeholders by April 30.

Finance Minister Pranab Mukherjee today said that persons investing in stock markets through participatory notes, P-Notes, will not have to pay taxes in India. The assurance pushed up the stock market today. He told reporters in New Delhi that the Minister said, the income tax department would examine the tax liability of the FIIs.

Rate of Service Tax, Introduction of Negative List approach, Changes in Valuation Rules, CENVAT Credit Rules, Retrospective changes, Point of Taxation, Small Service Providers(SSI), Changes With respect to Appeals, Change in Rate of Taxable Portion , Reverse charge provisions, Change in Rate of Taxable Portion as per Notification No 13/2012

The government on Sunday said it has no vindictive intention in retrospectively amending tax laws and has no plans to re-open a large number of old cases, while assuring India Inc that the I-T department will not act like a policeman

Last year I provided relief to individual taxpayers by enhancing the exemption limit as a move towards DTC rates. Although DTC will not be effective from this year, I propose to introduce the DTC rates for personal income tax. I propose to enhance the exemption limit for the general category of individual taxpayers from `1,80,000 to `2,00,000.

Master Form-16 New FY 11-12 for Up to 100 Employees. Download File to Prepare Form 16 of upto 25 Employees with Indian Rupee Font.

Worried over the impact of global financial turmoil on the economy, India Inc today asked the finance ministry to retain tax rates at existing levels, but increase exemption limits to promote growth. In their customary pre-Budget meeting with finance minister Pranab Mukherjee, industry leaders also demanded that healthcare services should be kept outside the ambit of service tax and minimum alternate tax (MAT) be rationalised.

Faced with a formidable task of collecting Rs 9.32 lakh crore taxes during the fiscal ending March 31, Finance Minister Pranab Mukherjee today said he is exerting pressure on revenue officials to improve realisation.

The Union Finance Minister Shri Pranab Mukherjee said that the modern customs administration should function on the principles of transparency, predictability, strong legal processes and productive use of information technology to serve the stake holders efficiently and to enhance the competitiveness of Indian business. The Finance Minister, Shri Mukherjee was addressing the retired and serving officers of Customs and Central Excise, representatives of trade and industry and senior officers of the Ministry of Finance at a function organized, here today to celebrate “50 years of the Customs Act 1962

Government went into a huddle following a far-reaching Supreme Court judgement in the Vodafone case having revenue implications of about Rs 11,000 crore.Immediately after pronouncement of the SC ruling, Finance Minister Pranab Mukherjee and Law Minister Salman Khurshid held consultations on the issue. Cabinet Secretary Ajit Kumar Seth too called on the Finance Minister.