- Tuesday, December 15, 2009, 16:22
- GST
- 3 views
In spite of the optimism shown by Asim Dasgupta, chairman of the empowered committee of state finance ministers, the much-anticipated goods and services tax (GST) is unlikely to be introduced on April 1, 2010. The process of Constitutional amendment to bring the new indirect tax legislation may take another five months. “It will take 5-6 months for the amendment and everything else to fall in place. Besides, wecannot start work on things like IT infrastructure as long..
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- Tuesday, December 8, 2009, 3:43
- Service Tax
- 1,730 views
The Finance Act, 2008 brought some new services under the Service Tax net. One of them is Information Technology Software Service. Inclusion of a new services category — Information Technology Software Services — within the ambit of Service Tax legislation has created confusion among software firms. The levy of this new service along with other services has become effective from 16 May, 2008.
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- Thursday, August 20, 2009, 1:15
- Income Tax
- 60 views
In India, the law is settled that tax avoidance is legal and evasion is not. A taxpayer may create a device to arrange his commercial affairs to minimise his tax liability and its acceptance is based on operation of law. While revenue authorities are entitled to decipher the true meaning of a transaction, they cannot [...]
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- Friday, February 1, 2008, 12:10
- Income Tax Case Laws
- 3 views
Complex tax laws pose problems both in interpretation and implementation. Which is why tax legislation and treaties should be simple and understandable to the common man and those in trade, reasoned Chief Justice Swatanter Kumar of the Bombay High Court when speaking at the International Tax Conference, organised by IFA (International Fiscal Association) India and the OECD (Organisation for Economic Cooperation and Development) , in Mumbai on Wednesday.
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