"17 February 2014" Archive

Amends Notification No. 40/2012-Customs (N.T.), Dated: 02.05.2012

Notification No. 12/2014-Customs (N.T.) (17/02/2014)

In exercise of the powers conferred by clause (34) of section 2 of the Customs Act,1962 (52 of 1962), the Central Board of Excise and Customs hereby makes the following further amendments in the notification of the Government of India in the Ministry of ...

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Budget 2014 – No Definitive Timelines for GST and DTC

The two most awaited mega tax reforms, the introduction of a comprehensive Goods and Services Tax (GST) in lieu of multiple indirect taxes and the Direct Tax Code (DTC), have been on the anvil for some time. The Interim Budget 2014 has not spelt out any definitive timeline for introduction of GST and DTC but only requested the political p...

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Posted Under: Custom Duty |

Budget 2014 – Car and Mobile to get Cheaper

Relief to The Manufacturing Sector; Cars and Scooters to be Cheaper Excise Duty on Mobile Handsets to be Restructured The Union Finance Minister, Shri P. Chidambaram has announced some changes in Indirect Tax Rates. Presenting the Interim Budget 2014-15 here in Parliament today, he said that keeping with the conventions, he does not propo...

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Posted Under: Custom Duty |

Download Finance Bill / Budget 2014

Finance Minister P. Chidambram has presented today the Interim Union Finance Budget for F.Y. 2014-15.  No Changes been proposed by the FM on Direct tax Front and provides the tax rates applicable for Financial Year Year 2014-15. Download Finance Bill / Budget 2014...

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Posted Under: Custom Duty |

Interim Budget 2014-2015 – Speech of P. Chidambaram , Minister of Finance

Interim Budget  2014-2015 – Speech  of –P. Chidambaram- Minister of Finance-  February 17, 2014 Madam Speaker, INTRODUCTION             I rise to present the Interim Budget for 2014-15. The Current Economic Situation 2.         As I prepared to write this speech, I found that whether it is a regular Budge...

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Posted Under: Custom Duty |

Major Highlights of Interim Finance Budget 2014 on tax front

The Excise Duty on all goods falling under Chapter 84 & 85 of the Schedule to the Central Excise Tariff Act is reduced from 12 percent to 10 percent for the period upto 30.06.20 14. The rates can be reviewed at the time of regular Budget. To give relief to the Automobile Industry, which is registering unprecended negative growth, t...

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Posted Under: Custom Duty |

DTC to be put on the website of the ministry for public discussion

Direct Taxes Code (DTC) to be put on the website of the ministry for public discussion Direct Taxes Code (DTC) will be put on the website of the Ministry of Finance for a public discussion without partisanship or acrimony. This was stated by the Finance Minister, Shri P. Chidambaram while presenting Interim Budget 2014-15 in […]...

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Posted Under: Custom Duty |

Notification Exempting Services related to ‘Rice’ and Services provided by cord blood banks

Notification No. 04/2014-Service Tax (17/02/2014)

Addition to Mega Exemption Notification - 2A. Services provided by cord blood banks by way of preservation of stem cells or any other service in relation to such preservation. 40. Services by way of loading, unloading, packing, storage or warehousing of rice...

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Rice- No Service Tax on Transportation, Loading, unloading, packing, warehousing and Milling of paddy into rice

Circular No.177/03/2014 – ST (17/02/2014)

Services Related to Transportation of rice by a rail or a vessel or by goods transport agency, services related to Loading, unloading, packing, storage and warehousing of rice and services for Milling of paddy into rice are exempt from service tax....

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Notification reducing excise duty on Motor Car and Mobile Handset

Notification No. 04/2014-Central Excise (17/02/2014)

Provided that nothing contained in this notification shall apply to the goods specified against serial number 296 and 297 of the said Table after the 31st day of March, 201...

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