CENTRAL EXCISE Rate of excise duty Education Cess and Secondary & Higher Education Cess leviable on excisable goods fully exempted. Further, standard ad valorem rate of excise duty increased from 12% to 12.5%. Amendments in the Central Excise Act, 1944 1. Section 11A proposed to be amended to provide as follows: (i) category of cases […]
Tax Rates No change in the basic exemption limit and the tax rates of individuals Corporate tax rates proposed to be reduced from 30% to 25% over the next four years, starting from next financial year. The existing rate of tax on Income by way of Royalty and Fees for technical services in case of […]
Proposal outlined by the Union Finance Minister such as Abolishment of Wealth Tax, Rationalization of Corporate Tax Structure, Removing uncertainty over DTC, with clear roadmap for financial discipline and consolidation are the need of the hour. We are also happy that the Government reaffirmed its commitment to introduce GST from April 2016. This will truly revolutionize the indirect tax structure in the Country.
International Institute of Diamond Grading and Research India Private Limited, Surat, India- A new laboratory is added for purpose of certification/ grading of diamonds of 0.25 carats and above under paragraph 4A.2.1 of Foreign Trade Policy, 2009-2014.
Agriculture: Target of 18 per cent of ANBC retained. A sub-target of 8 per cent of ANBC has been recommended for small and marginal farmers to be achieved in a phased manner. More flexibility has been recommended for banks to lend the remaining 10 per cent of the overall agriculture loan target to other farmers, agricultural infrastructure and ancillary activities as defined by the Group. To give a fillip to agri-infrastructure and agri-processing, no caps on loan limits have been stipulated.
The ICSI welcomes the Union Budget – considers it significant facilitator to the Governments’ ‘MAKE IN INDIA’ vision. CS Atul H. Mehta, President, ICSI Welcomes Union Budget 2015-16 and considers it as a significant facilitator to the Governments’ Make in India vision. Meeting the aspirations of various stakeholders, the Budget for the year 2015-16 was […]
In case of unlisted Indian Companies issuing Shares to Non-residents, issue price should not be less than the Fair Value of Shares determined by a Chartered Accountant as per Discounted Free Cash Flow (DCF) Method. This was the stance as per RBI Master Circular No. 15/2013-14 which says Price of fresh shares issued to persons resident outside India under the FDI Scheme, shall be :
