"February, 2016" Archive - Page 5

MVAT- Notification of Nagpur Municipal Corporation under Sch. Entry D-5

No. VAT. 1516/C.R. 39(A)/Taxation-1 (29/02/2016)

Government of Maharashtra hereby notifies with effect from the 1st March 2016, Municipal Corporation of Nagpur and the period as shown in column (2) and column (3), respectively of the Schedule appended herewith, to be area and period covered for the purpose of clause (a) of the said entry 5, namely :—...

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Download Finance Bill 2016-17

Finance Minister Arun Jaitley has Presented Union Finance Budget 2016-17 today. We have uploaded below the Text of Finance Bill 2016-17 for Ready Reference of our Readers.  Download Finance Bill, 2016...

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Notification No. 34/2016-Customs (N.T.) Dated: 29th February, 2016

Notification No. 34/2016-Customs (N.T.) (29/02/2016)

the powers conferred by sub-section (2) of section 14 of the Customs Act, 1962 (52 of 1962), the Central Board of Excise & Customs, being satisfied that it is necessary and expedient so to do, hereby makes the following amendment in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 36/2001...

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Maharashtra VAT: Give bill wise Purchases and Sales

Maharashtra Sales Tax Department has proposed changes in the process and procedures of filing of returns, registration, assessment, appeal and other procedures in the circular issued on 25th February 2016 which is scheduled to be implemented from 1st May 2016. Is it true?...

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Indirect Tax Changes in Budget 2016-2017

Advocate Anandaday Misshra AMLEGALS is pleased to share the highlights of changes and proposals in Union Budget 2016-2017 in Indirect Taxes . The major changes on indirect taxes under this section  as the budget speech of  Shri Arun Jaitley, Finance Minister   today, at 11 a.m ,on 29 Feb 2016 are as below: a. Major Export Boost by...

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Budget 2016-17 Live Update

15% Surcharge on Total Income Exceeding Rs. 1 Crore per Year Excise Duty on Jewellery Hiked. 1% Pollution Cess to be imposed on all Cars Interest on Refund increased to 9% from 6% in case it is related to Delay in giving Appellate order by more than 90 days. e-Assessment in 7 Cities: No face […]...

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Govt. issues guideline to promote online and Card payment

F.No-01/02/201 5-Cy.I (29/02/2016)

Digital transactions are defined as transactions in which the customer authorizes the transfer of money through electronic means, and the funds flow directly from one account to another. These accounts could be held in banks, or with entities/ providers. These transfers could be done through means of cards (debit / credit), mobile wallets...

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A small expectation in Indirect Taxation from Budget 2016

Government today, may unveil the policies and the amendments in the Indirect taxation that are essential for ease of doing business and also paving a way for long pending Goods and Service Tax (GST)....

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How Govt. intends to reduce fraud reporting burden of auditors?

Recently, the Ministry of Corporate Affairs (MCA) amended the Rule 13 of the Companies (Audit and Auditors) Rules, 2014 vide notification no. G.S.R. 972(E). Now, the revised Rule 13 prescribes amount of fraud that should be reported, time-limit and the manner of reporting of fraud....

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Report on Prior Permissions & Regulatory Mechanism

The expert committee was constituted by DIPP to examine the possibility of replacing multiple prior permissions with a pre-existing regulatory mechanism with adequate safeguards. The expert committee has released its 75 Page Report which says Start-ups may be given the special dispensation of complying with labour laws on their own withou...

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