CBIC inserted new rule 32A which deals with the value of supply in cases where the Kerala Flood Cess is applicable. The present article highlights the basic provisions of ‘Kerala Flood Cess’ and explains the impact of the newly inserted rule 32A.
He claims that he has studied eights subjects of Mathematics (Mathematics I, Mathematics II, Mathematics III, Mathematics IV, Mathematics V, Mathematics VI, Mathematics VII, and Mathematics VIII), and since civil engineering includes mathematics, he has studied eight civil engineering subjects. Further, most of the Engineering Courses have some common foundational subjects such as English, Mathematics, […]
Detailed analysis of changes in rates of Central Excise & Custom – Union Budget 2019. In Union Budget 2019-20, the Finance Minister has introduced the Finance (No.2) Bill, 2019 in Lok Sabha on July 05, 2019. The following are the gist of the notifications which makes amendment in Customs and Central Excise with effect from July 06, 2019 […]
Amendments carried out through the Finance (No. 2) Bill, 2019 come into effect on the date of its enactment, unless otherwise specified. Amendments carried out in the Finance Bill, 2019 will come into effect from the date when the same will be notified, concurrently with the corresponding amendments to the Acts passed earlier by the […]
Proposed Amendment in the Customs Act, 1962 and Service Tax – Union Budget 2019 The legislative changes would come into effect only upon the enactment of the Finance (No. 2) Bill, 2019. Proposed Amendment in the Customs Act, 1962 Current provisions Proposed provisions Effect Section – 41 (Delivery of departure manifest or export manifest or […]
Ms. Nirmala Sitharaman today presented the full budget of 1st Year of 2nd term of Modi Government amid subdued economic growth and challenging fiscal situation. Taking into consideration, the need of time, with a vision to become $5 trillion economy by 2025, various sectors including social sectors were generously rewarded in this Budget. Inter-alia few areas like […]
Post the 35th GST Council meeting at New Delhi on 21st June 2019, notifications and circulars have been issued by CBIC to implement the decisions taken by the GST Council. The summary of such Notifications, Circular and Order has been enumerated under below sections. 1. Treatment of Secondary or Post Sales Discount (Circular No 105/24/2019-GST […]
The Union Finance minister Mrs. Nirmala Sitharaman in her maiden budget speech has shown that the NDA Government led by Hon’ble Prime Minister Mr. Narendra Modi is focussing on boosting investments to bring the economy back on track. One of her biggest challenges is to revive growth in some key sectors apart from introducing measures […]
First full-time woman Finance Minister Nirmala Sitharaman presented her maiden Union Budget of Modi 2.0 Government on Friday 05/07/2019. Following are the taxation related key takeaways from Union Budget 2019- Part A: Indirect Tax A simplified single monthly return for taxpayers with an annual turnover of less than Rs 5 crore to file only quarterly returns; […]
The Union Minister for Finance and Corporate Affairs Smt. Nirmala Sitharaman made her maiden Budget Speech today and presented the Union Budget 2019-20 before the Parliament. The Thirteen practical Important highlights of Union Budget 2019 are as follows: 1. TDS on payment by Individual/HUF to contractors and professionals Section 194M levy of Tax Deduction at […]
