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ICAI President’s Message – February 2018

February 1, 2018 948 Views 0 comment Print

As you may be aware, World Bank’s Global Economic Prospects has estimated that India is likely to regain the position as the fastest growing economy in 2018 with growth expected to accelerate to 7.3 per cent in the year. For 2017

Budget 2018: Income Tax, Service Tax, Custom & Excise Duty Changes Analysis

February 1, 2018 48189 Views 3 comments Print

Article Analyses Finance Bill, 2018- Provisions Relating To Direct Taxes, Amendments In The Customs Act, 1962, Amendments In The Customs Tariff Act, 1975, Amendments In The First And Second Schedule To The Customs Tariff Act, 1975, Other Proposals Involving Changes In Basic Customs Duty Rates, Proposals Involving Change In Excise Duty Rates And Service Tax Changes.

Budget 2018 Exhaustive Analysis of Changes in Excise Duty

February 1, 2018 21147 Views 2 comments Print

Chapter 24: No change. Chapter 27: 1) A Road and Infrastructure Cess, as an Additional Duty of Excise, is being imposed on motor spirit commonly known as petrol and high speed diesel, falling under heading 2710, at the rate of Rs. 8 per litre. [Clause 110 read with the Sixth Schedule of the Finance Bill, […]

Budget 2018 Exhaustive Analysis of Changes in Custom Duty

February 1, 2018 39801 Views 5 comments Print

The Finance Minister has introduced the Finance Bill, 2018 in Lok Sabha today, that is, 1st February, 2018. Changes in Customs and Central Excise law and rates of duty have been proposed through the Finance Bill, 2018.

Budget at a Glance 2018-19

February 1, 2018 19209 Views 0 comment Print

Budget at a Glance presents broad aggregates of the Budget in a reader-friendly document. This document shows receipts and expenditure as well as the Fiscal Deficit (FD), Revenue Deficit (RD), Effective Revenue Deficit (ERD), and the Primary Deficit (PD). of the Government of India

Corrigendum to Notification No. 6/2018-UTT (Rate), dated 25.01.2018

February 1, 2018 804 Views 0 comment Print

G.S.R. 108(E).—In the notification of the Government of India, Ministry of Finance (Department of Revenue), No. 6/2018-Union territory Tax (Rate), dated the 25th January, 2018, published in the Gazette of India

Corrigendum to Notification No. 7/2018-IGST (Rate), dated 25.01.2018

February 1, 2018 2760 Views 0 comment Print

G.S.R. 107(E).— In the notification of the Government of India, Ministry of Finance (Department of Revenue), No.7/2018-Integrated Tax (Rate), dated the 25th January, 2018, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 84(E), dated the 25th January, 2018

Corrigendum to Notification No. 6/2018-Central Tax (Rate) dated 25.01.2018

February 1, 2018 3093 Views 0 comment Print

G.S.R. 106(E).— In the notification of the Government of India, Ministry of Finance (Department of Revenue), No.6/2018-Central Tax (Rate), dated the 25th January, 2018, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 80(E), dated the 25th January, 2018

Notification No. 10/2018-Customs (N.T.), Dated: 31.01.2018

January 31, 2018 2712 Views 0 comment Print

Notification No. 10/2018-Customs (N.T.), Dated: 31.01.2018- Tariff Notification in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seeds, Areca Nut, Gold and Sliver- Reg

No excise duty on fatty acids, Wax & gum emerging during manufacture of refined vegetable oil

January 30, 2018 2568 Views 0 comment Print

The Central Excise Division Bench of the Tribunal while considering the appeals Nos. 653/2012 and 3585/2012 filed by M/s Ricela Health Foods Ltd. and M/s J.V.L. Agro Industrial Ltd., noticing conflicting judgments of two coordinate benches on the same dispute

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