Goods and Services Tax : Explore works contract services under GST: definition, taxability, rates, valuation rules, and recent notifications. Learn about d...
Income Tax : 1) Capital Gain in respect of Land & Building - Periodicity for long term Capital Gain is 3 years ,now it is reduced to 2 years.-...
Goods and Services Tax : GST is a self-assessed destination based tax i.e., every person who requires to get registered under the Act as per Schedule V is ...
Goods and Services Tax : Eligibility of input tax credit on inputs held in stock and contained in semi-finished and finished goods held in stock: The credi...
Custom Duty, Excise Duty, Service Tax : Basic necessity for a prosperous living for any human being is food, clothing & shelter. Out of these three, food contributes as a...
Explore works contract services under GST: definition, taxability, rates, valuation rules, and recent notifications. Learn about development rights and revenue-sharing agreements.
1) Capital Gain in respect of Land & Building – Periodicity for long term Capital Gain is 3 years ,now it is reduced to 2 years.- Base year shifted form 01.04.1981 to 01.04.2001 for all assets including Immovable property, this will surely reduce the Capital Gain tax.
GST is a self-assessed destination based tax i.e., every person who requires to get registered under the Act as per Schedule V is a taxable person & the tax payable by him will be self-assessed.
Eligibility of input tax credit on inputs held in stock and contained in semi-finished and finished goods held in stock: The credit on inputs held in stock and inputs contained in semi-finished goods and finished goods held in stock is available in the following manner:
Basic necessity for a prosperous living for any human being is food, clothing & shelter. Out of these three, food contributes as a major necessity. Changing lifestyles and appropriate fiscal policies has given a considerable push to the food processing industries. I
As per Sec.66B of Finance Act, introduced w.e.f. 01.07.12 which is the new charging section undr Service Tax Provisions, Service ‘agreed to be provided is also taxable. legally, even entering into a contract for provision of service is a taxable event but, liability to pay the tax will be only on actual provision of service or amount received or invoice raised whichever is earlier, taxability event is given under Point Of Taxation Rules,2012 which is an another part of discussion.
In Union Budget for the year 2000-2001, the Finance Minister changed the valuation concept altogether. Before amendment in Sec. 4 valuation used to be done as per Normal Price basis but after amending the section “Transaction Value” has been taken as base for assessment purpose.
Sale of goods at a price below manufacturing cost & profit now onwards will not be considered as exception to section 4 of C.EX Act,1944 i.e., price is not the sole consideration for sale (Rule 6) Notification.No.20/2014 C.E.(N.T.) date 11.07.14.
Everyone has closely opened their eyes for budget which has announced by our Hon’ble Finance Minister Mr.Arun Jaitley for the F.Y. 2014-15. After hike in railway & oil prices people had not lose there hopes for ‘AACHE DIN’ & budget has also moved towards it to the extent.
Recent Issue under Service Tax-Amnesty Scheme 2013- Whether it can be said that Audit was pending as on 01.03.13, if Audit Para was not determined and/ liability was also not quantified till 01.03.13
