Finance : Taxation is an important aspect of any country's economic structure, and India is no exception. India adopts a well-organized taxa...
CA, CS, CMA : Goods and Services Tax (GST) Notifications and Circulars Requirement of GST audit and reconciliation statement by professionals re...
CA, CS, CMA : DIRECT TAXES UPDATES Recent circulars/ notifications/ rules/ clarifications/News ♦ CBDT Notified Income Tax Rule 8AC so as to pr...
Goods and Services Tax : The Union Budget for financial year 2021-22 has been laid in Parliament on 1st February, 2021 by the Finance Minister. The Budget ...
Goods and Services Tax : Notification No. 28 /2017 – Central Tax, dated- 01st September, 2017- CBEC waives late fee payable under section 47 of the CGST ...
Income Tax : The Union Finance Minister Shri Pranab Mukherjee said that with the introduction of Goods and Services Tax (GST), we are now perha...
Excise Duty : Indirect tax collections have increased by over 16 per cent to 2,85,787 crore rupees during April-December in the country. This is...
Income Tax : In the context of formulating the proposals for the Union Budget of 2012-13, the Ministry of Finance would like to be benefited by...
Income Tax : Both direct and indirect tax arrears increased by about 33% to Rs 3.9 lakh crore in 2010-11. Minister of State for Finance SS Pala...
Finance : Amid fears of moderation in growth, Finance Minister Pranab Mukherjee today said sustained efforts would be needed to achieve indi...
Income Tax : We have considered the rival submissions carefully in the light of the relevant material on record as well as the decision cited b...
Goods and Services Tax : Read the latest newsletter from CBIC Chairman dated 01/04/2024. Indirect tax collections surpass estimates, guidelines for CGST in...
Income Tax : In the context of formulating the proposals for the Union Budget of 2012-13, the Ministry of Finance would like to be benefited by...
Service Tax : F.No.354/189/2009-TRU Customs duty on packaged software - As basic customs duty is Nil for packaged software, the additional duty ...
Read the latest newsletter from CBIC Chairman dated 01/04/2024. Indirect tax collections surpass estimates, guidelines for CGST investigations, and more.
Taxation is an important aspect of any country’s economic structure, and India is no exception. India adopts a well-organized taxation structure, meticulously designed to cater to different income groups and business scales.
Goods and Services Tax (GST) Notifications and Circulars Requirement of GST audit and reconciliation statement by professionals removed with effect from 1 August 2021: The Ministry of Finance has appointed 1 August 2021 as the date on which the provisions of Sections 110 and 111 of the Finance Act, 2021 have come into force. These […]
DIRECT TAXES UPDATES Recent circulars/ notifications/ rules/ clarifications/News ♦ CBDT Notified Income Tax Rule 8AC so as to provide for computation of short term capital gains and written down value u/s 50 where depreciation on goodwill is received. (Notification No. 77/2021-Income Tax [G.S.R. 472(E)]qvc) ♦ CBDT further extends the timeline for e-filing of Form 15CA/ […]
The Union Budget for financial year 2021-22 has been laid in Parliament on 1st February, 2021 by the Finance Minister. The Budget revolves around three themes i.e., inspirational India, economic development and caring society. The Budget made a statement that of all the structural reforms, the Goods and Services Tax (GST) has been the most […]
Notification No. 28 /2017 – Central Tax, dated- 01st September, 2017- CBEC waives late fee payable under section 47 of the CGST Act, 2017, for all registered persons who failed to furnish the return in FORM GSTR-3B for the month of July, 2017 by the due date.
Meaning:- The Goods and Services Tax (GST) is a comprehensive value added tax (VAT) on the supply of goods or services. France was the first country to introduce this value added tax system in 1954 devised by a public servant. In India, due to non consensus between central and state government, the proposal is to […]
The Union Finance Minister Shri Pranab Mukherjee said that with the introduction of Goods and Services Tax (GST), we are now perhaps at the door-step of the most significant reform in the history of indirect taxes in the country. He said that GST is expected to be a more efficient system of taxation and is likely to give a boost to the tax revenues of the Centre and the States.
Indirect tax collections have increased by over 16 per cent to 2,85,787 crore rupees during April-December in the country. This is mainly driven by an uptick in service tax collection. Total collection of indirect tax in Customs, Central Excise and Service Tax was 2,46,168 crore rupees in the same period last year.
In the context of formulating the proposals for the Union Budget of 2012-13, the Ministry of Finance would like to be benefited by the suggestions and views of your Association. You may like to send your suggestions for changes in the duty structure, rates and broadening of tax base on both direct and indirect taxes giving economic justification for the same.
