Finance : Union Budget 2025 focuses on growth engines like MSME, agriculture, and exports. Major tax reforms include a ₹12L exemption limi...
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 ...
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 ...
It gives me great pleasure to be here on this occasion when the Empowered Committee under the dynamic leadership of Dr. Asim Dasgupta is releasing its First Discussion Paper on the proposed Goods and Services Tax (GST). At the outset, let me whole-heartedly congratulate all of you for giving shape and form to an idea whose time, I believe, has truly come.
Professional Competence Examination-It is clarified that in Part –II : Service tax and VAT of Paper 5 : Taxation, students will not be tested on specific questions covering individual taxable services.
F.No.354/189/2009-TRU Customs duty on packaged software – As basic customs duty is Nil for packaged software, the additional duty of customs („CVD?) levied in lieu of the Central Excise duty payable on like goods manufactured in India (including education cess and secondary and higher education cess on such CVD) is the effective customs duty paid on import of such software; and Service tax in relation to providing right to use information technology software for commercial exploitation under the category of ITSS on reverse charge mechanism.
This new service is a new centralised web based software application of CBEC which provides us an online electronic interface with the department. ACES aims to reduce paperwork, visits to the department and transaction costs while increasing accountability, responsiveness, efficiency and transparency in indirect tax administration.
In addition to the Notifications and Circulars given in the Appendix to the RTPs for November, 2009, students may note that rate of service tax has been reduced from 12% to 10% with effect from 24.02.2009 vide Notification No. 8/2009-S.T. dated 24-2-2009. The said notification is relevant for the following mentioned papers in November, 2009 examinations: –
It is likely that the extant central and state levies of indirect taxes on the domestic production and sale of goods and on provision of services may be replaced by the levy of central and state Goods and Services Taxes from 1 April 2010.
Seven months after the arrest of two Price Waterhouse auditors in the scam at Satyam Computer Services Ltd, the accounting regulator has finally acted against one of them. The executive committe of the Institute of Chartered Accountants of India, or Icai, has decided to withdraw S. Gopalakrishnan from 11 of its committees.
Public sector companies can now seek advance ruling on Customs, Central Excise and Service Tax matters. Also, Indian companies (those considered as resident under the Income-Tax law) have now been allowed to seek advance ruling on project imports. The Center’s move to extend the advance ruling facility to public sector companies comes nearly a decade […]
Announcement for November 2009 examinations Professional Competence Examinations It is clarified that in Part –II : Service tax and VAT of Paper 5 : Taxation, students will not be tested on specific questions covering individual taxable services. Integrated Professional Competence Examinations It is clarified that in Part –II : Service tax and VAT of Paper […]
The UPA is back at a time faced with economic slowdown and hence, an immediate agenda of economic revival. The Small & Medium Enterprises (SME) is one of the high growth sector with over 40% contribution to the industrial production. Given the high potential of SMEs to develop entrepreneurial skills, generate employment as well as […]
