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Withdrawal of Service Tax Exemption for Educational Institutions

March 10, 2017 62052 Views 4 comments Print

Notification No. 10/2017-Service Tax has been issued by Government so as to withdraw exemptions granted earlier to few specific Services provided to an Education Institutions.

Reduce 3 Year limit under section 54, 54B, 54D and 54F to 2 Years

March 9, 2017 35379 Views 9 comments Print

Section 2(42A) – Reduction in holding period in case of immovable property, being land or building or both, to qualify as long term capital asset – Consequential amendments to be made in sections 54, 54B, 54D and 54F

Ram Jethmalani cross examined Arun Jaitley in court: Part 2

March 9, 2017 12663 Views 3 comments Print

Are you aware that I advised Mr. Narender Modi not to set you up as a candidate from the Amritsar seat? Can you assign any serious reason for which Mr. Bishan Singh Bedi made a complaint against you with the Prime Minister?

Amendment in Service Tax Exemption to Educational Institutions WEF 01.04.2017

March 8, 2017 38754 Views 0 comment Print

Provided that nothing contained in clause (b) of this entry shall apply to an educational institution other than an institution providing services by way of pre-school education and education up to higher secondary school or equivalent

Ram Jethmalani cross examined Arun Jaitley in court: Part 1

March 8, 2017 53238 Views 10 comments Print

I put it to you that ‘goodwill’ is enjoyed even by a crook, who has done some good thing to somebody. What do you have to say? You have used the word ‘goodwill’ in the letter addressed to Deputy Registrar filed along with the plaint. Are you aware about the difference between goodwill and reputation?

Are you serious, Mr. Prime Minister?

March 7, 2017 5820 Views 19 comments Print

When I heard you during your election campaign for the parliamentary elections in 2014, I just dismissed it as another rhetoric by an aspiring politician…. I am referring to your vow of eliminating black money, the so-called parallel economy running in the country… rather, running the country.

Key takeaways of 11th GST Council meeting

March 6, 2017 8754 Views 0 comment Print

GST Council, in its meeting held on March 4, 2017 has approved the Draft CGST Bill and the Draft IGST Bill. This clears the deck for the Central Government to take these two Bills to the Parliament for their passage in the on-going Budget Session.

ICAI suggests withdrawal of ICDSs

March 6, 2017 6756 Views 2 comments Print

It is suggested that the Income Computation Disclosure Standards may be withdrawn and necessary amendments be proposed under the Income Tax Act, 1961 itself.

GST, Excise, Service Tax, Customs and VAT updates for February 2017

March 5, 2017 9765 Views 0 comment Print

Outcome of GST Council Meeting held on 04th March, 2017–The GST council cleared C-GST and I-GST bills.-Draft SGST law will be circulated among states in the next few days.-1st July, 2017 appeared to be the likely roll out date for GST- Union Finance Minister

Remove proposed restriction on carry forward of MAT/ AMT credit: ICAI

March 5, 2017 8739 Views 0 comment Print

Section 115JAA(2A) – Restriction on carry forward of MAT/AMT credit and claim of FTC in relation to taxes under dispute – Restriction to be removed

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