The Hon’ble President has given assent to the Finance Bill, 2015 on Thursday, May 14, 2015. Accordingly, the Finance Bill, 2015 now becomes Finance Act (No.20), 2015. However, it is to be noted here that increase in the rate of Service tax from 12.36% to flat 14% (Subsuming Education cess and Secondary & Higher Secondary Education cess) as was proposed in the Union Budget, 2015 will become effective only after the date to be notified and not effective from May 14, 2015.
On 24th April, 2015, the erstwhile Maharashtra Stamp Act, 1958 received the assent of the Governor, to be called as the Maharashtra Stamp (Amendment) Act, 2015[1]. Various changes have been made in the principal act and some new provisions have been inserted for more clarity in understanding.
And our hardship w.r.t. Delhi property Circle rate continues its surge, thanks to Delhi Government and to the Income Tax Act Property transactions are undertaken for various purposes viz. investment, trading, distress etc. However, a transaction in property may lead to gain for some and loss for some but the Circle rates in Delhi in […]
One of the biggest challenges in the professional’s life is the Mind of the professional. Surprised ! .. Let me explain you. See a trader earns by selling inventory while professional have his time as his only inventory, isn’t it ! So, your time coupled by mental quality of that time makes your inventory. Keeping this in mind it is so crucial for one to live in the present moment {Recall the pepsi Ad –’Live it Abhi’}. This will help you to use more percentage of your mind at any present moment.
The time for preparation of the first financial statements as per the Companies Act’2013 is here. One of the most important provisions of the Act for Companies as well as the auditors to consider is the new method of the calculating depreciation as per Schedule II Part C of the Companies Act’2013.
The Goods and Service Tax (GST) is a tax likely to be implemented in India, from 1st April 2016. GST is proposed to be a comprehensive indirect tax to be levied on manufacture, sale and consumption of goods as well as services at the national level. It will substitute all indirect taxes levied on goods and services by the Central and State Governments in India as of now. It is aimed at being comprehensive for most goods and services.
The director from whom money is received furnishes to the company at the time of giving the money, a declaration in writing to the effect that the amount is not being given out of funds acquired by him by borrowing or accepting loans or deposits from others.
In view of the newly inserted provisos, some field officers took the view that whoever orders goods to the Manufacturer and directs the Manufacturer to send the goods to ultimate user directly are required to take Dealer’s Registration.
Amid stiff resistance followed by walk out by the Congress Members, the Lok Sabha today, on May 6, 2015 has passed the much awaited Constitutional (122nd Amendment) Bill, 2014 on Goods and Services Tax (GST) with 2/3rd majority.
Procedure for registration in ACES for NEW Central Excise or Service Tax Assessee as the case may be (User who is NOT already registered in erstwhile SACER/SAP and wish to transact business afresh with CBEC for the first time through ACES): 1. Kindly go to www.aces.gov.in —-> Select Central Excise / Service Tax (as the […]
