rates of central sales tax

News

Clarifications on the Taxation and Investment Regime for PMGKY 2016


F No 142 33 2016 TPL Part Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes TPL Division Dated 18th of January 2017 Clarifications on the Taxation and Investment Regime for Pradhan Mantri Garib Kalyan Yojana 2016 The Taxation and Investment Regime for Pradha

New design of PAN card with QR code from 1st January


NSDL e Governance Infrastructure Limited PAN Services Circular Circular No NSDL TIN 12017 001 January 10 2017 Subject New design of PAN card All TEN FCs PAN Centres are hereby informed that the Income Tax Department ETD has prescribed certain changes in the existing design of the PAN Card Accordingl

Exposure Draft of Ind AS Taxonomy for Comments


As per the roadmap issued by the Ministry of Corporate Affairs MCA in February 2015 certain class of companies have to prepare their financial statements as per Indian Accounting Standards Ind AS which are converged with International Financial Reporting Standards IFRS w e f F Y 2016 17 MCA has also

Direct tax collection upto December shows 12.01% growth


Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes Direct Tax Collections up to December 2016 show Growth of 12 01 The figures for Direct Tax collections up to December 2016 show that revenue net of refunds is Rs 5 53 lakh crore which is 12 01 more than the n

IT dept awarded for efiling of IT returns project


Income Tax Department receives Silver Award for e filing of Income Tax Returns project in the National Awards on e Governance 2016 17 The Income Tax Department is proud to announce that it has been conferred the Silver Award in the National Awards on e Governance 2016 17 for the e filing of Income T

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Experts Opinions

Remedy for sales during unregister period


Dear Expert Our Client is engaged in the business of Builder And Developers They executed first agreement on 8th December 2010 but applied for VAT Registration on in 2011 Now got the notice for URD assessment on 31 12 2016 We have not applied for condo nation of delay as under impression that we are

Taxation impact of sale of bidding documents


We have sold bidding document to proposed bidders in the project We would like to know that what would be the taxation impact on these sale transactions The queries are as follows 1 Vat Mahavat should be charged or service Tax 2 If vat would be charge then what would be rate of tax 3 is there any ex

Depositiing of self assessment tax twice


One of my client has deposited self assessment twice but he had claimed only once in Income Tax Return How can he get refund of the second tax paid Can he revise the return to claim both self assessment tax paid

Service tax in case of works contract


Dear All I have doubt with regard to service tax on works contract suppose there is a JDA agreement the builder buys back the owner s share flats and makes revenue out of it is service tax attracted on bought back flats According to me the bought back flats does not fulfil the definition of works co

Title of income tax act


why it is called income tax act 1961 even commenced in 1962

Discussion

Mvat input tax credit on construction expenses

Is the vat on expenses of construction of office eligible for setoff

works contract tax under vat

Can any1 share d provisions relating to eligibility chargeability taxability claiming credit rates of work contract tax under vat Also state dat whether service tax n tds is applicable on d same Also which kind of services are covered under dis act Plz reply me ASAP Thanks in advance CA Sudipta Band

Taxability on pension amount

Hello guys and respected members I m planning to investment in pension fund in LIC I want to know whether maturity amount is taxable or tax free and kindly also help me for knowing the exact tax provision on same

Compensation received by co op hsg society taxable or not

Respected Sir I am very thank full to all of you for helping me whenever required This time i have client who is senior citizen and 20 years ago He was lost his 13 years old son due to some fault of School Body and Society Body and He had claim for compensation at that time against both Session Cour

Income tax return

A PERSON WHO HAS PARNTER IN LLP AND ALSO HAVE PROPRITOR BUSSINESS WHICH ITR HE SHOULD HAVE TO FILE

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Articles

Indirect Tax: Present Vs GST


GST seems to be reality now Many well run anxious business entities are looking for the impact study to analyse how GST would impact their business in terms of pricing policies procurement sales procedural compliances cashflow and its internal control system and software In order to understand the i


GST Tax Structure,Return & Penalty Provision


This article is for acquiring the knowledge on the basis of draft model of GST which would be modified at a later stage As on date it has become essential to understand the tax structure once GST is implemented since for compliance of indirect taxation all the existing heads of indirect taxes like C


Notification on service tax in 2017 for tour operators


New Notification No 01 2017 02 2017 03 2017 and 04 2017 dated 12 01 2017 These notifications shall come into force from 22 01 2017 Tour Operators Category of Service Provider Current Status Changes by Notification Services to same group Under Mega exemption Substitution g business facilitator or a b


9th GST Council inks breakthrough on dual control over tax payers


In an attempt to try and bridge differences on the contentious issues such as administrative control over taxpayers under the Goods and Services Tax GST the all powerful GST Council headed by the Honble Finance Minister Mr Arun Jaitley met for the ninth time in a row to clear all gathered clouds ove


Pre-Budget Amendment in Service Tax


While the Union Government is keen to present the Budget for upcoming financial year on 1st Feb 2017 departing from the colonial era tradition of presenting the Union Budget on the last working day of February the Central Board of Excise and Customs CBEC on 12th of January 2017 proposed several amen


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