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FM releases FAQ on GST


The Union Finance Minister Shri Arun Jaitley releaseda Booklet containing Frequently Asked Questions FAQs relating to Goods and Services Tax GST Speaking on the occasion the Finance Minister Shri Jaitley lauded the efforts of the officials associated in the preparation of the booklet He complimented

Certificates will be issued to individual taxpayers


Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes Sub Finance Minister conveys Governments Appreciation to tax payers for their contribution towards Nation building The Government acknowledges the contribution of individual tax payers in paying taxes within

MVAT rates increased to 6%


FINANCE DEPARTMENT Madam Cama Marg Hutatma Rajguru Chowk Mantralaya Mumbai 400 032 dated the 16th September 2016 NOTIFICATION MAHARASHTRA VALUE ADDED TAX ACT 2002 No VAT 1516 CR 123 Taxation 1 In exercise of the powers conferred by sub section 1 of section 9 of the Maharashtra Value Added Tax Act 20

CBDT clarifies on taxpayers response to IDS 2016


Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi 15th September 2016 Sub CBDT clarifies unconfirmed reports on IDS 2016 Certain sections of the press have been speculating on the taxpayer response to the currently on going Income Disclosure Scheme

Govt reiterates information shared under IDS will not be shared with any authority


Government reiterates that information contained in a valid declaration under the Income Declaration Scheme 2016 is confidential and shall not be shared with any authority The Income Declaration Scheme 2016 the Scheme provides an opportunity to persons who have not paid full taxes in the past to com

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Experts Opinions

Intercorporate Loan Tax implication


What are the Tax implications on Inter Corporate Loans on Loan given by holding Listed Company to a Subsidiary Company Unlisted Public Limited Company apart from TDS on Interest Is there minimum Interest rate to be charged If yes please provide a reference Does it amount to Specified domestic transa

Income tax return


ALtd incorporated on 04 02 2016 whether A ltd will file its income tax return for AY 16 17

Service tax on developing land and selling residential flat


Our client Partnership firm land owners individual contract as per contract our client developing plot and constructed twins bungalow out of which one bungalow given to land owner free of cost some considerations for their land which is much below than government values one bungalow can sell out our

No service tax on under construction property: decoding delh


No Service Tax on Under Construction Property Decoding Delhi HC Judgement June 22 2016 Under construction jpeg Neetika New Delhi High Court has recently passed a contentious ruling on levying of Service Tax on under construction properties The judgement has left buyers across the country gasping for

Service tax on privilege cards


Hi Request all the experts to help me in solving an issue regarding implication of service tax on Privilege Cards The case is as below A company XYZ Pvt Ltd is dealing in the business of privilege cards i e the company tie up with other companies like Hotel Restaurants Spa Gym etc for a promotional

Discussion

query about sec.195 of i.tax

as per sec 195 6 any person paying to NR any sum whether chargeable or not shall furnish the info relating to payment of such i want to know that as per plain reading of this section this section covers very Wilder area that is any person in the world making payment to NR other than resident i e all

How to file tax for a company which has only directors

Hi All We have a Private Limited company registered in Oct 2015 The company has not made any transactions so far and we are planning to file NIL return We did not file returns for the last financial year Can someone guide me how to file NIL return for the company Is it possible to file it online mys

Service tax on construction contract

On of my client a Trust is going to construct a school building by giving a contract to some builders which includes material labour charges Kindly advise the service tax implication on this contract

Service tax input utilization.

i would like t build a warehouse on my land and then i will give it on rent i will purchase material and give it to labor contractor to build warehouse for me he will charge me service and i will charge service tax on rent to my client my query is whether i will eligible to take credit of labour cha

Tax implication on surrender of endowment policy

Hi Sir Madam I need your advice for Postal Life Insurance PLI Endowment Policy Below are the details Plan Santosh Sum Assured 5 Lacs Installment Premium Rs 1375 Monthly Rs 1401 with Service tax Issue Date 30 10 2012 Maturity Date 30 10 2039 Last Premium Paid Till 31 08 2016 Paid up Value as per PLI

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Articles

The Service Tax Registration Guide for India


Service based businesses in India with a turnover of over Rs 9 lakh in a financial year must have a service tax registration This applies to nearly all service providers barring a few that appear on the negative list such as educational institutions gymkhanas and cultural organisations Service tax i


Central excise duty levy - A suspense or suspended


Prelude It is within everyones knowledge that the Constitutional amendments w r t GST was mired in political controversies for many years and finally the Constitutional Amendment Bill paving way for enactment of GST was passed on 3 8 2016 After ratification by more than 50 of the States the Presiden


One India, One Tax - GST


Introduction GST will be a game changing reform for the Indian economy by creating a common Indian market and reducing the cascading effect of tax on the cost of goods and services It will have an impact on the tax structure tax incidence tax computation tax payment compliance credit utilization and


Has the central govt lost its power to levy excise duty?


With the release of Notification No SO2986 E dated 16 September 2016 Notification the Central Government has notified the enactment of the Constitution One Hundred and First Amendment Act 2016 Act with effect from 16 September 2016 Accordingly Article 246A of the Constitution has become operational


No change in MVAT rates of commodities


THERE IS NO CHANGE IN THE BELOW MENTIONED COMMODITIES EXCEPT the below commodities the MVAT Rate has changed from 5 5 to 6 and from 12 5 to 13 5 w e f 17th September 2016 4 A Cotton yarn but not including cotton yarn waste 8 Aviation Turbine Fuel sold to a Turbo prop aircraft 20 Cereals pulses with


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Updated on : 9/25/2016 10:37:09 AM


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