Community & General Articles
Impact of increase service tax on Make in India
Dear professional colleague,Krishi Kalyan Cess on all taxable services w.e.f. June 1, 2016 � Impact on �Make in India� and �Start-up India� driveAmidst huge expectations, the Hon�ble Finance Minister Shri. Arun Jai
Introduction to Income Computation and Disclosure Standards (ICDS)
Purpose of the article: -The purpose of the article is to give introduction of ICDS and important points for Corporates regarding ICDS 7 which covers impact of Disclosures Standards of Foreign Exchange in the books of Corporates.Income Computation an
Union Budget 2016-17 - Service Tax
SERVICE TAX 1.0 Amendments in Finance Act [Effective from date of enactment of Finance Bill, unless otherwise stated] 1.1 Amendment in Negative List 1.1.1 Widening the ambit of Service Tax by way of omission of Education Services specified under Clau
Start up India - Benefits and challenges
Start Up: The common man understands the word start up that when he starts any business. And the same is exactly true. But this word 'START UP' is the word of every mouth since January 16, 2016. Because our Prime Minister Narendra Modi ha
Building India - A shared responsibility
In plain terms, I wish to state that India cannot and will not be built with tweaking something here and something there. Average per capita income of the world is $10,000 whereas that in India it is around $1600. The size of the world economy is $70
Import of goods at concessional rate of duty - Procedure simplified with a demerit
Preface:-The Budget, 2016 brought about a series of changes in various sectors of the industry. In this article we will focus on the various changes made through notification No. 32/2016 – Customs (N.T.). This notification has been issued to su
Impact of Budget 16 changes in Service tax and Excise on Builders
Change in rate of Abatement:A uniform abatement at the rate of 70% is prescribed for services of construction of complex, building, civil structure, or a part thereof, subject to fulfillment of the existing conditions. Therefore tax is payable on 30%
Rule 7B of cenvat credit rules, 2004 - A new concept for multi-unit companies
Introduction:-Budget, 2016 has come up with some new provisions and concepts in the Central Excise Law. One such provision has been introduced in the name of rule 7B of Central Excise Rules, 2004 which has been framed on the same lines of input servi
Equalization Levy to Tax Digital Advertisements - Finance Bill 2016
We are living in a world where information and communication technology is changing rapidly. This has resulted into new business models where goods and services are being supplied in virtual world. Business are being conducted in digital domain and t
Major points of Union Budget 2016
The Hon. Finance Minister presented his budget 2016 on 29.02.2016.The budget can be categorized as;a) Major Steps i.e. bold initiatives.b) Continuance Steps with some changes.c) Minor Steps like cosmetic or announcement purpose.d) Failed Steps Uncall
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