Articles by Madhukar N Hiregange

Indirect Tax Impact - Tax Audit - AY 14-15

Posted by Madhukar N Hiregange 16 August 2014 56164 Views

Tax Audit Under IT Act. for AY 14-15 Indirect Tax ComplianceCA Madhukar N Hiregange & CA Roopa Nayak The tax audit under Income Tax has undergone a change. There are already a number of compliances which professionals felt was asking for

Past Year Cenvat Credit - Last Chance?

Posted by Madhukar N Hiregange 18 July 2014 19682 Views

Revenue Augmentation by Way of Cenvat Credit Restrictions[ Past Credit Availment Last Chance? CE/ ST]CA Madhukar N HiregangeExcise duty collections are expected to be about Rs. 2 Lakhs crores and Service Tax collections about 2.2 Lakh

Union Budget 2014 - Indirect Taxation

Posted by Madhukar N Hiregange 12 July 2014 21856 Views

In recent times, the law abiding assesses have to contend with large number of target based queries/notices, audits and summons generally high amount of tax terrorism. Infructuos demands [90-95% bound to fail as p

Union Budget 2014- Indirect Taxation- The Ugly Side

Posted by Madhukar N Hiregange 12 July 2014 10880 Views

Union Budget 2014- Indirect Taxation- The Ugly Side- Tax terrorism to Continue unabated. In recent times, the law abiding assesses have to contend with large number of target based queries/notices, audits and summons generally high amount of tax terr

Post Budget 2014 - Central Excise

Posted by Madhukar N Hiregange 12 July 2014 6774 Views

There could be various situations which we have examined separately as follows: A. Goods Earlier exempted now exemption withdrawn./ Not liable or nil rated in Central Excise tariff - Goods removed prior to 10.7.2012 not liable: This would be even if

Relevance of IDT to Purchase function

Posted by Madhukar N Hiregange 03 June 2014 4679 Views

What The Material/ Procurement Executive/ Manager needs to know about Indirect Taxes? The successful material/ purchase officers knows the production needs well in terms of quality, timeliness and quantity. He also understands the cost of products /

Measures to Augment Revenue as well as Reforms in Indirect Taxes

Posted by Madhukar N Hiregange 28 May 2014 5398 Views

I. MEASURES TO AUGMENT REVENUE A. General Measures 1. Information in respect of assessees be shared between the Central Government and the State Governments on a reciprocal basis. This will facilitate reconciliation of returns and indicate areas / se

Value Add Through IDT- Purchase Department

Posted by Madhukar N Hiregange 27 May 2014 5168 Views

At time we the accounting and finance professionals loose sight that the marketing/ procurement personnel of the company could if they are aware add huge value to the company. The concept of cenvat/ set off exists in central excise, VAT as well as Se

Study Tips and Examination Techniques

Posted by Madhukar N Hiregange 28 April 2014 31102 Views

The taxation paper is one of the best scoring paper in the IPCC exam. This can help to make good the shortage of marks in other papers or to get exemption which can assist in the next attempt. Recently more importance has been given to taxation paper