CAclubindia Articles

Changes in the Finance Bill 2016

Posted by Himanshu Goel 10 March 2016 36776 Views

Rate of income tax in respect of income liable to tax for the assessment Year 2017-18The slab rate and rates of taxes are not changed for the Assessment year 2017-18. These are same as for the AY 2016-17, Which are as

Input service distributor - Concept simplified & scope widened

Posted by Pradeep Jain 10 March 2016 8976 Views

Introduction:-Budget 2016 has been introduced and it has bought some major changes in the Cenvat credit scheme by amending the Cenvat Credit rules, 2004. One such change has been introduced in the rule 7 which relates to the input service distributer

Service tax on Ocean Freight - Unsolved mystery

Posted by Manish 09 March 2016 12266 Views

The article deals with the spin offs with respect to one of the proposed amendments in Service tax by Finance Bill 2016A. THE VALUATION ISSUEAs we know it today, the activity of transportation of goods by an aircraft or a vessel from a place outside

Budget 2016 - Direct and indirect taxes

Posted by Abhishek Pandey 09 March 2016 18428 Views

INDIRECT TAXES : EXCISE, SERVICE TAX & OTHERS � KRISHI KALYAN CESS (KKC): New cess proposed @0.50% wef 01.06.2016. This shall be levied & collected as service tax on all or any taxable services on the value of such s

Impact of increase service tax on Make in India

Posted by Bimal Jain 09 March 2016 7535 Views

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

Limitation For Issuing SCN under section 73 enhanced

Posted by Pradeep Jain 09 March 2016 7527 Views

LIMITATION FOR ISSUING SCN UNDER SECTION 73 ENHANCED OrPROS AND CONS OF AMENDED SECTION 73It was proposed in the Central Excise Tariff Conference that the time limit for issuing show cause notice under normal period of limitation should be increased

Exemption to Ready Mix Concrete - A Great Relief to Construction Industry

Posted by CS Priyanka Gupta 09 March 2016 19548 Views

Taxability of Ready Mix Concrete, now a days has gathered a great impetus, due to various investigations and show cause notices being raised by the excise department to collect excise duty applicable to RMC from various construction industri

Whether to Continue Doing CA or Not?

Posted by Nimish Goel 09 March 2016 72839 Views

I am writing this article almost after a month and half, not because I did not get time to write something but because during the last two months I have got numerous emails from students who couldn’t pass their exams, the results for which were

Introduction to Income Computation and Disclosure Standards (ICDS)

Posted by Rahul Magan 09 March 2016 11126 Views

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

Posted by Deepak Bansal 09 March 2016 12312 Views

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