The Indian auto industry is one of the largest in the world. The industry accounts for 7.1 per cent of the country's Gross Domestic Product (GDP).
Since the tax system is in the transitional phase, hence, this is the right time for businesses to understand the immediate action points for smooth implementat..
The implementation of GST is possible from April 2017 or little later. Migrating to the new tax regime could have substantial impact on the business houses.
If material and service portion cannot be segregated, then 70% of the value is deemed to be the standard service element as per the service tax law.
Service Tax Audits by Department - Legal Position - By CA Ravi Kumar Somani & Rakesh SaraswathINTRODUCTION:Service Tax law operates under the concept of sel
In case of a Real estate and construction industry, where due to various political and economical reasons we have seen that there is a sharp downturn being noted in the sale of residential and commercial construction projects irrespective of fact tha
SomaniCurrently, there is lot of confusion among the industry, trade and the taxmen on whether the activity of Renting of movable goods or supply of tangible goods attracts Servi
Constitutional amendment bill for levying Goods and services tax
The term �service� is defined under service tax law to mean any activity for �consideration� by one person for another. In this regard
Use of Digital Signature and Electronic maintenance of records under Central Excise and Service Tax Government of India has in the recent past launched its dream initiative of �Digital India� which promises to integrate the government dep