Others News

Finance Bill, 2012

16 March 2012 at 13:47

Chapter I Preliminary Chapter II Rates of Income Tax Chapter III Income Tax Wealth Tax Chapter IV Customs

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Basic Customs Duty Reduced in Agriculture & Related Sectors

16 March 2012 at 13:46

Carrying forward the initiatives taken for agriculture and agro-processing sectors, the Government proposed to reduce basic customs duty from 7.5 per cent to 2.5 per cent on sugarcane planter, root or tuber crop harvesting machine and rotary tiller

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Duty on Large Cars Enhanced from 22 Per Cent to 24 Per Cent

16 March 2012 at 13:46

Large cars currently attract excise duty depending on their engine capacity and length. While presenting the Union Budget 2012-13 in LokSabha today, the Finance Minister ShriPranab Mukherjee proposed to enhance the duty from 22 per cent to 24 per ce

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Service Tax Exempted for Items on Negative List

16 March 2012 at 13:46

Health Care, Services Provided by Charities, Religious Persons, Independent Journalists, Sportspersons Among Others also Exempted from Service Tax In his Budget Speech, the Union Finance Minister ShriPranab Mukherjee said

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One Page Common Return for Central Excise and Service Tax Proposed

16 March 2012 at 13:46

As a measure of harmonization between Central Excise and Service Tax, the Government has made a number of alignments. This was announced by the Finance Minister ShriPranab Mukherjee while presenting the Union Budget 2012-13 in LokSabha today. These

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Service Tax Rate Raised from 10 Per Cent to 12 Per Cent

16 March 2012 at 13:44

The Service tax rate has been marginally raised from 10 per cent to 12 per cent. Presenting the Union Budget 2012-13 in LokSabha today, the Union Finance Minister ShriPranab Mukherjee said that to maintain a healthy fiscal situation, the Government

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Full Exemption from Basic Customs Duty Given to Certain Infrastructure Sectors

16 March 2012 at 13:34

The Finance Minister ShriPranab Mukherjee has announced full exemption from basic customs duty and a concessional CVD of 1 per cent to Steam coal for a period of two years till March 31, 2014. While presenting the Union Budget 2012-13 in LokSabha

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Gross Tax Receipts Estimated at Rs.10,77,612 Crore-19.5% Increase Over 2011-12

16 March 2012 at 13:34

Gross Tax Receipts Estimated at Rs.10,77,612 Crore-19.5% Increase Over 2011-12 Re Indirect Tax Revenue Growth Estimated at 26.7% &Direct Tax Revenue Growth at 13.9% Over 2011-12. Total Expenditure Estimatedrs. 14,90,925 Crore

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Turnover Limit for Compulsory Tax Audit Raised to Rs. One Crore

16 March 2012 at 13:30

Measures Proposed for Skill Development and Augmenting Funds for SMEs Turnover Limit for Compulsory Tax Audit Raised to Rs. One Crore In order to augment funds for SMEs (Small and Medium Enterprises), theUnion Finance Minister Shri Pranab Mukh

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STT Proposed to be Reduced by 20 Per Cent

16 March 2012 at 13:27

STT Proposed to be Reduced by 20 Per Cent GAAR PANEL Mooted to Counter Aggressive Tax Avoidance Schemes Levy of Alternate Minimum Tax Proposed to be Extended In the General Budget 2012-13presented by theUnion Finance Minister ShriPranab Mukhe

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