TaxIndiaUpdates.In : GST, Service Tax, Income Tax, VAT, Tax Planning

Budget 2017

Maharashtra State Budget 2016-17

March 19, 2016March 25, 2016 TaxIndiaUpdates In0 comments8003 views

Highlights of Maharashtra State Budget 2016-17 Maharashtra Finance Minister Sh. Sudhir Mungantiwar on Friday March 18, 2016 has presented in the state Assembly the budget for 2016-17. Following are highlights of Maharashtra State Budget 2016-17: Exemption from Levy of Sugarcane Purchase Tax for the year 2015-16 … Continue Reading →

Budget 2017

PPT Presentation on Union Budget 2017-18

March 17, 2016February 1, 2017 TaxIndiaUpdates In0 comments11291 views

PPT Presentation on Union Budget 2017-18 Presentation on Amendments in Cenvat Credit Rules by budget 2016 (Download) Changes proposed in service tax by union budget 2016 17 (Download) Other Post Related to Union Budget 2016-17 Equalisation Levy The Income Declaration … Continue Reading →

Income Tax

CBDT Instruction to pass order under section 12AA within six months

March 17, 2016 TaxIndiaUpdates In0 comments5359 views

CBDT Instruction to pass under section 12AA within Six Months CBDT vide its Instruction No. 16/2015 dated 16-11-2015 give direction that time limit of six months is to be strictly followed by the Commissioner of Income Tax (Exemptions) while passing order under section 12AA. The CCIT … Continue Reading →

Income Tax

Fund Management Activity by an eligible Investment Fund is not a business connection in India

March 17, 2016 TaxIndiaUpdates In0 comments4024 views

Fund Management Activity by an eligible Investment Fund is not a business connection in India Section 9A of the Income-tax Act, 1961 (the Act) provides for special taxation regime with effect from 01.04.2016 to facilitate location of fund managers of off shore funds in India. Under … Continue Reading →

Central Excise

Removal of Goods at Concessional Rate of Duty Rules 2016

March 15, 2016April 12, 2016 TaxIndiaUpdates In0 comments7315 views

Central Excise (Removal of Goods at Concessional Rate of Duty for Manufacture of Excisable Goods and Other Goods) Rules, 2016 (As amended by Notification No. 22/2016-Central Excise (N.T), Dated: March 15, 2016) 1. Short title, extent and commencement. – (1) These rules may be called the … Continue Reading →

Service Tax

Tax Benefits for Maritime Sector and Ease of Doing Business

March 15, 2016March 16, 2016 TaxIndiaUpdates In0 comments4744 views

Tax Benefits for Maritime Sector and Ease of Doing Business In order to provide the Indian shipping industry a level playing field and make it competitive at international level, the government has earlier implemented certain policies. In recent the Government of India has proposed the … Continue Reading →

Budget 2017

Salient Features of Equalisation Levy as introduced by Union Budget 2016-17

March 14, 2016May 31, 2016 TaxIndiaUpdates In0 comments8770 views

Equalisation Levy as introduced by Union Budget 2016-17 CBDT Notified Equalisation Levy Rules 2016 Considering the potential of new digital economy and the rapidly evolving nature of business operations it is found essential to address the challenges in terms of taxation of such digital transactions as … Continue Reading →

Income Tax

The Direct Tax Dispute Resolution Scheme, 2016

March 13, 2016March 16, 2016 TaxIndiaUpdates In1 comments9030 views

The Direct Tax Dispute Resolution Scheme, 2016 Eligibility A declarant can file a declaration in relation to tax arrears or specified tax in respect of which appeal is pending before the CIT(A). Tax Arrear Amount of tax, interest or penalty determined under the IT Act … Continue Reading →

Central Excise

No CVD payable on Set Top Boxes which is provided free of cost to the consumers by DTH Service Provider

March 12, 2016March 16, 2016 TaxIndiaUpdates In0 comments3990 views

CBEC vide its Circular No. 1020/8/2016 – CX dated the 11th March, 2016 (F.NO. 6/5/2015 – CX.I) has clarified that in terms of decision in case of M/s Bharti Telemedia Ltd. Vs Commissioner of Customs (Import), Nhava Sheva reported as no CVD payable on Set Top Boxes which is … Continue Reading →

Central Excise

Salient Features of the Indirect Tax Dispute Resolution Scheme 2016

March 11, 2016March 16, 2016 TaxIndiaUpdates In0 comments10323 views

Salient Features of the Indirect Tax Dispute Resolution Scheme 2016 A scheme in respect of cases pending before Commissioner (Appeals), the assessee, after paying the duty, interest and penalty equivalent to 25% of duty, can file a declaration, is being introduced. In such cases the … Continue Reading →