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

Tax Benefits for Maritime Sector and Ease of Doing Business

March 15, 2016March 16, 2016 TaxIndiaUpdates In0 comments4645 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 comments8676 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 comments8947 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 comments3914 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 comments10215 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 →

Budget 2017

Changes proposed in Central Excise Law by Union Budget 2016-17

March 10, 2016March 25, 2016 TaxIndiaUpdates In0 comments6001 views

Changes proposed Central Excise Law by Union Budget 2016-17 1.The Clean Energy Cess is being renamed as Clean Environment Cess. The effective rate of Clean Energy Cess is being increased from Rs.200 per tonne to Rs.400 per. 2.The Oil Industry (Development) Act, 1974 is being … Continue Reading →

Service Tax

Changes in Cenvat Credit Rules by Union Budget 2016-17

March 10, 2016April 20, 2016 TaxIndiaUpdates In0 comments12850 views

AMENDMENTS IN THE CENVAT CREDIT RULES, 2004 New Post : PPT Presentation on Union Budget 2016-17 Amendments related to Capital Goods Wagons of sub heading 8606 92 included in the definition of capital goods The Capital goods used in office located within factory is also … Continue Reading →

Service Tax

New Service Tax Return Form ST-3 incorporates details of Swachh Bharat Cess

March 8, 2016 TaxIndiaUpdates In0 comments6380 views

March 08, 2016 Form ST-3 CBEC vide Notification No. 20/2016-Service Tax dated March 08, 2016 has been amended Service Tax return Form ST-3 to incorporate details of Swachh Bharat Cess. The detailed Notification is as under: Government of India Ministry of Finance Department of Revenue … Continue Reading →

Budget 2017

After intervention of PM Modi EPF Tax Proposal withdraw by Arun Jaitley

March 8, 2016March 25, 2016 TaxIndiaUpdates In0 comments2587 views

March 08, 2016 After intervention in the matter by Hon’ble Prime Minister Shri Narendra Modi the EPF Tax Proposal has been withdrawn by Shri Arun Jaitley. The announcement was made by Sh. Arun Jaitley in the Lok Sabha today on Tuesday March 08, 2016 as under: … Continue Reading →

Income Tax

CBDT Circular on Taxability of Consortium Members

March 8, 2016March 8, 2016 TaxIndiaUpdates In0 comments7154 views

March 07, 2016 CBDT vide it Circular No. 07/2016 dated March 07, 2016 (F. No. 225/2/2016/ITA.II) clarified the issue of taxation of consortium members. The tax authorities, in many cases have taken a position that such a consortium constituted an Association of Persons (‘AOP’) i.e. a … Continue Reading →