GST is levied on every transaction in the supply of goods and services, barring certain exempted items
Two United States senators have sought modifications in a 9/11 compensation-related bill, seeking to extend the increase in hike on H-1B and L1 visa fees for another six years and impose excise on some foreign companies to fund free treatment of 200,000 Americans living with health problems contracted while working at the Ground Zero.
The Union Budget on Monday evoked contrasting responses in the political arena with the ruling Bharatiya Janata Party hailing it as a vision for an 'Aatmanirbhar Bharat' and the Opposition describing it as a 'let down like never before' that was meant to 'deceive' people.
GST necessarily includes service tax, but VAT can only be on goods without including service tax
The Budget 2010-11 has not done away with most excise or customs exemption notifications but, contrary to the need of the hour, added more exemptions, each with its own set of conditions that entail more paperwork and transaction costs. However, a couple of procedural improvements will bring some relief to select importers and exporters.
The Reserve Bank of India on Friday said that the Budget 20010-11 presented by Finance Minister Pranab Mukherjee is in line with the path of fiscal consolidation and economic revival.
'Under this government, tax laws have become more draconian, and the government itself is setting stiff, unrealistic targets for tax officials, who have got more powers to harass us,' points out Debashis Basu.
Car makers fear that when car prices go up and loans become expensive, running a car will also cost more. Thus a stimulus-pullback will act as the straw that broke the camel's back, says Bhupesh Bhandari.
'Till now, we were under tremendous stress. The economy was not recovering, the financial cycle was not moving and the banks were not supporting.' 'With the government pumping in money to the banks and asking the NBFCs to give priority to the MSME sector, there will be a revival.'
Official sources said the government has decided to transfer Kalia from her current post as Fatehabad SP, adding formal orders will be issued soon.
While consumers feel that petrol pinches directly, diesel hurts indirectly, as it is an input in almost all the goods and services we use.
A firm, which managed Prime Minister Narendra Modi's hugely successful Lok Sabha campaign, has come under the scanner of revenue authorities for alleged service tax evasion.
'Just as coronavirus has come to us from China, this disease is also coming from that country.' 'India is a strong democracy and you cannot compromise on labour laws in this manner.' 'These changes will be challenged in court.'
Janata Dal-United MLC Manorama Devi faced an arrest warrant on Wednesday for violating prohibition laws and allegedly harbouring her fugitive son.
These benefits would only be available to individuals and corporates, and professionals like auditors will not be able to use this route as they are duty-bound to report any wrongdoing.
A robust dispute settlement system would help the government unlock tax revenues, and also aid ease of doing business.
'Coupled with e-filing procedures it would really enhance the ability of the judiciary to provide speedier justice.'
'We expect the new government to look into the issue of penalties imposed on technology firms involved in UID related projects.'
Punj Lloyd voluntarily deposited Rs 1.06 crore (Rs 10.6 million) on the spot through challans when excise officials visited them during an investigation in the matter.
Announcing the cabinet decision, Union minister Prakash Javadekar also said the President, the Vice President, Governors of states have also voluntarily decided to take a pay cut as a social responsibility.
The revenue collection in the same month a year ago stood at Rs 94,442 crore.
In what signals an emerging battle among small car manufacturers, Hyundai Motors India Ltd has asked the country's apex auto association to act against moves by "some pressure groups" to change the definition of a small car.
As many as 12,394 complaints of alleged corruption were received against railway employees.
If the government tries to bring in real estate under GST now, it will be a typical case of biting more than what one can chew, says Sukumar Mukhopadhyay.
The Institute of Chartered Accountants of India has shortlisted the changes it hopes to see in Budget 2017.
Prime Minister also underlined the need for increasing the number of tax payers to 10 crore.
East Bengal's coach, who is employed with the anti-evasion department of Central Excise, was allegedly caught accepting Rs 150,000 from a businessman.
Electricity has also been kept out of the GST ambit.
'... the government provides adequate cash and kind support for the poorest of the poor for survival... ...conditional cash and skilling support for the economically poor to raise their incomes to adequate levels... ...and make functional arrangements for providing unemployment allowance to the vulnerable poor during disasters like the present one.'
Bombay High Court view opposed to this was wrong.
One of the key issues will be tax exemption sought by the ICC for the future global events in India like the 2021 Champions Trophy and the 2023 World Cup.
The government's plan to mop-up additional revenue from indirect tax may not materialise
'The stimulus packages, sector reliefs, loans etc are coming to industry, but state governments have not got any money from GST, no money from excise, no money from any income source.'
The Madras High Court on Wednesday directed its registry to post a PIL seeking regulation of various clubs and questioning the dress code imposed by them in the backdrop of denial of entry to a dhoti-clad Judge by TNCA Club in Chennai to some other bench.
The government is considering to enact Service Tax Act and is likely to allow states to levy the tax on local items after nationwide value-added tax is introduced, a senior official of Central Board of Excise and Customs said on Thursday.\n\n\n\n
Excise duties on mobile phones to be 1% without CENVAT credit or 6% with CENVAT credit. This provision will have marginal impact on telcos.
Tina, 22, a graduate from Delhi's Lady Shri Ram College, topped the 2015 civil services exam securing 1,063 marks (52.49 per cent) out of a total of 2,025-comprising 1,750 of main and 275 of interview.
