The word “Support Services” was substituted with all services vide The Finance Act 2015, which was made effective from 01.06.2015. However, effective date of amendment of the section was notification w.e.f. 01.04.2016 thereby all services provided by the Government is subject to service tax on reverse charge basis. In my article published in our Bulletin […]
Input Tax Credit (ITC) is available for Goods & Services Tax (GST) paid or payable by a registered person on the purchases or expenses incurred for the business activities. Criteria To Claim Input Tax Credit (ITC) You must be a registered person, that’s taxable person. The goods or services must have been acquired in the […]
Ammendments in TDS shall be substituted w.e.f 01/06/2016 TDS rates ammended by CBDT notification number 30/2016 dated 29/04/2016
Implementation Of GST May Boost FMCG Prospects In 2016
The Union Cabinet on Wednesday cleared a Rs 10,000-crore fund for startup companies and a mega spectrum auction that is likely to fetch about Rs. 5.66 lakh crore to the exchequer. Finance Minister Arun Jaitley also said the Cabinet had approved Rs 6,000-crore aid for apparel manufacturing. The government said the move will create around […]
Union Cabinet on Wednesday cleared a Rs 6,000 crore special package for the sector. The move, according to the government, would create 1 crore new jobs in three years, in addition to attracting investments of $11 billion and generating $30 billion in exports. http://indianexpress.com/article/business/economy/textile-sector-gets-rs-6k-cr-package-to-create-1-cr-new-jobs-2870036/
Model GST Law 2016 : Clause-wise Analysis 1. Final GST Analysis 2. Valuation Rules 3. IGST 4. Annexures Annexures A Annexures B Annexures C Annexures D http://icmai.in/icmai/news/Model-GST-Law-2016.php
In exercise of the powers conferred by sub-section (1F) of section 197A of the Income-tax Act, 1961 (43 of 1961) and in supersession of the notification of the Government of India, Ministry of Finance (Department of Revenue) number S.O. 3069 (E) dated 31st December, 2012, published in the Gazette of India, Extraordinary, Part II, Section […]
Draft GST law has been uploaded on Finance Ministry’s site www.finmin.nic.in
