Daily Archives: March 9, 2017

To curb tax avoidance, GST rates may not be disclosed soon

The rates under the Goods and Services Tax (GST) regime are unlikely to be out before April-end as the government wants to avoid any tax evasion attempt by companies. India’s corporate entities will be tracking the developments in the Budget Session, which resumed on Thursday, as the GST Bill will be taken up in Parliament… Read More »

Category: GST

Govt Withdraws Service Tax Exemption on Services to Educational Institutions w.e.f 01.04.2017

Govt. withdraws service-tax exemption on Services to Provided to Educational Institutions Summary : Now pay service tax on Services Provided to  educational institution w.e.f 01.04.2017 (other than pre-school education and education up to higher secondary school or equivalent;”.) As per Notification No No.25/2012- Service Tax, Govt has given the following exemption from Service tax to Educational Institutions :-… Read More »

File Prosecution Complaints and disposal of Compounding Application – CBDT

GOVERNMENT OF INDIA Ministry of Finance/Department of Revenue Central Board of Direct Taxes North Block, New Delhi-110001 E-mail : chairmancbdt@nic.in Tele : 23092648 & Telefax : 23092544 F.No. 285/23/2013-IT(Inv.V)/595 Dated: 07.03.2017 Dear Principal Chief Commissioner of Income Tax, Sub: Filing of Prosecution Complaints and disposal of Compounding Application in your region-reg; From the figure of… Read More »

Reduce holding period of new asset purchased u/s 54/54B/54D & 54F to 2 years – Budget 2017-18 Suggestions

 Holding period of new asset purchased  Suggestion on Clause 3 of Finance Bill 2017 – Section 2(42A) – Reduction in holding period in case of immovable property, being land or building or both, to qualify as long term capital asset – Consequential amendments to be made in sections 54, 54B, 54D and 54F The Finance… Read More »