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Finally the Finance Minister Mr. Pranab Mukherjee speaks about the future of the Goods and Service Tax and the words spoken by him were not surprising at all. GST is unlikely to be implemen...
This article puts light on input service and its credit claim based on some judgement, especially activities relating to business. 1. Coca Cola India v. CCE (2009) 22 STT 130 (Bom HC DB) 2. ABB...
Budget 2010 whether good or bad for GST? In Budget Speech 2010 -2011 Pranab Mukherjee, Minister of Finance showed his keenness to introduce GST; however, he also recognised that there are issues in it...
TAX RATE COUNTRY GST RATE DATE OF INCEPTION COUNTRYGST RATEDATE OF INCEPTIONAustralia10 % 1 July 2000Canada5 % 1 January 2008New Zealand12.5 % 1 October 1986Singapore7 % 1 April 1994 &...
In January 2010, Department of revenue replied to various points stated by empowered committee of state finance ministers in their report.I will discuss the comments by Department of revenue in three...
The quantum of export and import determine the fiscal health of a nation. A hassle-free system and absence of bureaucratic approach, is a barometer for measuring the economic altitude a country has ac...
Goods and Services Tax (GST) – Challenges for implementation by April 2010 To start with I am highlighting a quotation of Kautilya quoted by the Hon’ble Finance Minister in his Budget 2009 speech t...
T. C. A. Ramanujam A chronic problem concerning taxation of gains in real-estate transactions relates to the understatement with regard to the valuation of properties. The Government has tried s...
SERVICE TAXS Madhavan / New Delhi October 13, 2008, 0:35 ISTA recurring challenge in indirect taxation in India today is with regard to double taxation. The challenge exists within the tri...
SERVICE TAXS Madhavan / New Delhi September 29, 2008, 0:26 IST A works contract is a contract for work which involves both a transfer of property in, and hence a sale of, goods and als...
SERVICE TAX (SYNOPSIS) As per the Eighty-Eighth Amendment of the Constitution, vide the Constitution (88th amendment) Act, 2003, a scheme of taxing the services was introduced. The...
Mumbai June 17Inclusion of a new services category--Information Technology Software Services-- within the ambit of Service Tax legislation has created confusion among the software firms in...
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