GST Council introduces 4-Tier Tax Structure- Minimum rate 5%; Maximum 28%
Today’s GST Council meeting finalised the 4-tier Tax Structure in the GST regime, in which four different tax rates are fixed for goods. The new tax rates of 5, 12, 18 and 28 per cent
Govt Notifies Hike in GST Threshold Limit [Read Notification]
The Central Government, on Thursday notified the increase in GST threshold limit in a relief for small traders. The increased threshold limit will be applicable from 1st April 2019. Further, the effective date for availing
Finance Minister takes a serious view of the resolution by Income Tax Officers against Revenue dept.
The Ministry of Finance has learnt through a newspaper item which appeared today that some officers of Indian Revenue Service (Income-tax) Mumbai Branch have passed a resolution against the Department of Revenue. The Finance Minister
Proud Moment for Chartered Accountants: A CA is presenting Budget this Year
It is a Proud moment for Chartered Accountant fraternity that, a Chartered Accountant and Union Finance Minister Piyush Goyal will present the Budget in Parliament today. As the Loksabha elections are scheduled in May, this
No Marginal Relief in case of Health and Education Cess: CBDT [Read Circular]
The Central Board of Direct Taxes (CBDT) has clarified that no marginal relief shall be available in Health Cess (HC) and Education Cess (EC). EC is an additional levy on the basic tax liability. The
ICSI releases Secretarial Standards on Meetings of the Board of Directors & General Meetings
The Institute of Company Secretaries in India (ICSI) recently issued Secretarial Standards on Meetings of the Board of Directors which prescribes a set of principles for convening and conducting Meetings of the Board of Directors,
Govt to Establish a Unified Authority for regulating all financial services in IFSCS in India
The Finance Minister Shri Arun Jaitley has said that his Ministry will leverage the India Infrastructure Finance Corporation Limited (IIFCL) to help finance major infrastructure projects, including investments in educational and health infrastructure, on strategic
Companies Act 2013 to be amended to facilitate Ease of Doing Business
A Bill shall be introduced in the current Budget session of the Parliament in order to amend the Companies Act 2013. While presenting the General Budget 2016-17 in Lok Sabha today, the Union Finance Minister
GST Council gives green signal to Compensation Bill
The Goods and Services Tax (GST) council today gave green signal to a bill that will ensure compensation to the states in case of revenue losses arising from a transition to GST. In a press
Budget 2018 proposes to Increase Customs Duty on Mobile Phones from 15% to 20%
In the first General Budget 2018 after the roll-out of the Goods and Services Tax (GST), the Union Minister for Finance and Corporate Affairs, Arun Jaitley, made a calibrated departure from the underlying policy in
Black Money would be Taxable at Higher Rates; Jaitley on Demonetisation, IDS & Cashless Economy
Following is the full Text of the Article entitled “Demonetisation – A Look Back at the last Two Months” by the Union Finance Minister Arun Jaitley: “Two months have passed since the Prime Minister announced the decision
FM faced with excessive hopes on ‘Solve-All’ Budget: ASSOCHAM
Meeting excessive expectations riding on the forthcoming Union Budget, being seen as a ‘Solve-All’ big mover in the aftermath of demonetization, could be a challenging task for the Finance Minister Arun Jaitley who has to
GST will not increase Compliance Burden, says Revenue Secretary Hasmukh Adhia
The Revenue Secretary Hasmukh Adhia today said that GST would not increase compliance burden on assesses. "Many people think that implementation of GST would result in increase in compliance cost. This is completely misplaced," While
Major Recommendations by GST Council in its 22nd Meeting
The GST Council, in its 22nd Meeting which was held today in the national capital under Chairmanship of the Union Minister of Finance and Corporate Affairs, Arun Jaitley has recommended the following facilitative changes to ease
Budget 2017: Finance Minister announces Several Anti Graft and Rationalisation measures in the field of Income Tax
Accountants or merchant bankers furnishing incorrect information to face penalty.  Income of the Chief Minister’s Relief Fund and the Lieutenant Governor’s Relief Fund to be exempt from tax. Concessional tax rate of 10 per cent