The Institute of Chartered Accountants of India ( ICAI ) has proposed twelve new Accounting Standards for Local Bodies. The Institute has been formulating accrual-based Accounting Standard for Local Bodies (ASLBs) since March 2005 to

A division bench of the Bombay High Court, on Tuesday said that Local Body Tax (LBT) cannot be levied on E-Reacharge. However, the Court upheld the levy of LBT on SIM Cards and recharge coupons

The Institute of Chartered Accountants of India ( ICAI ) has issued Accounting Standards for Local Bodies. The Committee on Accounting Standards for Local Bodies (CASLB) is formulating Accounting Standards for Local Bodies (ASLBs) since March,

The Fifteenth Finance Commission today held a meeting with Union Minister Shri Hardeep Singh Puri and senior officials of the Ministry of Housing & Urban Affairs (MoHUA) on issues including property taxation by Urban Local

The Reserve Bank of India (RBI) issued the directions banning the Member of Parliament or State Legislature or Municipal Corporation or Municipality or other local bodies from being the Directors in Urban Co-operative Banks. The

The State Government, on Thursday, modified the concerned rules granting the power to the local bodies to determine the compensation to them for the loss of revenue due to the implementation of the Goods and

Under the Goods and Services Tax (GST), the Local Bodies of the Gujarat state will have the power to collect Entertainment Tax. The State Legislative Assembly yesterday unanimously passed a Bill empowering local governing bodies,

The Kerala State Finance Minister Thomas Isaac has recently asked all the local bodies to depute an officer or Financial Expert to become GST compliant, besides issuing guidelines on the incidence of Goods and Services

The price for movie tickets in the Kerala State to become expensive from today as the Government allowed the local bodies to collect entertainment tax on the same in addition to GST. Though a government

The Vice President of India, Shri M. Venkaiah Naidu today appealed to the Finance Commissions and local bodies to encourage green buildings through various measures including tax incentives. He also wanted all states to create

The Karnataka Authority of Advance Ruling (AAR) ruled that the pure consultancy services provided to Municipalities and Corporations are exempted but 18% GST applicable on consultancy services provided to private individuals. The Applicant, Vimos Technocrats

In a bid to bolster the financial health of local self-governing bodies, the Goa State Finance Commission (GSFC) is considering the introduction of a 'Professional Tax.' This proposed levy targets professionals operating within the jurisdictions

The Rajasthan High Court has held that the procuring entity and first appellate authority cannot be the same in municipal corporation tenders and set aside the tender on apprehension of bias. Yashi Consulting Services Pvt.

With the implementation of the Goods and Services Tax (GST), the Tamil Nadu government on Saturday introduced a bill to repeal the Tamil Nadu Entertainments Tax Act 1939 as the tax is subsumed in the new indirect tax regime.

The Central Government recently notified the list of exempted services under the Union Territory Goods and Services Tax (UTGST) Act. Services by way of transfer of a going concern, services provided to Central, State, Union