Simplifying Taxation in India
With effect from 1st July 2012, there has been a marked departure in the scheme of taxing services from the erstwhile positive list regime. As a consequence, all the allied rules and provisions had been amended. As bizarre as it may sound, a combined reading of the charging section under the Finance Act and definition … Read more
The Prime Minister & Chairman of the newly constituted National Institution for Transforming India (NITI), Shri Narendra Modi has convened a meeting of eminent experts on 6th February at NITI Aayog for interaction on the subject of the state of economy and for inviting suggestions on the forthcoming budget. The Honourable Finance Minister would conduct … Read more
1. ABOLISH Cesses : The levy of 2% Education Cess and 1% Secondary & Higher Education Cess should be abolished and merged into basic duties. These levies are causing complications in documentation, credit availment and accounting. To overcome such hardships, it is suggested that the rates of the main duty be rationalized to the extent of … Read more
The General Budget will be presented on February 28, a Saturday, in the Budget session of Parliament beginning February 23 during which the government will also seek to convert six recent ordinances into legislation. Parliament will have a special sitting on Saturday, a holiday, for Finance Minister Arun Jaitley to present the Budget which will … Read more