To reduce compliance cost, The number of returns to be filed in central excise, above a certain limit, has been reduced from 27 to 13 (1 annual and 12 monthly returns). This will help in reducing the compliance costs. The monthly returns were already in the provisions to file. For filing Annual return, CBEC will […]
Read More »With the green signal to Constitution Amendment Bill for rolling out the GST, several sectors have begun lobbying for exemption from the new tax. Renewable energy, where most of the equipment is imported, Solar power equipment enjoys zero customs duty, while a 5% duty is levied on importing wind energy equipment. “Imported solar panels will […]
Read More »Assam has become the first state to pass Constitution Amendment Bill on GST. The state assembly unanimously passed the Bill on Friday following its passage by both Houses of Parliament. Though opposition Congress and AIUDF MLAs supported the Bill, they had earlier sought a discussion in the Assembly to evaluate GST’s impact on Assam and […]
Read More »The Rajya Sabha passed the amendments to the Maternity Benefit Act that seeks to provide 26 weeks of maternity leave to working women and 12 weeks to commissioning mothers and introducing an enabling provision of “work from home” for nursing mothers. The Union Cabinet chaired by Prime Minister Narendra Modi gave its ex post facto […]
Read More »Ambika Savaria & Ors. Vs. Sanjay Sharma & Ors. A Civil Suit was filed by the predecessors of Ambika Savaria and sought and eviction of the predecessors of Respondent from suit house on grounds for reconstruction and for bona fide need. Respondent denied the ownership of appellant over the suit property in the written statement […]
Read More »Rajya Sabha MP Subramanian Swamy has written to Prime Minister Narendra Modi, urging him to review the UPA government’s decision to outsource data management and computation of tax share to a private entity. In his letter to the PM, Swamy said that this was a swift and secret move on the part of the […]
Read More »According to Goa Chamber of Commerce and Industry, Introduction of the GST will attract new investments in coastal state of Goa in the manufacturing sector on account of its better infrastructure. With introduction of GST, exemptions regime will come to an end. This will also benefit Goa in the long run. According to GCCI, GST […]
Read More »Press Information Bureau Government of India Ministry of Finance Frequently Asked Questions (FAQs) on Goods and Services Tax (GST) Following are the answers to the various frequently asked questions relating to GST: Question 1.What is GST? How does it work? Answer: GST is one indirect tax for the whole nation, which will […]
Read More »What shall be considered as Startup? Ø An entity shall be considered as a ‘startup’: Till five years from the date of its incorporation / registration; If its turnover for any of the financial years has not exceeded rupees 25 crore, and It is working towards innovation, development, deployment or commercialization of new products, processes […]
Read More »What is Central Registration Centre (CRC)? The Central Registration Centre (CRC) is an initiative of Ministry of Corporate Affairs (MCA) in Government Process Re-engineering (GPR) with the specific objective of providing speedy incorporation related services in line with global best practices. What services are offered by the CRC presently? CRC is presently tasked to process […]
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