201702.07
0
0

Budget 2017 Proposed Changes in Laws in India

Budget 2017 Proposed Changes in Laws in India The budget has proposed various changes in law as below : 1.Merger of Tribunals 2.Confiscation of Assets of Economic offenders 3.Repeal of Research and Development Cess Act, 1986 4.Income Tax- Harsh Provisions 5.Goods & Services Tax  6.Abolition of FIPB 7.Arbitration 8.Amendment in Negotiable Instruments Act 9.Amendment to…

201702.07
0
0

GST Rate Slabs

GST Rate Slabs The  GST rate slabs which is emerging to be imposed on various sectors are as below : 1.Telecom-18%, 2. Banking-18% 3.Financial Services-18% 4.Aviation-18% 5.DTH-18% 6.Restaurant Dining – 18% 7. Education-12% 8.Healthcare -12% 9. Construction of Affordable Housing-12%. The levy of  of 18% GST on telecom, banking, financial services, dining & aviation will result…

201702.03
0
0

GST And How It Works

GST And How It Works GST means Goods & Services Tax . GST And How It Works It will subsume various indirect taxes and result the onset of new tax regime in India. GST will result one rate of tax on a product or service in entire territory of India.  The new tax of GST…

201702.01
0
0

Budget 2017- Goods and Services Tax

Budget 2017- Goods and Services Tax The Union Budget 2017, as expected has neither proposed anything substantive on indirect taxes nor has resulted any change in the existing indirect tax laws . The entire budget could however reflect a strong will to implement GST at an earliest possible date. Goods & Services Tax The Budget as presented…

201702.01
0
0

Budget 2017- Changes in Income Tax

Budget 2017- Changes in Income Tax The budget 2017, presentd on 1st Feb 2017 has proposed to bring  folowing changes under Income Tax . 1.No cash transactions is allowed above Rs 3 lakh. 2.MSMEs with 50 crore turnover will get a 5% reduction in corporate income tax i.e 25% . 3.Income Tax rate for annual income between…