The wealth tax levy is proposed to be abolished wef April 1, 2016. The abolishment is, however, to be compensated from enhanced surcharge on the high net worth persons. Thus, a higher surcharge of 12% has been proposed on individuals having income in…
Category: Budget
TDS to be deducted from Transporter U/s 194C- Applicable from 1st June, 2015
It is Proposed in Finance Budget 2015 that Under the existing provisions of section 194C of the Act payment to contractors is subject to tax deduction at source (TDS) at the rate of 1% in case the payee is an individual…
Download Full Budget of West Bengal
Budget of West Bengal state presented on 27th February, 2015 by Dr. Amit Mitra Finance Minister In-Charge West Bengal. Download The Full Budget Statement from the Link Below. Download the Budget Statement West Bengal Share on: whatsapp
VAT Audit relief to MSME Under WB VAT
Dr. Amit Mitra Finance Minister In-Charge West Bengal Said in his Budget speech that audit report by a chartered accountant has to be compulsorily filed by the dealers. We had earlier provided relief to small dealers by gradually increasing the…
Amnesty Scheme for registration to Un registered Dealers under WB-VAT
Budget of West Bengal state presented on 27th February, 2015 by Dr. Amit Mitra Finance Minister In-Charge West Bengal. He Said in his Budget speech that despite our past initiatives to bring big unregistered dealers under the tax fold, some dealers…
Service Tax Rules, 1994 — Various changes — 05/2015
In exercise of the powers conferred by sub-section (1) read with subsection (2) of section 94 of the Finance Act, 1994 (32 of 1994), the Central Government hereby makes the following rules further to amend the Service Tax Rules, 1994,…
Recovery of arrears in installments and amendment of Garnishee Notice-Excise Duty
Circular No. 996/3/2015-CX dated the 28th Feb., 2015 F. No. 207/02/2015-CX.6 Your attention is invited to provisions of sub-section (2) of section 11 of the Central Excise Act, 1944. Central Excise Officers are empowered under this provision to issue an order to…
Goods & Service Tax (GST) will become from April 2016
The Finance Minister in his Budget said that The debate whether to introduce a Goods and Services Tax (GST) must now come to an end. We have discussed the issue for the past many years. Some States have been apprehensive about surrendering their…
Union Budget 2015 — Changes in Service Tax
The Finance Minister has, while presenting the Union Budget 2015–16, introduced the Finance Bill in the Lok Sabha on the 28th of February, 2015. Clauses 105 to 116 of the Bill cover the amendments made to Chapter V of the…
Union Budget 2015 — Changes in Central Excise and Customs
The Finance Minister has introduced the Finance Bill, 2015 in Lok Sabha today, i.e., 28th February, 2015. Changes in Customs and Central Excise law and rates of duty have been proposed through the Finance Bill, 2015 (clauses 80 to 89,…