SERVICE TAX – AUXILIARY EDUCATION SERVICE : 01-04-2013 TO 10-07-2014

Chartered Accountants / By

The Service Tax Department has initiated the process of issuing Show Cause Notices to Education Institutions for charging Service Tax on Transportation Fees and Hostel Fees charged by them from their Students, Staff and Faculty for the period from 01-04-2013 to 10-07-2014. As per information received, this entire process was initiated by a letter from the …

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HOW TO REGISTER A SUBSIDIARY COMPANY – FOREIGN FDI IN INDIA?

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The Government of India has taken several measures to facilitate FDI by Foreign Companies in India including simplified registration process, limited legal compliances, permission for FDI under Automatic Route (except for areas like Defence, Broadcasting, Multi Brand Retail, Telecom, etc.) where sectarian cap (FDI Limits) are prescribed. For a specific query on the Sector you …

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RELIEF GRANTED TO SEMI-STITCHED GARMENTS UNDER RAJASTHAN VAT FOR F.Y. 2016-17

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In the Budget for FY 2016-17, the Government of Rajasthan (GOR) has introduced VAT @ 5.50% on Semi Stitched Garments including w.e.f. 08-03-2016 along with a requirement of Form 40A (Road Permit) for importing these items from outside the state of Rajasthan. After several representations being given to the GOR in this matter by the …

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JEWELLERY MANUFACTURERS – EXCISE REGISTRATION DATE EXTENDED TO 01-07-2016

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The CBEC has extended the date for taking Registration by the Jewellery Manufacturers who are liable to be covered under the Central Excise net vide the Budget, 2016. Further the tax for the month of March, April, May are permitted tobe paid along with Tax of June, 2016. This is a positive sign in favour …

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EXCISE ON JEWELLERY MANUFACTURERS @ SITAPURA GEMS & JEWELLERY INDUSTRY ASSOCIATION

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It was our pleasure to address the Sitapura Gems & Jewellery Industry Association at the Indian Institute of Gems and Jewellery, Jaipur on 20-04-2016. The meeting was presided over by Sh. Vijay Chordia, President of the Association.   We discussed the the provisions of the Central Excise Law applicable on the Jewellery Manufacturers w.e.f. 01-03-2016, …

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ACTION PLAN FOR PROMOTING STARTUPs IN INDIA

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The concept of building a Start-Up environment in India and creating an eco-system for developing entrepreneurship in India, the Government has issued an Action Plan for the ‘STARTUP’s IN INDIA’. The various aspects of the action plan are noted below:- (A)  Registration:- In order to commence operations, Startups require registration with relevant regulatory authorities. Delays …

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TAXATION ON HOTEL & RESTAURANTS IN RAJASTHAN (F.Y. 2016-17)

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The Central Budget for the F. Y. 2016 has been presented in the Parliament on 29-02-2016 and the Rajasthan State Budget for F. Y. 2016 has been presented in the Vidhan Sabha on 08-03-2016. Accordingly, there are certain changes proposed in the Rates of various Taxes applicable on Hotels and Restaurants in Rajasthan. We are …

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INDIAN INCOME TAX RATE FOR F. Y. 2016-17 (A. Y. 2017-18)

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A quick review (Limited Information) of the applicable provisions under the income tax act after incorporating the amendments proposed by the Budget of 2016 are given below for ready reference and information of our clients:- (A) INCOME TAX CALCULATOR FOR F. Y. 2016-17 (A.Y. 2017-18) (I)  INDIVIDUALS / HUF / AOP / BOI General Category & …

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