Marico, the manufacturer of the country’s largest hair-oil brand Parachute, is contemplating legal action against a recent Central Board of Excise & Customs (CBEC) circular which says that companies will have to pay 8% excise on coconut oi ..
The Finance Bill proposes some changes in the Customs laws, two of which are noteworthy. One relates to refund of duty on imported goods found to be defective and the other relates to retrospective amendment to notification dealing with Duty-Free Imp ..
LLP is a new corporate form that enables professional expertise and entrepreneurial initiative to combine, organize and operate in an innovative and efficient manner. In India, this need has long been recognised for businesses which may require a fra ..
Law firms are exploring separating advisory and litigation businesses to insulate themselves from a higher service tax outgo that was ..
The Centre has no plans to bring down the ceiling rate on the Central Sales Tax (CST) from the existing two per cent to one per cent during the current fiscal.This inter-State tax is likely to be phased out in one go at the time of introduction of Go ..
The I-T department has lost the opportunity to recover revenues running into thousands of crores after failing to file its appeals before the Bombay High Court within the stipulated period of 120 days. The Bombay High Court has dismissed about 400 ap ..
The Institute of Chartered Accountants of India, Eastern Regional Council, has organised here a two-day national conference to deliberate on the relevant implications of various provisions of direct taxes and the best practices across the globe. The ..
The Lok Sabha was informed on Friday that the Government had no plans to do away with the Securities Transaction Tax (STT), despite demands for its removal. In 2009-10, the Government expects to garner about Rs 6,000 crore from STT, the Union Financ ..
The Finance Ministry has come up with an innovative proposal to expand the use of permanent account numbers (PAN) and, thereby, widen the tax base in the country.Budget 2009-10 seeks to amend the income-tax law to specify that tax would be deducted ..
The Income-Tax Department has lost the opportunity to recover revenue running into thousands of crores after failing to file its appeals before the Bombay High Court within the stipulated period of 120 days. The Bombay High Court has dismissed about ..
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