The Goa Government has restructured the rates and consequently reduced luxury tax to give a major boost to the tourism sector facing adverse impact of worldwide recession. The new tax structure is expected to benefit small and medium hotels in the St ..
The Southern Indian Regional Council of the Institute of Chartered Accountants of India is organising a regional seminar on tax laws here on Friday. Mr Vayalar Ravi, Union Minister for Overseas Indian Affairs, will inaugurate the seminar. Mr M.Devara ..
The decision of the Maharashtra government to hike VAT (value-added tax) on mobile handsets could actually result in a drop in the state’s VAT collections, says Indian Cellular Association, the industry body for handset manufacturers.In the sta ..
The government is considering a proposal to restore the rate of service tax to its earlier level of 12%. The government had reduced the service tax rate to 10% in the third stimulus package which was unveiled in February. This option of withdrawing t ..
Members of the Securities and Exchange Board of India (Sebi) have suggested a phased reduction of the securities transaction tax (STT), as part of a package of measures to develop the capital markets that was discussed with Finance Minister Pranab Mu ..
The forthcoming Union Budget may extend the corporate tax holiday enjoyed by export-oriented units and software parks by three more years, as the government looks to clear the air for companies in these segments reeling under a demand slump in key We ..
Is selling mutual fund (MF) products a taxable service? The Supreme Court will decide the matter in an appeal filed by the Commissioner of Service Tax, who feels that the sale of mutual fund products amounted to service for the purpose of levy of ser ..
Even as an "additional tax" has been imposed, through an Ordinance the Ordinance has made it clear that this tax would not be applicable on items such as agricultural implements, fresh vegetables, salt, newsprint, bangles, handicrafts, PDS ..
Tax planning as opposed to tax evasion has legal sanction, and if a dealer plans his transactions in such a manner that he pays less tax, it is not open to the revenue to subject him to a conscience audit or moral assessment. The power to lift the v ..
The government has imposed a special duty on imports of compact discs-recordable (CD-Rs) from Iran, Thailand and Korea. The Central Board of Excise and Customs, the apex body for indirect taxes, has notified the levy of anti-dumping duty which is an ..
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