| TOP NEWS Companies listed on stock exchange also to come under scrutiny u/s 115QA
Incentivisation of low cost foreign borrowings through Off-shore Rupee Denominated Bond
Sabka Vishwas Scheme
FDI in single brand retail sector - Local Sourcing norms to be eased
Budget grants Sec 35AD benefits to investments; more benefits for affordable housing
IIMs heave a sigh of relief - retrospective Service Tax exemption
No Service Tax on license fee for liquor license
Stand up India Scheme extended till 2025
Customs duty hiked on 36 items; Excise imposed on cigarette & crude
Surcharge on high income earners hiked; Incentive for e-vehicle purchasers
Long term lease of plots - retrospective Service Tax exemption
TDS on non exempt portion of life insurance pay-out on net basis - Budget offers benefits
5% TDS on payments exceeding Rs 50 lakh by individual or HUF for professional works
Bill proposes to hike threshold from Rs 3K to Rs 10K for launching prosecution
Income tax return can now be filed also with Aadhaar
SERVICE TAX CIRCULAR
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Provisions in the Cenvat Credit Rules 2004 regarding reversal of credit
CUSTOMS NOTIFICATIONS
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Seeks to further amend notification No 27/2011 - Customs dated 1st March 2011 to reduce the export duty on EI tanned leather and Hides, skins and leathers, tanned and untanned, all sorts
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Seeks to further amend notification No 14/ 2006 - Customs dated 1st March 2006 in order to change the classification of other d yed fabrics of nylon from “5407 42 00” to “5407 42”
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Seeks to further amend notification No 50/2017 - Cus toms dated 30th June, 2017 so as to prescribe effective rate of Basic Customs Duty (BCD)
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Seeks to further amend notification No 57/2017 - Customs dated 30th June, 2017 to explicitly exclude the specified electronic items from scope of entry at S.No. 6A of the notification and to provide the effective rates on other goods
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Seeks to further amend notification No 25/2005 - Cus toms dated 1 st March, 2005 to explicitly provide BCD exemption on the specified parts of line telephone handset
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Seeks to further amend notification No 25/2002 - Customs dated 1 st March, 2002 to exempt specified capital goods use for manufacture of specified electronic items
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Seeks to further amend notification No 25/98 - Cus toms dated 2nd June 1998 to update the classification of the goods in the notification
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Seeks to further amend notification No. 52/2017 - Customs dated 30 th June 2017 so as to increase the effective rate of Basic Customs Duty on petrol eum c rude
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Seeks to exempt specified defense equipment and their parts from Basic Customs Duty for a period of 5 years
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Seeks to increase the effective rate of Road and Infrastructure cess, as additional duty of customs, on petrol and diesel.
CENTRAL EXCISE NOTIFICATION
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Seeks to increase the effective rate of Special Additional Excise Duty on Petrol and Diesel
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Seeks to exempt crude petroleum oil produced in specified oil fields under production sharing contracts or in the exploration blocks offered under the New Exploration Licensing Policy (NELP) through international competitive bidding
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Seeks to increase the effective rate of Road and Infrastructure Cess as additional duty of excise on Petrol and Diesel
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Seeks to increase the basic excise duty on specified goods in chapter 24 under section 5A of the Central Excise Act 1944
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Seeks to further amend notification No. 11/2017 - Central Excise dated 30 th June 2017 so as to omit an entry with respect to chapter 24 |
