Transitional Provisions under Goods and Service Tax As Goods and Service Tax will bring in Business Transformation; it’s important to understand the Transitional Provisions to ensure that the proposed tax system takes care of existing tax credits, payments and should not be a “TAX COST” for the assessee’s in GST.
Will black money crackdown once declaration scheme ends ? CBDT has directed field formations to be ready to use the information, leaving out those who have declared under the Income Disclosure Scheme (IDS).
Goods and Service Tax – Export of Goods & Services GST is just result in Business Transformation not the change in Tax Structure . One would definitely witness the Growth in Exports with the introduction of GST.
Fall in the category of wilful defaulter or not ? The concept of ‘wilful’ and ‘non-wilful’ as categories of (bank loan) defaulters was introduced by the Reserve Bank of India (RBI), the country’s apex bank in the year 1999.
Hidden ambiguity on Cenvat credit on rent-a-cab Refusing to CENVAT credit on rent-a-cab services is good for revenue officers. Period till 01.04.2011, courts and tribunals allowed the credit however with action of specific exclusion in the definition of ‘Input service’ so as to disallow the credit on rent-a-cab services, most of the assessee’s became ineligible […]