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NEWS FLASH
 
Income tax - Whether when JV constituents are already taxed at maximum marginal rate, AOP would again be liable to be taxed - NO: HC (See 'Breaking News') Budget 2015 - Taxing reimbursable expenditure (See 'Budget Analysis') Inflation down - RBI reduces lending rate by 0.25% to 0.75% Service Tax? - Cinema Tickets - Taxable or Exempted? Is the Notification No.6/2015 correct? (See 'DDT' Column) Budget 2015 - Key Service Tax changes in chronological order - Part II (See 'Budget Analysis') HC decisions statutorily overruled - why this kolaveri, FM Sir? (See 'Budget Analysis') Ahead of Holi, AP and Telangana go dry as Income Tax seizes Liquor Depots (See 'DDT') I-T- Whether an assessment can be reopened merely on basis of objection raised by audit committee, which also has been duly answered by assessee (See'2015-TIOL-219') Calculation of Customs CESS - The mess (See 'Budget Analysis') I-T - Whether in case it is evident that same reasons which were basis for proceedings u/s 147, were also foundation for an admitted rectification u/s 154, reassessment can be made (See'2015-TIOL-535') Budget impact on Non-residents (See 'Budget Analysis') CBEC issues instructions relating to adjudication of cases booked by DGCEI (See 'What's New') IGI Airport Customs seizes gold worth Rs 23 lakh from pax coming from Riyadh RBI reviews all-in-cost ceiling for ECB & Trade Credits for Imports (See 'What's New') S B Singh appointed as Adviser in CBEC (See 'Service News') Budget Blues (See 'DDT' Column) Income tax - Whether assessee is entitled to claim interest u/s 244A on excess self-assessment tax paid u/s 140A - NO: HC (See 'Breaking News') 'And', 'or' game ended for good? (See 'Budget Analysis') Non-excisable goods - Rule 6 of CCR, 2004 amended - cogent or superfluous?(See 'Budget Analysis') Budget cares for healthcare (See 'Budget Analysis') Why is Notfn. 42/12-ST rescinded? (See 'Budget Analysis') Uneducated on Education Cess (See 'Budget Analysis') Recovery mechanism in rule 4 of CCR, 2004 (See 'Budget Analysis')
 
   
UNION BUDGET 2015-16

UNION BUDGET 2015-16


BUDGET ANALYSIS 2015-16

Budget 2015 - Key Service Tax changes in chronological order - Part II
By Pritam Mahure
Published: March 04, 2015

HC decisions statutorily overruled - why this kolaveri, FM Sir?
By S Sivakumar
Published: March 04, 2015

'And', 'or' game ended for good?
By G Natarajan
Published: March 03, 2015

Non-excisable goods - Rule 6 of CCR, 2004 amended - cogent or superfluous?
By K Prathiba & Shivam Mehta
Published: March 03, 2015

Budget cares for healthcare
By Vivek Sharma
Published: March 03, 2015

Budget 2015 - Taxing reimbursable expenditure
By Chandra Sekhar P S S & Preetika Shetty
Published: March 04, 2015

Calculation of Customs CESS - The mess
By G Natarajan & M Karthikeyan
Published: March 04, 2015

Budget impact on Non-residents
By Sunil D Shah & Mihir Vora
Published: March 04, 2015

Why is Notfn. 42/12-ST rescinded?
By P G James
Published: March 03, 2015

Uneducated on Education Cess
By Rohit Jain, Harsh Shah & Ruchita Shah
Published: March 03, 2015

DDT (Daily Dose of Taxation)

Service Tax? Cinema Tickets - Taxable or Exempted? Is the Notification No.6/2015 correct?

With VIJAY KUMAR

Service Tax? Cinema Tickets - Taxable or Exempted? Is the Notification No.6/2015 correct?
Published: March 04, 2015

View previous DDTs »

WHAT'S NEW
CUS
:
Not 06-11 NT 27 Cir 07
ADD
:
Not 06 SG: 04  
EX
:
Not 05-17 NT 03-11 Cir 1000
S.TAX
:
Not 03-09 Cir 181  
I-T
:
Not 13 Cir 03 itinst 02
DGFT
:
Not 113 PN 87 Cir16,17
RBI
:
Cir 80-81 Notif  
BREAKING NEWS

New Delhi, March 04
Income tax - Whether when the JV constituents are already taxed at maximum marginal rate, AOP would again be liable to be taxed - NO: HC

New Delhi, March 03
Income tax - Whether assessee is entitled to claim interest u/s 244A on excess self-assessment tax paid u/s 140A - NO: HC

New Delhi, March 01
RBI to notify Financial Services Centre at Gandhinagar; units to be treated as non-resident

Mumbai, February 27
ST - Clients who were serviced were non-residents and so services rendered are export services - such service to foreign clients paying consideration in forex would not visit respondent with liability to pay ST: HC

New Delhi, February 27
Economic Survey hints at mega reforms on anvil; competitive disadvantage for exports; fiscal deficit within control

MIXED BUZZ
XCuSE Updates
XCuSE
PUZZLE TO DAZZLE
Punit Vedby PUNIT PAVAN VED CA

Can larger bench of three judges of supreme court overrule decision of 2 judge bench by 2-1 majority?

Published: March 02, 2015

Post Answer »
THE COB (WEB)
My Budget Wish-List - What all Mr Jaitley can do!by SHAILENDRA KUMAR

My Budget Wish-List - What all Mr Jaitley can do!
Published: February 26, 2015

View previous 'The COB(Web)s'»
TIOL EDITORIAL
Take a decisive time-bound call on FFC's taxation & other reforms by TIOL EDIT TEAM

Take a decisive time-bound call on FFC's taxation & other reforms
Published: February 27, 2015

View previous Editorials»

ICE CUBES
by NARESH MINOCHA Govt should check facts before proclaiming itself as ace runner

Govt should check facts before proclaiming itself as ace runner
Published: February 27, 2015

View previous ICE CUBEs »

GUEST COLUMN

A Reality Check on Budget Expectations on Indirect Taxesby SUMIT DUTT MAJUMDER

A Reality Check on Budget Expectations on Indirect Taxes
Published: March 02, 2015

View previous Guest Column(s);

ST se GST tak

Union Budget 2015-2016 - 'Phool Aur Kaante' Budget by SOMESH ARORA

Union Budget 2015-2016 - 'Phool Aur Kaante' Budget
Published: March 02, 2015

View previous ST se GST tak(s)»

View 'ST - New Law +VE or -VE' Articles»

 
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    The Union Budget 2015 has not only hiked the effective tax rates for Central Excise and Service tax but has also proposed a slew of legislative amendments in the Act, Rules and procedures relating to registration, refund, adjudication and penalty. Although the expression retrospective amendment has assumed negative connotation in the context of Indian tax system but Mr Jaitley has resorted to the same for some positive end. He has retrospectively amended certain sections to give benefits to the harassed assessees. To understand the indirect tax proposals, Mr Shailendra Kumar and Mr Vijay Kumar spoke to two domain experts Ms Radha Arun, former IRS and a consultant and Mr S Suryanarayan, Director (Finance), Dr Reddy's Laboratories on various proposed changes.

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