Daily Archives: August 3, 2016

Introduction of GST : Tax Reforms

By | August 3, 2016

TAX REFORMS:INTRODUCTION OF GOODS AND SERVICES TAX INFORMATION BULLETIN NO.LARRDIS(EF)2014/IB-11, DATED DECEMBER 2014 Introduction The Kelkar Task Force on the implementation of Fiscal Responsibility and Budget Management (FRBM) Act, 2003, had pointed out that the existing system of taxation on goods and services suffers from many problems and, therefore, suggested a comprehensive Goods and Services… Read More »

History of GST in India

By | August 3, 2016

History of GST in India What are the major chronological events that have led to the introduction of GST? History of GST  India : 13 years Long Journey GST is being introduced in the country after a 13 year long journey since it was first discussed in the report of the Kelkar Task Force on… Read More »

Proposed Taxes at Centre and State to be subsumed into GST

By | August 3, 2016

Which taxes at the Centre and State level are being subsumed into GST? At the Central level, the following taxes are being subsumed: Central Excise Duty, Additional Excise Duty, Service Tax, Additional Customs Duty commonly known as Countervailing Duty, and Special Additional Duty of Customs. At the State level, the following taxes are being subsumed:… Read More »

Benefits of GST in India

By | August 3, 2016

Benefits of GST Benefits of GST for business and industry o   Easy compliance: A robust and comprehensive IT system would be the foundation of the GST regime in India. Therefore, all tax payer services such as registrations, returns, payments, etc. would be available to the taxpayers online, which would make compliance easy and transparent. o   Uniformity… Read More »

FAQs on GST Released by Govt

By | August 3, 2016

Ministry of Finance 03-August, 2016 Frequently Asked Questions (FAQs) on Goods and Services Tax (GST) Following are the answers to the various frequently asked questions relating to GST: Question 1.What is GST? How does it work? Answer: GST is one indirect tax for the whole nation, which will make India one unified common market.  GST… Read More »

Draft Agreement for Sale under the Real Estate Act 2016 Released by Govt

By | August 3, 2016

 Draft Agreement for Sale under the Real Estate Act 2016 DRAFT No. O-17034/18/2009-H (Vol. X) / FTS No. 16083 Government of India Ministry of Housing & Urban Poverty Alleviation (Housing Section) Room No. 220, C Wing, Nirman Bhawan, New Delhi – 110 011 Dated August 02, 2016 Subject:  Draft Agreement for Sale under the Real… Read More »

NCLT Appeal Filing Procedure

By | August 3, 2016

NCLT Appeal Filing Procedure ( NCLT Appeal Filing Procedure As per National Company Law Tribunal Rules 2016) Sitting hours of NCLT The sitting hours of the Tribunal shall ordinarily be from 10:30 AM to 1:00 PM and 2:00 P.M. to 4:30 PM, subject to any order made by the President. Working hours of NCLT  (1) Except… Read More »

e-Visa facility

By | August 3, 2016

e-Visa facility e-Tourist visa facility is presently available to the nationals of 150 countries at 16 designated international airports in India. E-Tourist visa can be granted for a period of 30 days with single entry. Further, e-tourist Visa can be availed only twice in a calendar year. On e-tourist visa, foreign nationals are permitted recreation,… Read More »