Budgetary Changes in domain of Indirect Tax which includes Central Excise , Custom and Service Tax
Budgetary Changes in domain of Indirect Tax which
includes Central Excise , Custom and Service Tax
This is basically an attempt to put everything in capsule so
that one can quickly have a brush up on the changes in a go .No change
in peak rate of Customs (10%), Central Excise (12%) and Service tax rates (12%).
UNION BUDGET
2013: CHANGES UNDER THE EXCISE ACT, 1944 (“the Excise Act”) and THE EXCISE
TARIFF ACT, 1985 (“the Excise Tariff”)
Exemption from excise duty granted to the following
goods:
Tapioca starch falling under Chapter 11 of the Excise
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Section 14A has been introduced in the Act to say that expenses incurred to earn the amount, which is exempted from tax, would not be entitled to a deduction.
Section 14A has been introduced in the Act to say
that expenses incurred to earn the amount, which is exempted from tax, would not
be entitled to a deduction.
Where High Court without giving any interpretation of
section 14A allowed assessee's claim for deduction of expenses
Section 14A has been introduced in the Act to say that expenses incurred to earn the amount, which is exempted from tax, would not be entitled to a deduction.
DGFT: Creating Loopholes & exploitation is the hallmark of the Foreign Trade Policy
Indian Rupee Exchange Rate
