Shaleen Shah

Equalisation Levy is going to create a huge problem for startups

January 2, 2017

GST·Income Tax·Service Tax & CBEC·Startup India

[Source: www.forbesindia.com] Tax lawyer Nishith Desai believes the Equalisation Levy, also known as ‘Google Tax’, will have important repercussions for the Indian startup ecosystem As part of the continuing opposition from industry bodies to the ‘Equalisation Levy’ that came into effect earlier this year, the Internet and Mobile Association of India (IAMAI) and law firm Nishith Desai Associates, in a

GST

GST set to miss the April 1, 2017 deadline

Pre-Budget `09 Whispers

When the FM presents his full Budget on 6th July `09, his

Understanding The Benami Law In India: FAQs

[Source: www.mondaq.com; Article by Bharat Chugh and Kushank Sindhu, Luthra & Luthra

Time reduced for filing Gujarat VAT Returns

November 16, 2015

Gujarat VAT & CST

The Gujarat VAT Rules stipulate a period of 30 days for e-filing of monthly / quarterly returns from the end of the relevant period. Since e-filing of returns was new at that point of time, the State Government had granted relief by giving additional time for filing E-Returns. Now through

Rate of service tax further increased with levy of Swachh Bharat Cess from 15-Nov

November 9, 2015

Service Tax & CBEC

Budget 2015 had provided for a new levy viz. Swachh Bharat Cess (SBC) on all taxable services effective from the date to be notified at a rate not exceeding 2%. Now, CBEC vide Notification No. 21/2015-ST dated 6-Nov-2015 has provided that SBC would be leviable @ 0.5% on value of

Intangibles–ambiguity between VAT & Service Tax

September 10, 2015

Gujarat VAT & CST·Service Tax & CBEC

[Source: forbesindia.com; Author: Rajeev Dimri, Leader, Indirect Tax, BMR & Associates LLP] Levy of service tax on provision of ‘services’ and value added tax (VAT) on sale of ‘goods’ is clearly demarcated and may look simple enough to the uninitiated. However, this simplistic differentiation regarding the nature of levy becomes

ITC cannot be denied where registration is cancelled retrospectively–Gujarat HC

September 2, 2015

Gujarat VAT & CST

Under Gujarat VAT Act, amongst other conditions, the purchasing dealer can claim input tax credit (ITC) only if the purchases are made from another registered dealer. In cases where the assessee had purchased the goods from a dealer who was a registered dealer and, subsequently the registration of the said

SC notice to BG, Reliance Industries, ONGC in Rs 4,000-cr sales tax matter

July 22, 2015

Gujarat VAT & CST

The Supreme Court on Monday sought response from British Gas (BG) and two other companies — ONGC and Reliance Industries — on the Gujarat government’s appeal seeking to levy sales tax to the tune of around Rs 4,000 crore on them for bringing gas to Hazira from Panna-Mukta-Tapti (PMT) field,

Government says US return IT professionals need to declare 401k account

July 9, 2015

Income Tax

Originally Published in www.economictimes.com Anyone who’s worked in the US and opened a 401k account may need to inform the Indian tax authorities or face harsh penalties under the black money law that came into force on July 1. Thousands of India’s IT professionals and others who’ve worked overseas will

Budget 2015 – increase in service tax rate to 14% notified w.e.f. 1-Jun-2015

May 22, 2015

Service Tax & CBEC

[By Shaleen Shah (Partner), VNCA] In our Circulars on Budget 2015 as applicable to service tax, in the First Part, we had informed you the changes made effective immediately from 1-Mar-2015 and changes effective from 1-Apr-2015. In the Second Part we informed you the Budget amendments that became effective immediately

Budget 2015 enacted on 14-May-2015 – Service Tax Amendments effective from enactment

May 16, 2015

Service Tax & CBEC

[By Shaleen Shah (Partner), VNCA] Downloadable PDF The Finance Bill, 2015 has received the Presidential assent on 14-May-2015 and stands enacted. In the First Part of our Budget Circular on Service Tax, we had informed you the changes made effective immediately from 1-Mar-2015 and changes effective from 1-Apr-2015. Following amendments

The Entire Law On Taxation of Undisclosed Foreign Income and Assets

May 4, 2015

Featured·Income Tax

[Author: CA. P.N. Shah, Past President ICAI; Source: www.itatonline.org] 1 Background The Finance Minister, while presenting his Budget on 28th February, 2015, has divided his tax proposals under six heads. One of this relates to “Measures to Curb Black Money

Gujarat VAT Forms 402 / 403 / 405 made mandatory

April 29, 2015

Gujarat VAT & CST

Gujarat VAT Rules stipulate that every inter-state movement of goods must be accompanied by Form 402 (goods going out of the state), Form 403 (goods coming into the state) and Form 405 (goods transiting the state). Last year, the Gujarat VAT Department made it mandatory for certain categories of Dealers

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Shaleen Shah

Equalisation Levy is going to create a huge problem for startups

GST set to miss the April 1, 2017 deadline

Pre-Budget `09 Whispers

Understanding The Benami Law In India: FAQs

Time reduced for filing Gujarat VAT Returns

Rate of service tax further increased with levy of Swachh Bharat Cess from 15-Nov

Intangibles–ambiguity between VAT & Service Tax

ITC cannot be denied where registration is cancelled retrospectively–Gujarat HC

SC notice to BG, Reliance Industries, ONGC in Rs 4,000-cr sales tax matter

Government says US return IT professionals need to declare 401k account

Budget 2015 – increase in service tax rate to 14% notified w.e.f. 1-Jun-2015

Budget 2015 enacted on 14-May-2015 – Service Tax Amendments effective from enactment

The Entire Law On Taxation of Undisclosed Foreign Income and Assets

Gujarat VAT Forms 402 / 403 / 405 made mandatory

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