Gujarat’s income tax collection may rise by 18% this fiscal
Gujarat’s income tax collection may rise by 18% this fiscal
Earlier Posts
FAQs: TDS Provisions under Gujarat VAT Laws
December 7, 2009
The Gujarat VAT Amendment Act of 2009 has introduced a new provision for obtaining Tax Deduction Account Number (TDN) by the person who awards works contracts exceeding Rs.1 crore. Let us revisit the provisions of TDS on Works Contracts under the Gujarat VAT laws through the following FAQs: 1. Who
Highlights of Foreign Trade Policy 2009-14
August 29, 2009
Higher Support for Market and Product Diversification 1. Incentive schemes under Chapter 3 have been expanded by way of addition of new products and markets. 2. 26 new markets have been added under Focus Market Scheme (FMS). 3. Incentive available under FMS raised from 2.5% to 3%. 4. Incentive available
Corporate Laws: Recent News Snippets
August 27, 2009
MCA plans system in 2 months to detect fraud in early stages According to an official of the ministry of corporate affairs, who did not wish to be identified, a seven-member internal committee headed by an additional secretary of the ministry of corporate affairs (MCA) has been working to evolve
Direct Taxes: Recent News Snippets
August 26, 2009
New Draft Direct Taxes Code released As promised by the finance minister in his Budget Day speech in July, the New Draft Direct Taxes Code was released for public discussion on August 12. The stated intent is to fulfil the long-standing and ambitious plan of simplifying the country’s complex direct
Investment in Art – the hidden cost that hurts
August 26, 2009
What pinches is the value you actually pay above the final price of a work of art. Let us for the moment ignore whether these are good times or bad times for buying art. Instead, let’s ask: What is the art you buy really worth? Or, put another way —
Gujarat VAT Pending Returns – deferment of new penalty provisions
August 26, 2009
Recently The VAT Department has issued one circular that if any Monthly, Quarterly or Annual Returns are pending since 01.04.2006, and if the dealer submits such pending returns on or before 30.09.2009, the Department will levy penalty as per old Rules i.e. Rs.100/- per month. After 30.09.2009, penalty will be
Gujarat VAT Amendments – Enacted w.e.f. 1-Aug-2009
August 4, 2009
As informed to you through our Circular dated 27-Jul-09, the Gujarat VAT (Amendment) Bill, 2009 (No. 18/2009) is enacted w.e.f. 1-Aug-09. In continuance thereof, your attention is further drawn to the following Amendments & Notifications: 1. Penalty for late submission of return is prescribed as under. (A) Penalty for Return
Gujarat VAT (Amendment) Bill, 2009 (No. 18/2009)
July 27, 2009
In the referred Bill, following important amendments are proposed which are likely to come into force w.e.f. 01/08/2009: Entry No. 9 of Schedule II for Brass Parts & Entry No. 18 of Schedule II for (i) Chemicals of All types & (ii) Solvent are deleted. Hence the said items will
Recent Posts
- Family Trusts as a tool for Business Succession Planning
- Income Tax deduction for procurements from MSMEs only upon actual payment
- Foreign companies may be required to file Tax Returns in India
- How Cryptocurrencies Are Taxed In India
- Constitution Of The GST Appellate Tribunal – Need For Speedy Judicial Remedy