Introduction:- With the hype created regarding implementation of revolutionary taxation reform, i.e., GST in the financial year 2016-17, the government attempted to mentally prepare the assessees as regards substantial reduction in the exemptions available. This is reflected by the levy of excise duty on jewellery except pure silver jewellery. Furthermore, government has also withdrawn exemptions … Read more
Budget 2016-17 is dedicated to our farmers, the State Government of Maharashtra has decided to observe the financial year 2016-17 as “Shetkari Swabhiman Varsh” and significantly higher provision of nearly Rs. 25 thousand crores is made for various schemes in Agriculture sector. Drought Relief : Emphasis on dry land farming, accelerated development of infrastructure, … Read more
Now a day, there is a trend among the young people to leave jobs and to start their own business. It is a really great thing to becoming the job provider instead of job seekers. But, if you preparing for leaving the job and are planning for own a business, then you have to complete … Read more
It was proposed in the Central Excise Tariff Conference that the time limit for issuing show cause notice under normal period of limitation should be increased and it appears that the suggestion has been considered by the government in this Budget. In this budget, the government has amended section 73 of the Finance Act wherein … Read more
START UP INDIA. BENEFITS AND CHALLENGES Start Up: The common man understands the word start up that when he starts any business. And the same is exactly true. But this word “START UP” is the word of every mouth since January 16, 2016. Because our Prime Minister Narendra Modi has unveiled a policy for the … Read more
Introduction:- The Budget, 2016 was presented before the country on 29 February 2016 by the Finance Minister Shri Arun Jaitley which bought with it some issues as well as various reliefs. In this article, we will discuss the relief granted on registration aspect to the two or more premises of the same factory. Situation prior … Read more
Introduction:- It is the most expensive amendment ever… Yes, now by virtue of amendments made by Budget, 2016; excise duty is being levied on articles of jewellery [excluding silver jewellery, other than studded with diamonds/other precious stones]. Thus, all the jewellery items except pure silver jewellery will now be subject to excise duty w.e.f. 1.3.2016. … Read more
INTRODUCTION Growth of Economy accelerated to 7.6% in 2015-16. India hailed as a ‘bright spot’ amidst a slowing global economy by IMF. Robust growth achieved despite very unfavourable global conditions and twoconsecutive years shortfall in monsoon by 13% Foreign exchange reserves touched highest ever level of about 350 billion US dollars. Despite increased devolution to … Read more
With the budget round the corner, the consultants are busy making representations whether it be related to rectification of apparent mistakes in the notifications or whether it be related to amendments desired in particular sectors. There is a huge wish-list of assessees operating in respective sectors but whether the pleas of the assessees will be … Read more
ICAI elects New Torch-Bearers for the year 2016-17 The Institute of Chartered Accountants of India (ICAI) is a statutory body established by the Chartered Accountants Act, 1949 for the regulation of the profession of Chartered Accountants in India. The affairs of the ICAI are managed by a Council in accordance with the provisions of the … Read more