Articles by MONISH BHALLA
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Highlights of the Changes in Customs in the Union Budget 201
MONISH BHALLA 03 March 2010 at 10:491. The following changes are made in the duty structure applicable to crude petroleum and refined petroleum products:(i) basic customs duty on crude petroleum increased from Nil to 5%. (ii) basic customs duty on Motor Spirit (petrol) and HSD
Back to Square One
MONISH BHALLA 03 March 2010 at 10:48The Authority for Advance Rulings, New Delhi in the case of Harekrishna Developers, STO 2008 AAR 87 observed that the activity of building a residential unit on an earmarked plot in the Complex and making Construction thereon as per the plan, desi
Highlight of the changes proposed in Central Excise in the Budget
MONISH BHALLA 02 March 2010 at 11:151. The excise duty of all goods which attracted 8% Central Excise duty previously will now be taxed at 10%. 2. The rates of duty on cement manufactured by units other than Mini Cement Plant in packaged form and bulk form have also been revised upwa
Budget 2010 displeased Indirect Tax payers
MONISH BHALLA 02 March 2010 at 11:15The reaction over budget 2010 is on air now. The Finance Minister has failed to cheer assessee of Indirect Taxes. Even the matter for implementation of the proposed GST has been deferred for one more year. The Finance Minister addressed to certai
Heads I win, tails you lose, says FM
MONISH BHALLA 28 February 2010 at 14:39Budget 2010 is likely to get a variety of reaction from different sectors. For the "aam admi", it is not a khaas budget and for the khaas admi, it is nothing more than an aam budget. Experts view it in a different prospective. Budget 2010
New Services proposed in the Union Budget 2010
MONISH BHALLA 28 February 2010 at 14:39List of the eight new Services proposed Promoting, marketing or organizing of games of chance, including lottery [Section 65 (105) (zzzzn)] Health services, include following:- [Section 65 (105) (zzzzo)] 1. Health check up undertaken by ho
Budget 2010. Highlights of Service Tax
MONISH BHALLA 28 February 2010 at 14:39Budget Highlights – Service Tax Rate of tax on services retained at 10 per cent to pave the way forward for GST. Proposals relating to Service Tax are estimated to result in a net revenue gain of Rs 3,000 crore for the year. Proce
Tourism sector: Abatement a major component of service tax
MONISH BHALLA 18 February 2010 at 23:52We are engaged in tourism and hospitality industry. We understand that point-to-point journey falls under a different category whereas long trip holidays are governed by another set of principles of service tax which creates confusion. Can we classi
No entry for Service tax in clubs in certain scenarios
MONISH BHALLA 11 February 2010 at 12:53Are all activities of a club or an association covered under the ambit of Service tax or there are certain exclusions to the same? Becoming a member of an elite club is looked upon as a prestige symbol or a style statement; however, the high price ta
Service Tax Simplified: SCREENING OF TAXES FOR CINEMA GOERS
MONISH BHALLA 15 January 2010 at 13:13As cinema theaters owner, are we liable to pay Service Tax on screening of film?The cost to a service recipient has increased in recent past on account of the tax burden which is passed on to the end-user. In a country where more than half the popula
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