Articles by Madhukar N Hiregange

Impact of 14% ST rate

Madhukar N Hiregange 22 May 2015 at 10:26

IntroductionService tax rate had been proposed to increase from 12% to 14% effective from 1st June 2015 vide notification no.14/2015-ST. The Cesses are also subsumed in the rate of 14%. Additional revenue on account of this increase is estimated to

Budget 2015 - Reform Agenda Missed: Indirect Taxes?

Madhukar N Hiregange 01 March 2015 at 18:02

The indirect tax proposals as per the BJP manifesto in 2014 promised the world to the voters with regard to corruption and administrative reforms. The fall in the oil

Analysis of L&T - Service Tax - Impact on Valuation of WCT in residential apartments

Madhukar N Hiregange 03 January 2015 at 10:59

Construction Service / Works Contract- Residential ApartmentsImpact of Larsen & Toubro [ K.Raheja] Judgment.Madhukar N Hiregange Commercial tax is a largest[maximum] contributor of revenue to every State. There were attempts in late 1990s and la

Proposed GST- The Game Changer for professionals- Opportunity

Madhukar N Hiregange 24 December 2014 at 12:30

GST is a consumption based levy. Destination principle would be applicable in normal course of business to business [B2B] other than for few services and business to consumer.[ B2C] GST is proposed to be in place by April 2016- maybe a bit optimitsti

Input Service Distributor- Compliance

Madhukar N Hiregange 03 September 2014 at 11:35

Compliance - Input Service Distributor- Central Excise / Service TaxBy Madhukar N HiregangeBackgroundThe manufacturers in the past few years have often multi locational factories and warehouses to cater to the needs of customers of Just In Time deli

Six months limit- Can it be extended?

Madhukar N Hiregange 27 August 2014 at 10:54

Revenue Augmentation 6 Month Restriction Can One Avail post 1st September?CA Madhukar N Hiregange& CA Roopa NayakExcise duty collections are expected to be about Rs. 2 Lakhs crores and Service Tax collections about 2.2 Lakhs cror

Indirect Tax Impact - Tax Audit - AY 14-15

Madhukar N Hiregange 16 August 2014 at 11:52

Tax Audit Under IT Act. for AY 14-15 Indirect Tax ComplianceCA Madhukar N Hiregange & CA Roopa Nayak The tax audit under Income Tax has undergone a change. There are already a number of compliances which professionals felt was asking for

Past Year Cenvat Credit - Last Chance?

Madhukar N Hiregange 18 July 2014 at 13:02

Revenue Augmentation by Way of Cenvat Credit Restrictions[ Past Credit Availment Last Chance? CE/ ST]CA Madhukar N HiregangeExcise duty collections are expected to be about Rs. 2 Lakhs crores and Service Tax collections about 2.2 Lakh

Union Budget 2014 - Indirect Taxation

Madhukar N Hiregange 12 July 2014 at 12:32

In recent times, the law abiding assesses have to contend with large number of target based queries/notices, audits and summons generally high amount of tax terrorism. Infructuos demands [90-95% bound to fail as p

Union Budget 2014- Indirect Taxation- The Ugly Side

Madhukar N Hiregange 12 July 2014 at 11:15

Union Budget 2014- Indirect Taxation- The Ugly Side- Tax terrorism to Continue unabated. In recent times, the law abiding assesses have to contend with large number of target based queries/notices, audits and summons generally high amount of tax terr