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Articles by Madhukar N Hiregange

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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