CAclubindia Articles

Ceiling rate on Declared goods under CST Act incresed to 5%

Posted by Amit Bajaj 02 March 2011 32091 Views

It has been proposed in the Budget 2011-12 to increase the ceiling of 4% on declared goods under section 15 of CST Act to 5%. Currently State Governments cannot levy VAT more than 4% on declared goods. Declared goods are those goods which are of

Amendment in Service Tax under Union Budget 2011

Posted by CA.AMIT SHARMA 02 March 2011 108025 Views

A. Introduction of new taxable services under the tax net (to be applicable from the date of notification after passage of Finance Bill 2011)a. Services by air-conditioned restaurants having license to serve liquor with a 70% abatement on this

Changing Momentum Of GST - Still More To Do

Posted by Nagesh Bajaj 01 March 2011 4808 Views

When nothing is going right in the successful implementation of Goods and Services Tax (GST), suddenly a momentum changes in favour of those who are favouring the rolling out of the GST. The finance ministry is planning to table a Constitutional A

Change in Service Tax Refund Scheme

Posted by Pradeep Jain 01 March 2011 8996 Views

Change in Service Tax Refund Scheme Prepared By: CA Pradeep Jain And Sukhvinder Kaur, LLB[FYIC] The scheme of refund of service tax paid on specified services which were utilised for export of goods was given effect in 2007 vide Notification

Changes proposed for introducing Goods and Service Tax (GST)

Posted by Pradeep Jain 01 March 2011 6545 Views

Changes proposed for introducing Goods and Service Tax (GST) Prepared By: CA Pradeep Jain And Sukhvinder Kaur, LLB[FYIC] The introduction of Goods and Service Tax (GST) at both Central as well as State level is the dream of the Government de

Central Excise Duty Assessment on Ready Made Garments

Posted by Rajesh Kumar 01 March 2011 60290 Views

Excise duty at the rate of 10% shall now apply to ready-made garments and made-up articles of textiles falling under Chapters 61, 62 and 63 (heading nos.63.01 to 63.08) of the Central Excise Tariff except those falling under heading nos.63.09 and

CLB: Procedure before CLB under section 397/398?

Posted by Durga Rao 01 March 2011 13334 Views

There was a specific objective behind section 397/398 of the Companies Act, 1956 and a great responsibility is cast upon the Company Law Board to protect the interests of the minority shareholders, to put an end to the matters complained of and to

Impact of Introduction of IFRS on Indian Businesses.

Posted by anurag 01 March 2011 19734 Views

India has committed itself at the G-20 to make its companies, IFRS compliant from April 1st, 2011. Though India has not adopted the IFRS in full but it converged its Accounting Standards (AS) to get those in line with the international reporting s

Cental Government grants general exemption u/s 212 & 211

Posted by Aditi Jhunjhunwala 01 March 2011 9947 Views

Notification no. 2/2011 dated 8th February, 2011 issued by the Ministry of Corporate Affairs has granted general exemption to companies from sec 212 and sec 211 The general exemption comes at quite a handy time as the financial year is coming to a

Two Exemption Notifications: litigation inbuilt

Posted by Pradeep Jain 01 March 2011 23926 Views

Two exemption Notifications: litigation inbuilt Prepared By: - CA. Pradeep Jain CA. Preeti Parihar Introduction: - The honble Finance Minister of India has introduced the Finance Bill, 2011 on 25.2.2011. This bill has withdrawn a no. of exe