28 February, 2015
The Finance Minister presented the Finance Bill, 2015 today. While no major relief has been announced on personal taxation, corporate taxes are proposed to be rationalised in a phased manner to bring down the rate of taxation. However, for the present, no change has been announced on rates of tax for companies. Incentives for investment in notified backward areas of Andhra P...
28 February, 2015
Finance Bill 2015 introduced in the Lok Sabha (Lower House of the Indian Parliament) today on 28-2-2015, has proposed certain relaxations in respect of penalty provisions under Central Excise and Customs Laws.
Section 28 of the Customs Act, 1962 is proposed to be amended to provide for non-imposition of penalty if the person to whom a show cause notice has been issued in ...
28 February 2015
Rate of Central Excise duty, which is levied on goods manufactured in India, have been revised upwards for several items. In its first full Budget presentation since taking office in June last year, the Finance Minister has today (28-2-2015) enhanced the rates of Central Excise duty to 12.5%. There is however a small breather inasmuch as exemption has been provided from the E...
18th February, 2014
In the Indian Interim Budget 2014 certain changes have been made in the tariff structure in respect of excise and customs duties besides extending exemption from service tax to two sectors.
As per the Press Release issued by the Government of India, excise duty on all goods falling under Chapter 84 & 85 of the Schedule to the Central Excise Tariff Act has been red...
The Finance Minister is expected to present Union Budget for the year 2012-13 on 16th March, 2012. To analyze tax implications of this year's budget, the Institute of Business Laws, in association with Lakshmikumaran & Sridharan, is organizing the following seminars on Budget 2012:
17th March, 2012 - India Habitat Centre, New Delhi
17th March, 2012 - M.C. Ghia Hall, Mumbai
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