When a person decides to start a business, there are various options such as Sole Proprietorship Partnership Firm Limited Liability Partnership Joint Venture Limited Company which could be a One Person Company or Pvt Limited or Public Limited The choice of any particular legal structure would impact mainly the capital [...]
Finance minister, Mr. Jaitley had proposed to impose a Cess, called the Krishi Kalyan Cess (KKC), at 0.5% on all taxable services during Budget 2016. Effective date of Krishi Kalyan Cess is 1st June 2016. In this article, we are trying to answer most commonly asked questions about this new tax. As you know, Service [...]
The Govt. has notified the Companies (Incorporation) Amendment Rules, 2016 (‘Amended Incorporation Rules’). Now the process of reservation of name of companies has been simplified. Following changes have been made for ease of doing business in India: 1) Name of company need not to be in consonance with principal object: [...]
All services, including air travel, telephony, eating out and banking will become expensive from November 15 as the government on Friday decided to impose a 0.5 per cent cess on all taxable services to fund the Swachh Bharat programme. The additional cess would be over and above the 14 per [...]
Primarily, service tax department is bifurcated into anti-evasion and audit wings so as to keep an eye on service tax defaulters. In order to additionally curb the small assessees, who usually don’t fall in the ambit of service tax audits, CBEC has issued circular 185/4/2015- ST wherein check-list & revised [...]
The Central Board of Excise and Customs the apex indirect taxes body, has issued new norms that restrict lower service tax to only those houses that cost below Rs 1 crore and have carpet area less than 2000 square feet. Service tax at the rate of 12% will be applicable [...]