News at a Glance
GST: Telecom companies likely to face stiff technical, accounting challenges
Telecommunication services presently attract Service Tax of 14% along with Swachh Bharat Cess (SBC) of 0.5% and Krishi Kalyan Cess (KKC) of 0.5%.
Posted On :26/May/2017 6:20:44 PM
CBDT issues clarification on furnishing statement of financial transaction
Section 285BA of the Income-tax Act, 1961 requires furnishing of a Statement of Financial Transaction (SFT) for transactions prescribed under Rule 114E of the Income-tax Rules, 1962.
Posted On :26/May/2017 5:14:01 PM
Sugar, tea, coffee, milk powder to cost less under GST
Proposed GST Tax rates would be lesser than the prevailing taxes in case of Sugar, Tea and Coffee (Other than instant coffee) and Milk Powder, Present incidence of taxes on sugar is 8%.
Posted On :26/May/2017 10:33:45 AM
Special offers by top Indian Airlines
Following SpiceJet�s announcement for the Rs 12 fare excluding tax and fees, Indigo, India�s biggest airline in terms of market share has announced that it will be offering flight tickets for rates lesser than Rs 900 on specific routes.
Posted On :25/May/2017 1:25:30 PM
SpiceJet tickets at Rs 12
SpiceJet, a budget career has announced special offers for its 12th anniversary celebrations. This Ticket rates as low as Rs 12 are available.
Posted On :23/May/2017 5:24:57 PM
Lower Tax Incidence on Entertainment Services under GST
Taxes on entertainments and amusements (covered by the erstwhile entry 62 of State List of the Constitution) have been subsumed under Goods and Services Tax (GST) except to the extent of taxes on entertainments.
Posted On :23/May/2017 3:18:59 PM
Hotels to close on 30th May as a protest against GST increase
The Tamil Nadu Hotel Owners Association has announced that the hotels in Tamil Nadu will remain closed on 30th May as a mark of protest against increased GST (Goods and Services Tax) imposed by the central government.
Posted On :23/May/2017 11:15:33 AM
GST will lead to lower tax burden in several commodities
The roll out of Goods and Services (GST) Tax will bring benefits to the consumers due to reduced tax rates on various commodities such as packaged cement, medicaments, smart phones, and medical devices, etc.
Posted On :23/May/2017 10:02:10 AM
Government announces the Sale/ Reissue of Floating Rate Bonds and Government Stock
Government of India has announced the Sale (re-issue) of Government of India Floating Rate Bonds 2024 for a notified amount of Rs. 3000 crore (nominal) through price based auction,
Posted On :22/May/2017 6:20:14 PM
Internet facility in flights soon
Internet connection facility is to be provided in flights soon in India.The Joint Director of the directorate of domestic flights, Lalit Gupta, informed that the facility will be given after the approval is given by the ministry.
Posted On :22/May/2017 3:20:32 PM
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