| • | Large Benefits to Small Scale Units |
| | This year budget has brought many good things for the small scale manufacturers. The small scale exemption is contained in notification 8/2003-C.E. dated 01.03.2003. The units opting for such exemption were treated as small scale units. But in this year Budget 2010 has brought amendment to this also..... Read More |
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| • | Impact of Corrugating duty on Corrugated Boxes |
| | Earlier to this budget, the corrugated boxes were chargeable to Central Excise duty @ 8 %. Most of the units producing corrugated boxes were operating under SSI exemption Notification no. 8/2003-CE (NT) dated 01.03.2003...... Read More |
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| • | Goods Transport Agency: Disputes Forever |
| | It will be very strange to see that the Indian budget is being presented and it does not have mention of service of "Transport of goods by road". It has been a most litigant and most debated service under service tax. This year budget is no exception. There is a small amendment relating to this service...... Read More |
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| • | Capitalisation on Capital Goods |
| | The recent budget has made changes in respect of reversal of Cenvat credit on removal of capital goods. Through this piece, we are trying to analysis the same and seeing its impacts. Read More |
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| • | Unfolding the levy on Umbrella |
| | As the budget, 2010-11 has brought many changes in Excise Law. It varies from areas like applicable rate of excise duty, their Cenvat Credit allowable, exemption from excise duty and so many. The duty on umbrella and umbrella parts are closely affected due to applicability of new Notifications inserted in this Budget........ Read More |
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| • | Port/Airport Services: At Great Expansion |
| | The introduction of Budget 2010 has brought a drastic change in the definition of the Port/Airport services which will definitely expand the scope of accepting the refund of service tax to the exporters....... Read More |
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| • | Deeming Construction Service: Caught in Tax Net |
| | The Budget 2010 was eagerly awaited by all sections of the society. Never before, any budget had been so awaited by many of the Indian citizens. Finally the Finance Minister Mr. Pranab Mukherjee announced the Budget on 26-02-2010. This budget brought many welcome steps but also some disappointments to various sections and business classes of the society....... Read More |
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| • | Service tax on Transportation by Railway: An unsolved puzzle or a mystery? |
| | The service tax on transportation of goods by railway was introduced in the Budget 2009 last year by the Finance Minister. With the levy of service tax, provisions for abatement and exemptions were also introduced. The levy was to come into effect on September 1, 2009. Read More |
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| • | Budget Changes for Settlement Commission |
| | The Settlement Commission has been provided for in the Central Excise Act, 1944 and in the Customs Act, 1962 for settlement of cases of tax evasion subject to fulfillment of certain conditions. Also, a mandatory condition was imposed that the cases are to be decided within 9 months from the date of making of application. Read More |
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| • | Export of Services: Confusing exported |
| | Indian budget has also brought many changes related to export of services. As per Export of Service Rules, there are three criterions for declaring a service as export Read More |
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| • | Commercial Coaching: Only commercial for Government |
| | The budget, 2010-11 has brought many changes in Service Tax field, although the same was not referred in Finance Minister's speech. Yet there are many changes in service tax. The service providers of "commercial training or coaching service" are greatly affected due to applicability of new Notifications inserted in this Budget. Read More |
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