Friday 21 February 2014

Interim Budget 2014 passed in Lok Sabha

Lok Sabha on Wednesday 19.02.2014 passed the Interim Budget for the financial year 2014-15 without any significant discussion. Finance Minister P Chidambaram introduced the Appropriation Bill and the
Finance Bill amid din in the House by a voice vote.
The Bills were passed without much discussion. There was no reply from the Finance Minister.

On Monday 17.02.2014 , Chidambaram had presented the Interim Budget along with a vote-on-account for spending up

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HC upholds validity of provisions restricting ITC where supplies are taxed under RCM

  This Tax Alert summarizes a recent judgement of the Delhi High Court (HC) [1] dealing with the issue of denial of input tax credit (ITC) ...