Tuesday, 19 May 2015

Service Tax of 14% instead of 12.36 % will be applicable from June 1 2015

Finance Ministry has informed that the date of the proposed service tax hike is applicable from June 1, 2015. The Union Budget had announced hike in service tax rate hike to 14% from 12.36%. However, no decisions have yet been taken on the levy of Swachh Bharat Cess. It was announced in the Budget that a Swachh Bharat Cess Upto 2% will be levied

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GAAR Not Applicable to Genuine Capital Market Transactions: Telangana High Court

In a significant ruling, the Telangana High Court held that General Anti-Avoidance Rules (GAAR) cannot be invoked merely because a transacti...