In the budget for the 2016-17, the central government had announced imposition of Krishi Kalyan Cess (herein after referred as KKC) at 0.5% of value of all taxable services. This cess will be collected to finance and promote initiatives to improve agriculture in India. It is estimated that with introduction of this cess, the government …
Executive Summary The related party transactions of import of goods are subjected to review by the Special Valuation Branch (SVB) of customs owing the complexities involved therein. Most of the importer were facing issues due to the cumbersome procedure for getting the valuation process complete. Also there were considerable number of cases which were pending …
Revised Procedure for valuation of imported goods (SVB Procedure)..!! (April 2016) Read More »
Executive summary The excise duty has been made applicable on following Jewellery articles manufactured and cleared w.e.f. 1st March 2016. The Jewellers are on strikes since announcement of the levy leading to considerable loss to the economy. This article covers applicability of Central excise duties on Jewellery manufacturing units and the issues which needs to …
Applicability of Central Excise duties on Jewellery w.e.f. 1st March 2016 (April 2016) Read More »
Hon. Finance Minister – Shri. Arun Jaitely have presented the budget on 29th February 2016. Though changes made in the Finance Bill, will be effective only after Finance Bill is passed in Lok Sabha & Rajya Sabha and thereafter giving ascent to the bill by Hon. President of India. However, the changes which has been …
Change The Practices In New Financial Year 2016-17 (April 2016) Read More »
