GOODS AND SERVICES TAX

 “To maximise ECONOMIC GAIN

&

minimize COMPLIANCE PAIN”

LESS TO MORE

  • Increased economic activity and investment
  • Fillip to ‘Make in India’ initiative and exports
  • Generation of more employment
  • Efficient neutralization of taxes to make our exports competitive

  MORE TO LESS

  • Single tax to replace multiple levies
  • Single tax leviable on goods and services
  • Automated process to reduce human interface
  • Reduced cost of compliances for  taxpayers
  • Lesser logistics and inventory costs

Revised Draft Model GST Law and Draft IGST Law available in public domain.

The same can be accessed at www.cbec.gov.in , www.dor.gov.in or www.gst.in

 gst

Income-tax ( 35th Amendment) Rules, 2016

S.O.4110(E).— In exercise of the powers conferred by section 285BA read with section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby makes the following rules further to amend the Income-tax Rules, 1962, namely:— 1. (1) These rules may be called the Income-tax ( 35th Amendment) Rules, 2016. (2) They shall be deemed to have come into force from the 7th August, 2015. 2. In the Income-tax Rules, 1962, in rule 114F, in clause (1), in the Explanation,— (I) in clause (g), in sub-clause (D), for the words, brackets and letters “in sub-clause (ii)”, the words, brackets and letter “in sub-clause (B)” shall be substituted; (II) in clause (h),— ……

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