Latest Expert Exchange Queries

GST Demo Service software link:
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
Popular Search: VAT Audit :: TDS :: form 3cd :: ARTICLES ON INPUT TAX CREDIT IN VAT :: empanelment :: ACCOUNTING STANDARD :: due date for vat payment :: TAX RATES - GOODS TAXABLE @ 4% :: cpt :: Central Excise rule to resale the machines to a new company :: VAT RATES :: ACCOUNTING STANDARDS :: list of goods taxed at 4% :: articles on VAT and GST in India :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes
« General »
 India’s GST among most complex in world, and it is 0% tax rate that is hurting the idea
 Can’t overrule courts with retrospective amendments, says Supreme Court
 Why tax planning should be an all-year round activity
 8 financial tasks you should do in the next 30 days
 Income Tax department may defend CPC in returns fraud case
  Income tax department sends notices to investors over tax treaty gains
 Seven months after GST rollout: Time for handholding over, Centre to intensify efforts to curb tax evasion
 Individual angels may get tax relief too
 The differences between tax and cess
 Startups that raised funds from angel investors face tax scrutiny
 Tax collection assumptions in India's budget ambitious

ICAI suggest changes to Swachh Bharat cess calculation
March, 31st 2015

Chartered accountants' apex body ICAI has suggested that the proposed cess of two per cent for clean India initiative should be calculated on the payable service tax instead of taxable services' value.

Calculating Swachh Bharat cess on the value taxable services would push the overall service tax rate to 16 per cent, it said.

In the Budget, the government has also proposed to hike the current service tax rate to 14 per cent.

"If Swachh Bharat cess is implemented, the total rate of service tax would be 16 per cent. Therefore, it is suggested that the Swachh Bharat cess be levied only on service tax payable rather than the value of taxable services," the Institute of Chartered Accountants of India (ICAI) has said.

The suggestion has been made in its post Budget memorandum submitted to the government. ICAI has suggested certain amendments for proposals contained in the Finance Bill, 2015.

The Bill has proposed to empower the government to impose a Swachh Bharat cess on all or any of the taxable services at a rate of two per cent on the value of such taxable services.

While presenting the Budget for 2015-16, Finance Minister Arun Jaitley had proposed an enabling provision to levy the cess at a rate of two per cent or less on all or certain services if need arises.

Resources generated from this cess will be utilised for financing and promoting initiatives towards Swachh Bharat.

In August 2014, Prime Minister Narendra Modi had given a call to achieve the objective of clean India by 2019 -- the 150th year of the birth anniversary of Mahatma Gandhi, through the Swachh Bharat Mission.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Article Management Solutions System Article Management Software S

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions