"COST INFLATION INDEX 2010-11FINANCIAL YEAR NOTIFIED” plus 2 more

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• COST INFLATION INDEX 2010-11FINANCIAL YEAR NOTIFIED
• GST rate Structure Proposed by Finance Minister
• Levy/non-levy of service tax for services relating to transmission and distribution of electricity

COST INFLATION INDEX 2010-11FINANCIAL YEAR NOTIFIED Posted: 21 Jul 2010 07:43 PM PDT Cost Inflation Index for Financial year 2010-11 has been notified by CBDT vide his circular 59/2010 dated 21.07.2010. This New index figure is to be used to calculate Long term capital gain on the sale of capital assets during Financial Year 2010-11.Further I have complied Cost inflation index from 1981-2011 in sheet shown below ,which can also be downloaded in pdf format from the link given in the sheet. Section 48, Explanation (v) of the Income-tax Act, 1961 - Capital gains - Computation... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]

GST rate Structure Proposed by Finance Minister Posted: 21 Jul 2010 07:42 PM PDT The race to implement a countrywide goods and services tax (GST) has entered its final lap.Finance Minister Finance Minister Pranab Mukherjee on Wednesday proposed a threerate structure for the GST, which if adopted through an impending constitutional amendment, can dramatically alter tax administration by giving a one-shot solution to a welter of levies such as excise, value added tax and octroi. At a meeting with state finance ministers, Mukherjee proposed a rate structure under which goods... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]

Levy/non-levy of service tax for services relating to transmission and distribution of electricity Posted: 21 Jul 2010 06:00 PM PDT Section 65(19) of the Finance Act, 1994 read with section 11C of the Central Excise Act, 1944 - Business auxiliary service - Levy/non-levy of service tax for services relating to transmission and distribution of electricity- Notification u/s 11C of Central Excise Act Notification No. 45/2010 - Service Tax, dated 20-7-2010 Whereas, the Central Government is satisfied that a practice was generally prevalent regarding levy of service tax (including non-levy thereof), under section 66 of the... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]

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