SIMPLE TAX INDIA

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• DA Hike by 6% for employees, pensioners
• FM announces relief for readymade garment sector
• Health service service tax rolled back ,Excise on garment reduced
• GST Constitution Amendment Bill, 2011 introduced in Lok Sabha

DA Hike by 6% for employees, pensioners Posted: 22 Mar 2011 04:53 AM PDT In a bid to provide relief from high inflation, the govt on Tuesday increased dearness allowance (DA) by 6 percent to 51 percent, benefiting over 50 lakh central govt employees and 38 lakh pensioners. "The decision to hike DA was taken by the Union Cabinet at its meeting here," a Union minister said in New Delhi on Tuesday. The combined impact of the hike will be Rs 5,715.90 crore per... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]

FM announces relief for readymade garment sector Posted: 22 Mar 2011 04:36 AM PDT Under the revised norms, 10% excise would be levied on 45% of the tariff value of retail price on branded readymade garments as against 60% proposed in the Budget. Finance Minister Pranab Mukherjee on Tuesday eased some of the pressure on the readymade garment sector by increasing the abatement available for levy of taxes on retail price of some branded garments and textile made-ups. "I... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]

Health service service tax rolled back ,Excise on garment reduced Posted: 22 Mar 2011 04:35 AM PDT Time to pop the champagne.Finance minister Pranab Mukherjee has announced a roll back of the healthcare service tax or misery tax in the Lok Sabha today. The tax was supposed to mop up Rs 500 crore. In the Union Budget for 2011-12, thefin min had proposed to impose a service tax of five per cent on all services, including diagnostic services, provided by a centrally air-conditioned clinical... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]

GST Constitution Amendment Bill, 2011 introduced in Lok Sabha Posted: 22 Mar 2011 03:18 AM PDT GST : The Constitution (One Hundered and Fifteenth Amendment) Bill, 2011*[BILL NO. 22 OF 2011] A Bill further to amend the Constitution of IndiaBe it enacted by Parliament in the Sixty-second Year of the Republic of India as follows :—Short title and commencement1. (1) This Act may be called the Constitution (One Hundred and Fifteenth Amendment) Act,... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]

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