Amendment of section 3A In the Central Excise Act, in section 3A, in Explanation 1, for the words and figures, “First Schedule and the Second Schedule to the Central Excise Tariff Act, 1985 (5 of 1986)”, the words ”Fourth Schedule” shall be substituted. Practice area’s of B K Goyal & Co LLP Income Tax Return Filing | […]
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Every earning individual in India is required to pay income tax based on the various slab rates. Similarly, when individuals buy products or use services, they must pay tax on those purchases or services. It is at this point that the necessity to grasp various sorts of taxes and their distinctions arises. What is Direct
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Price sensitivity is the degree to which the price of a product affects consumers’ purchasing behaviors. Generally speaking, it’s how demand changes with the change in the cost of products. In economics, price sensitivity is commonly measured using the price elasticity of demand, or the measure of the change in demand based on its price change. For example,
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Substitution of new section for section 3 In the Central Excise Act, for section 3, the following section shall be substituted, namely:— “3. Duty specified in the Fourth Schedule to be levied.— (1) There shall be levied and collected in such manner as may be prescribed a duty of excise to be called the Central Value
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Amendment of section 2 In the Central Excise Act, 1944 (1 of 1944) (hereinafter referred to as the Central Excise Act), in section 2,— (a) in clause (d), for the words and figures “the First Schedule and the Second Schedule to the Central Excise Tariff Act, 1985 (5 of 1986)”, the words “the Fourth
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Amendment of section 3 In the Customs Tariff Act, 1975 (51 of 1975), in section 3,— (a) in sub-section (2), — (i) in clause (ii), for item (a), the following item shall be substituted, namely:— “(a) the duty referred to in sub-sections (1), (3), (5), (7) and (9);”; (ii) in
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The Entrepreneurship Development and Employment Generation (EDEG) Scheme is a government initiative aimed at promoting entrepreneurship and creating employment opportunities, particularly for the youth, women, and marginalized sections of society. The scheme focuses on fostering skill development, providing financial assistance, and creating an enabling environment for entrepreneurship to thrive. Objective of the EDEG Scheme Promote
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Open Network for Digital Commerce (ONDC), a public online network for merchants and customers, allows e-commerce platforms to interconnect and interoperate. The Open Network for Digital Commerce (ONDC) is a transformative initiative by the Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce, Government of India aimed at democratizing digital commerce. Launched in April 2022,
Prime Minister highlighted Pivotal Role of ONDC in Revolutionizing Digital Commerce Read More »
The Farm Pond Construction Program, initiated on April 1, 2020, by the Rajasthan Agriculture Department, offers a solution to addressing a critical challenge of water scarcity for Rajasthan’s farmers . This program allows farmers to establish farm ponds, essentially rainwater collection structures, for irrigation purposes. Recognizing the program’s significance, the state government provides subsidies to
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The Income Tax department to promote the paperless environment launched ‘e-Nivaran’, a special electronic system to fast-track taxpayer grievances and ensure early resolution or redressal of their complaints. A separate and dedicated window for grievance redressal in the Income Tax Business Application (ITBA), from now, this recently launched new smart electronic platform will handle the