{"id":479,"date":"2015-10-24T09:54:26","date_gmt":"2015-10-24T09:54:26","guid":{"rendered":"http:\/\/carajput.com\/blog\/?p=479"},"modified":"2021-12-15T12:12:04","modified_gmt":"2021-12-15T06:42:04","slug":"corporate-tax-update-for-the-month-october-first-week","status":"publish","type":"post","link":"https:\/\/carajput.com\/blog\/corporate-tax-update-for-the-month-october-first-week\/","title":{"rendered":"corporate tax update for the month of october first week"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_58 counter-hierarchy ez-toc-counter ez-toc-light-blue ez-toc-container-direction\">\n<p class=\"ez-toc-title\">Page Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-69d29d1e51247\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #000000;color:#000000\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #000000;color:#000000\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-69d29d1e51247\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/carajput.com\/blog\/corporate-tax-update-for-the-month-october-first-week\/#Corporate_tax_Update_for_the_Month_of_October_First_week\" title=\"Corporate tax Update for the Month of October First week\">Corporate tax Update for the Month of October First week<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/carajput.com\/blog\/corporate-tax-update-for-the-month-october-first-week\/#India_US_set_anti-tax_evasion_deal_in_motion\" title=\"India, US set anti-tax evasion deal in motion\">India, US set anti-tax evasion deal in motion<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/carajput.com\/blog\/corporate-tax-update-for-the-month-october-first-week\/#Select_services_to_attract_lower_GST_rate_to_soften_higher_levy\" title=\"Select services to attract lower GST rate to soften higher levy\">Select services to attract lower GST rate to soften higher levy<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2 style=\"text-align: justify;\"><\/h2>\n<h2><span class=\"ez-toc-section\" id=\"Corporate_tax_Update_for_the_Month_of_October_First_week\"><\/span><a href=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2015\/12\/27.png\" rel=\"attachment wp-att-1530\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-1530\" src=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2015\/12\/27-300x171.png\" alt=\"27\" width=\"800\" height=\"456\" srcset=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2015\/12\/27-300x171.png 300w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2015\/12\/27-768x439.png 768w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2015\/12\/27.png 866w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/><\/a><span style=\"color: #000080;\"><strong>Corporate tax Update for the Month of October First week<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"India_US_set_anti-tax_evasion_deal_in_motion\"><\/span><span style=\"color: #993300;\"><a style=\"color: #993300;\" href=\"https:\/\/www.financialexpress.com\/article\/economy\/india-us-set-anti-tax-evasion-deal-in-motion\/144188\/\"><strong>India, US set anti-tax evasion deal in motion<\/strong><\/a><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p style=\"text-align: justify;\"><span style=\"color: #3366ff;\"><strong><em>Oct 01, 2015<\/em><\/strong><\/span><\/p>\n<p style=\"text-align: justify;\">India has sent the first set of information about Americans holding financial assets in India to the US revenue authorities after setting in motion an information-sharing deal to tackle offshore tax evasion from September 30. Sources privy to the development said that Indian asset details of Americans were collected by the tax department from all banks in India and shared with the US Internal Revenue Service (IRS) under an inter-governmental agreement signed on July 9 under the US\u2019 Foreign Account Tax Compliance Act (FATCA).<\/p>\n<p style=\"text-align: justify;\"><strong>Source:<\/strong><strong>\u00a0<\/strong><span style=\"color: #3366ff;\"><a style=\"color: #3366ff;\" href=\"https:\/\/www.financialexpress.com\/article\/economy\/india-us-set-anti-tax-evasion-deal-in-motion\/144188\/\"><strong>https:\/\/www.financialexpress.com\/article\/economy\/india-us-set-anti-tax-evasion-deal-in-motion\/144188\/<\/strong><\/a><\/span><\/p>\n<h3 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"Select_services_to_attract_lower_GST_rate_to_soften_higher_levy\"><\/span><span style=\"color: #993300;\"><a style=\"color: #993300;\" href=\"https:\/\/www.financialexpress.com\/article\/economy\/fe-exclusive-select-services-to-attract-lower-gst-rate-to-soften-higher-levy\/144200\/\"><strong>Select services to attract lower GST rate to soften higher levy<\/strong><\/a><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p style=\"text-align: justify;\"><strong><em>Oct 01, 2015<\/em><\/strong><\/p>\n<p style=\"text-align: justify;\">With the goods and services tax likely to increase the tax rate for services and perhaps do the opposite for goods, the Centre and states want to soften the blow to a clutch of service industries that are in policy focus by keeping them under a lower-than-standard <a href=\"https:\/\/carajput.com\/gst\/gst-consultancy.php\">GST<\/a> rate. While banking and insurance services, which are being encouraged to bolster financial inclusion, would surely be among the beneficiaries, policymakers, sources said, are drawing up a longer list of services that could attract the lower GST rate.<\/p>\n<p style=\"text-align: justify;\"><strong>Source :<\/strong><strong>\u00a0<\/strong><span style=\"color: #3366ff;\"><a style=\"color: #3366ff;\" href=\"https:\/\/www.financialexpress.com\/article\/economy\/fe-exclusive-select-services-to-attract-lower-gst-rate-to-soften-higher-levy\/144200\/\"><strong>https:\/\/www.financialexpress.com\/article\/economy\/fe-exclusive-select-services-to-attract-lower-gst-rate-to-soften-higher-levy\/144200\/<\/strong><\/a><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #993300;\"><a style=\"color: #993300;\" href=\"https:\/\/www.financialexpress.com\/article\/markets\/commodities\/sugar-exports-plummet-by-half-to-11-lakh-tonne\/144138\/\"><strong>Sugar exports plummet by half to 11 lakh tonne<\/strong><\/a><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #3366ff;\"><strong><em>Oct 01, 2015<\/em><\/strong><\/span><\/p>\n<p style=\"text-align: justify;\">India\u2019s sugar exports plunged by a half in the current marketing year ending Wednesday from a year before, despite a government subsidy on the outbound shipment of raw sugar. The country\u2019s sugar exports under the open general licence (OGL) are expected to have hit 11 lakh tonne in 2014-15, compared with 21.8 lakh tonne a year before, according to a preliminary estimate by the Indian Sugar Mills Association (ISMA).<\/p>\n<p style=\"text-align: justify;\"><strong>Source:\u00a0<\/strong><span style=\"color: #3366ff;\"><a style=\"color: #3366ff;\" href=\"https:\/\/www.financialexpress.com\/article\/markets\/commodities\/sugar-exports-plummet-by-half-to-11-lakh-tonne\/144138\/\"><strong>https:\/\/www.financialexpress.com\/article\/markets\/commodities\/sugar-exports-plummet-by-half-to-11-lakh-tonne\/144138\/<\/strong><\/a><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #993300;\"><a style=\"color: #993300;\" href=\"https:\/\/www.financialexpress.com\/article\/economy\/gas-price-cut-by-18-ongc-to-take-rs-1059-cr-hit\/144189\/\"><strong>Gas price cut by 18%, ONGC to take Rs 1,059-cr hit<\/strong><\/a><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #3366ff;\"><strong><em>Oct 01, 2015<\/em><\/strong><\/span><\/p>\n<p style=\"text-align: justify;\">With the 18% reduction in domestic natural gas price effective October 1, state-owned explorer ONGC would take a hit of Rs 1,059 crore on its profit after tax (PAT) in the second half of the fiscal. According to a circular from the Petroleum Planning and Analysis Cell (PPAC), the price of natural gas from domestic fields would drop to $4.24\/mBtu from October 1 on net calorific value (NCV) basis, from $5.18\/mBtu previously. The revised price on a gross calorific value (GCV) basis would be $3.82\/mBtu.<\/p>\n<p style=\"text-align: justify;\"><strong>Source :<\/strong><span style=\"color: #3366ff;\"><strong>\u00a0<\/strong><a style=\"color: #3366ff;\" href=\"https:\/\/www.financialexpress.com\/article\/economy\/gas-price-cut-by-18-ongc-to-take-rs-1059-cr-hit\/144189\/\"><strong>https:\/\/www.financialexpress.com\/article\/economy\/gas-price-cut-by-18-ongc-to-take-rs-1059-cr-hit\/144189\/<\/strong><\/a><\/span><\/p>\n<p style=\"text-align: justify;\">The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances; Hope the information will assist you in your Professional\u00a0endeavors. For query or help, contact: <a href=\"mailto:singh@carajput.com\">singh@carajput.com<\/a>\u00a0or call at 9555555480<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Corporate tax Update for the Month of October First week India, US set anti-tax evasion deal in motion Oct 01, 2015 India has sent the first set of information about Americans holding financial assets in India to the US revenue authorities after setting in motion an information-sharing deal to tackle offshore tax evasion from September &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[150,9],"tags":[3403,9017,3407,3402,3406,3404,3405],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/479"}],"collection":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/comments?post=479"}],"version-history":[{"count":5,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/479\/revisions"}],"predecessor-version":[{"id":19856,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/479\/revisions\/19856"}],"wp:attachment":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/media?parent=479"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/categories?post=479"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/tags?post=479"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}