If my memory serves me right, our Fin Minister announced an year back that service tax will go up to 16% by the year 2010, which is set as the deadline for introduction of GST Act in India. So the time has come for India Inc to get ready for another hike in service tax. [...]

Major chartered accounting firms enjoying tie-ups with overseas firms have mounted a counterattack on the white paper released by the Institute of Chartered Accountants of India targeting so-called foreign firms operating in India.
Industry sources have also come out in criticism of the ICAI white paper which seeks to deny market access in the services sector [...]

Corpus to help underprivileged students access cheap educational loans.
The government may increase the education cess in the Budget as part of a plan to create a corpus to provide cheap loans to students from low-income families.
This was discussed at a meeting chaired by the Prime Minister’s Principal Secretary, TKA Nair, on January 12 [...]

Next morning, when you wake up and look at your copy of Economic Times or Financial Express…………. Don’t be surprised if Indian Conglomerates is in the rat race of M&A and buying some division of a fortune 500 company. Old records are broken and we are setting new heights in this marathon. Biggest all time [...]

We take great pride in saying that India is an agrarian Country. Hold on!!!!!!!!!!!!!!!!!!!! Isn’t it more appropriate to say that India was an agrarian country?
Contribution of agriculture to India’s GDP has reduced from 39% to 22% during the period 1979 to 2004.(President’s Speech – 2005).The contribution of Agriculture to our GDP is on [...]

To hike public spending on health and education, the United Progressive Alliance (UPA) government is considering imposing a 2% health cess on central taxes and also doubling the education cess from the current 2% to 4% in Budget.
The UPA’s national common minimum programme calls upon the government to double public spending on education to 6% [...]