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Clause by Clause – Finance bill 2012
Clause by Clause Analysis on DIRECT TAX
Clause by Clause Analysis on SERVICE TAX
Clause by Clause Analysis on EXCISE
Clause by Clause Analysis on CUSTOM
Finance Bill 2012 broadens taxable transfers, introduces GAAR, negative list service tax, and adjusts excise and customs duties. Finance Bill 2012 broadens taxable scope and anti avoidance reach by redefining property and transfer to include rights in or in relation to Indian companies and all modes of disposition, introduces a statutory GAAR, expands transfer pricing to specified domestic transactions and APAs, tightens withholding and onus provisions for share capital and non resident payments, enlarges reopening powers for overseas assets, and reforms service tax by adopting a negative list charging regime with new compliance, audit and recovery mechanisms; excise and customs rates and procedural sanctions are recalibrated across sectors. of Press 'Enter' after typing page number.
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