Month: January 2023
Direct Tax collections up to January 10, 2023 continue to register steady growth
The provisional figures of Direct Tax collections up to January 10, 2023 continue to register steady growth. Direct Tax collections…
PAN as single business ID set to get legal backing in Budget 2023-24
The Union Budget 2023-24 is likely to roll out the legal and operational framework for adopting the permanent account number…
Union Budget 2023 may see another dispute resolution scheme as tax arrear surges
Finance Minister Nirmala Sitharaman may get some satisfaction on limiting the fiscal deficit but a niggling item in her account…
Budget 2023: Bibek Debroy hopes for move towards exemption-less tax system
India’s upcoming Union Budget should hopefully incentivize taxpayers to move towards an exemption-less direct tax system, which would increase revenue,…
Budget FY24 Expectations: Coir industry seeks relief from GST on ocean freight
Indian Coir industry which is an important cottage industry has urged the government to address the Ocean freight GST in…
Consumer durables industry hopes for lower GST on appliances, larger stimulus to improve demand: Budget 2023 Expectations
After witnessing a low growth post the Covid-19 pandemic, the consumer durables and electronics industry has considerably put itself back…
Advisory on “Initiating Drop Proceeding” by taxpayers
12/01/2023 Recently, a functionality of Automated Drop Proceedings of GSTINs suspended due to non-filing of returns has been implemented on the GST…
Module wise new functionalities deployed on the GST Portal for taxpayers
12/01/2023 Various new functionalities are implemented on the GST Portal, from time to time, for GST stakeholders. These functionalities pertain…
Reasoned assessment order to be passed dealing with all aspects of the matter
The Hon’ble Gujarat High Court in M.P. Commodities Pvt. Ltd. v. State of Gujarat [R/Special Civil Application No. 3796 of…