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Budget 2023
Maharashtra deputy chief minister Devendra Fadnavis presented the state budget based on the principle of ‘Panchamrut’. Real estate sector welcomes ...
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ABSTRACT : The Budget - 2023 has come up with a plethora of changes proposed in the field of Direct ...
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Companies are unlikely to see any relaxation in the budget provision related with no ITC (Input Tax Credit) for CSR ...
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Union Finance Minister Nirmala Sitharaman on Friday said the new tax regime will leave higher disposable income in the hands ...
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A taxpayer whose deductions and exemption claims are less than Rs 3.75 lakh annually would be advised to opt for ...
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The Union Budget 2023-24 has proposed certain changes to the Income Tax search and seizure provisions in view of the ...
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Recent update
Since we are already in the last month of the Accounting year i.e. March 2023, which mandates a few important ...
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Due dates Advance Tax is payable on or before 15th June, 15th September, 15th December & 15th March. So, the ...
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We are fast approaching the end of the financial year 2022-23. It mandates for some activities to be carried out ...
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The state Cabinet, under the chairmanship of Chief Minister Sukhvinder Singh Sukhu, on March 01, 2023 approved the Himachal Pradesh ...
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GST Article
Tax, interest, penalty, fine, and fees due need to be paid for the revocation of cancellation of GST Registration
The Hon’ble Orissa High Court in M/s. Namrata Pradhan v. Additional CT & GST [W.P.(C) No. 5511 of 2023 dated ...
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Application of GAAR Provisions cannot be a ground for denial of Tax benefit under India- Singapore DTAA
The ITAT, New Delhi in Reverse Age Health Services Pte Ltd v. DCIT [ITA No.1867Del/2022 dated February 17, 2023] has ...
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Are you Ready for FY 2023-24 GST??
Since we are already in the last month of the Accounting year i.e. March 2023, which mandates a few important ...
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No ITC to purchasing dealer in the absence of proof of genuine transactions and physical movement of goods
The Hon’ble Supreme Court in the State of Karnataka v. M/s. Ecom Gill Coffee Trading Pvt. Ltd. [Civil Appeal No ...
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GST in Media
Finance Minister Palanivel Thiaga Rajan in his budget speech said despite multiple representations from the States, the Union government refused ...
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Trade bodies have welcomed most of the announcements in the state budget but are disappointed that no announcement was made ...
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Ninety per cent of India’s Goods and Services Tax (GST) collections are paid by the top 22% businesses having a ...
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The Goods and Services Tax system that was implemented to ease the taxation system, has also become a tool for ...
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The GST department will soon begin analysing ITRs filed by businesses and professionals and also MCA filings to ascertain if ...
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GST officers in Delhi have unearthed a fake invoicing racket involving tax evasion of Rs 17 crore and arrested two ...
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Jittery over the show-cause notices being issued by State Goods and Services Tax (SGST) department for value added tax (VAT) ...
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The Orissa high court has held that sale of ‘chokad’ (wheat bran) irrespective of the purpose for which it is ...
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Kerala has received ₹15,610.94 crore by way of Integrated Goods and Services Tax (IGST) till February in this fiscal, according ...
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A Goods and Services Tax (GST) panel is finalising classifications of millet-based products to determine the tax rates applicable on ...
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Income Tax in Media
Individual taxpayers need to be incentivised to migrate to an exemption-less income-tax regime, Bibek Debroy, chairman of the Economic Advisory Council to the Prime Minister, told ET, pegging India to grow at about 6.5% in the next fiscal. According to Debroy, the government’s capital expenditure focus will continue in FY24 while ...
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The sleuths of the Central Bureau of Investigation (CBI) on Wednesday arrested a tax assistant of the Income tax department red handed while accepting a bribe of Rs 15,000 at the Industrial township Parwanoo. A team of CBI following a complaint of the management of a business firm laid a trap ...
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The Central Bureau of Investigation (CBI) arrested nine Income Tax (I-T) officers in Maharashtra’s Nagpur for allegedly joining the department without appearing for the mandatory examination conducted by the Staff Selection Commission. The anti-corruption branch of the CBI arrested the nine accused officers on Monday. An offence was registered in 2018 ...
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The Centre’s direct tax collections, net of refunds, have increased by over 24% on year in the first eight months of the current fiscal, indicating continued revenue buoyancy and recovery in economic activities. The collections amounted to Rs 8.77 trillion between April and November 30 this fiscal, registering a 24.26% growth ...
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Your Permanent Account Number (PAN) is likely to become the only identification needed for seeking different clearances and approvals from the central and state departments for your business. The Centre has announced that it is planning to allow businesses to use the PAN instead of other data as a unique identifier ...
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E-invoice
Single sign-on (SSO) functionality has been enabled for e-Invoice and e-Waybill
The Single sign-on (“SSO”) functionality has been enabled for e-Invoice and e-Waybill. The SSO is a facility by which the ...
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Oct 1 deadline for compulsory e-invoice generation nears for firms with Rs 10 crore turnover
Businesses having aggregate annual turnover of Rs 10 crore and more will have to compulsorily generate e-invoices for business-to-business (B2B) ...
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Who are liable to generate e-invoice w.e.f October 1, 2022
The GST Council, in its 37th meeting held on 20.09.2019, has recommended introduction of electronic invoice (‘e-invoice’) in GST in ...
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E-invoicing limit reduces to 10 cr from existing limit of 20 cr w.e.f. Oct 01, 2022
CBIC issued Notification No. 17/2022–Central Tax dated August 01, 2022 to amend Notification No. 13/2020 – Central Tax, dated March ...
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Nice
Really commendable.
So positive approach .
Most important and effective information shared by your team
Thanks alot, request send the future updates and guide me in respect of GST laws