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Cryptocurrency gains will be taxed at 30 per cent beginning April 1, 2022. It’s the highest tax bracket and the rate is the same as earnings from a lottery. This would apply to all virtual digital assets (VDA) and their…
The State Goods and Services Tax (GST) department officials on Thursday arrested a cosmetic and beauty products shop owner for allegedly evading GST duty to the tune of Rs 10.64 crore in the sales of beauty products worth Rs 63.46…
The Union Finance Ministry on Friday said it has released the 13th weekly instalment of Rs 6,000 crore to 23 states and three Union Territories (UTs) to meet the GST compensation shortfall. Out of this, an amount of Rs 5,516.60…
The Punjab excise and taxation department has recovered Rs.2,646.88 crore from tax evaders till February 2022 through the data mining wing formed to detect and analyse revenue leakages in the state. Data mining wing is a specialised unit established in…
In one of the cases, two accused were arrested on the ground that they were found actively involved in the racket of availing and utilizing fake/ fraudulent ITC under the name and style of a firm, by misusing the identity…
The Lok Sabha on March 25 passed the Finance Bill 2022, which gives effect to new taxation, thus completing the Budgetary exercise for 2022-23 fiscal. The Finance Bill was approved by the Lower House after accepting 39 official amendments moved…
The Puducherry CGST & Central Excise Commissionerate on Tuesday began the first of a series of trade facilitation meetings with the trade and industry sectors. The sectors represented on the opening day were pharma, textiles, edible goods and FMCGs. According…
As per the recent tweet of Income Tax India, the Central Board of Direct Taxes (“CBDT”) has issued refunds of over Rs. 1,93,720 crore to more than 2.26 crore taxpayers from April 01, 2021 to March 20, 2022. Income tax…
A jewellery firm director was fined SGD104,400 on Wednesday for conspiring with five Indian tourists to unlawfully obtain goods and services tax (GST) refunds that they were not entitled to. The cases involving Woo Sin Chai from Arthesdam Jewellery and…
The Gujarat high court on Wednesday ordered an officer of the Goods and Service Tax (GST) to remain present in court on Thursday morning and bring along a tax consultant, who allegedly was in the department’s custody for the past…