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The Finance industry Development Council, a representative body of NBFCs in India, has requested the Reserve Bank not to classify penal interest as ‘charges’ due to potential tax implicaitons.
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Post Views: 508 The controversial issue of arrest for alleged fraudulent availing of input tax credit (ITC) through circular trading…
The Supreme Court in a recent order upheld the Customs, Excise and Service Tax Appellate Tribunal (CESTAT) ruling and held that Ramdev’s Patanjali Yogpeeth Trust is liable to pay Rs 4.5 crore to tax authorities for charging an entry fee for organising Yoga camps.
The government is considering changing the base year for computation of the GDP to 2022-23 in February 2026 to reflect an accurate picture of the economy, a top government official said. This will be the first revision in over a decade. It was last done in 2011-12.