Stay updated
The Hon’ble Karnataka High Court in The Commissioner of Central Tax & Ors. set aside the order passed by the Learned Single Judge to the extent it issued blanket directions to the Revenue to waive interest, penalty, and the limitation for filing returns/revised returns in respect of delayed returns and payment of tax by a sub-contractor…
Central Board of Direct Taxes (CBDT) issued Circular No. 08/2025 dated 01.07.2025 giving Clarification on CBDT’s Circular No. 5/2025 dated 28.03.2025 for waiver on levy of interest under section 201(1A)(ii)/ 206C(7) of the Income-tax Act, 1961, as the case may…
CBDT issued Circular No. 15/2024 dated 04.11.2024 fixing monetary limits of the income-tax authorities in respect of reduction or waiver of interest paid or payable under section 220(2) of the Income-tax Act.
The Income Tax Department has allowed tax officials to either waive or reduce interest payable by a taxpayer, subject to specified conditions.
100% waiver from interest and penalty In respect of demand notices issued u/s 73 for the initial three years of GST implementation i.e., FY 2017-18, FY 2018-19 and FY 2019-20.
The GST Council’s decision to waive off interest and penalty under Section 73 will bring in a much-awaited relief for smaller companies facing steep Goods and Services Tax (GST) demand.
The Goods and Services Tax (GST) Council in its Saturday meeting has approved several compliance measures, aiming at reducing tax litigation and enhancing ease of business across the sectors.
The Administrative Council (AC) which met here under the chairmanship of the Lieutenant Governor, Manoj Sinha approved a proposal of the Finance Department for granting amnesty for the settlement of Tax arrears about pre GST regime. Rajeev Rai Bhatnagar, Advisor…