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Tag: tax exemption

Supreme Court

Charitable institution, society or trust should ‘solely’ engage itself in educational activities and not in any activity of profit to enjoy tax exemption

byCA Bimal Jain28/10/202228/10/2022

The Hon’ble Supreme Court in M/s. New Noble Educational Society, v. The Chief Commissioner of Income Tax 1 [Civil appeal…

GST ArticleSupreme Court

SC: Argument of promissory estoppel not valid in limiting erstwhile Area based exemption upto 58% under GST

byCA Bimal Jain19/10/202219/10/2022

The Hon’ble Supreme Court of India in M/S Hero Motocorp ltd. v. Union of India & ors. [Civil Appeal No.…

Income Tax in Media

Finance ministry will review tax regime free of exemptions

byAdmin17/08/202217/08/2022

The finance ministry is proposing to soon review the exemption-free new tax regime with a view to making it more…

GST in Media

ATM withdrawals, funerals exempt: Nirmala Sitharaman issues GST clarification

byAdmin04/08/202204/08/2022

Finance Minister Nirmala Sitharaman put forth a strong defence in Parliament of her handling of inflation as she compared current…

Central Excise Article

Demand of Central Excise Duty cannot be sustained being time barred and in absence of any suppression by the assessee

byCA Bimal Jain05/07/202205/07/2022

The CESTAT, Ahmedabad in the matter of Ambica Engineering Works v. C.C.E. & S.T.-Surat-I [Excise Appeal No. 10859 of 2020,…

GST Council MeetingGST in Media

47th GST Council clears proposal to Remove Tax Exemptions on some items

byAdmin28/06/202228/06/2022

The GST Council on Tuesday approved changes in tax rates on some goods and services while allowing states to issue…

GST in Media

GoM may suggest pruning GST exemption list ahead of Council meeting

byAdmin06/06/202206/06/2022

An empowered group of ministers (GoM) set up to look into rate rationalisation may propose pruning Goods and Services Tax…

Income Tax in Media

Don’t ask for tax exemptions, it is embarrassing: Revenue secy Tarun Bajaj

byAdmin01/03/202201/03/2022

The government on Monday made it clear once again that it was moving away from tax exemptions. While Finance Minister…

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