Export Policy of items [Wheat Flour (Atta), Maida, Samolina (Rava / Sirgi), Wholemeal atta and resultant atta] under HS Code 1101 remains ‘Free’,
Nitaben Shaileshbhai Patel Vs ITO (ITAT Ahmedabad) ITAT noted from orders of the authorities below that the assessee has remained non-cooperative throughout assessment and also appellate proceedings. Both the assessment order and appellate orders are ex parte orders passed after noting the fact of non-compliance by the assessee to various notices issued to it by […]
Maharashtra GST busts fake ITC racket Operator of three firms arrested for fake bills worth Rs.231.49 cr. Maharashtra Goods & Service Tax Department has arrested Mr. Brijesh Vanitlal Shah, age- 48, operator of M/s. Om Impex and two other firms, on 04.08.2022 under the special investigation operation carried out against tax evading firms. An investigation […]
Understanding the GST implications on by-products of milling of dal/pulses such as chika/kahnda/churi. Get insights into the recent government clarification and its impact on taxation.
Recently in cases of large no. of tax payers an intimation U/s. 143(1) of the Income Tax Act, 1961 has been issued, wherein an adjustment has been made regarding income reported in clause 16(d) of the tax audit report
Towards becoming a five trillion dollar economy & beyond, Govt increased its capex budget by about 35% in 2021-22 & by another 35% in 2022-23.
CHANGES IN GST SLAB – At present, there is no recommendation from the GST Council for change in the existing GST rate slabs.
All eligible bodies including District Mineral Foundation Trusts can apply for exemptions as per Section 10(46) of Income-tax Act, 1961
Government takes several steps from time to time to check GST evasion including Using robust data analytics and artificial intelligence to identify and track risky taxpayers and detect tax evasion.
Whether the Government proposes to consider reducing the Goods and Services Tax (GST) rate of 18 per cent on wet grinders
