Six years after the rollout of the biggest indirect tax reform of India, the consistent monthly revenue of Rs 1.5 lakh crore from the Goods and Services Tax (GST) has established itself as the new normal. India implemented the Goods and Services Tax (GST) on July 1, 2017, marking a significant milestone in tax reform. […]
Government of India, Department of Commerce, Directorate General of Foreign Trade (DGFT) announces amendment in the export policy of Non-Basmati rice under HS Code 1006 30 90. Read the notification for revised export policies and conditions.
ICAI announces empanelment of members as observers for the November/December 2023 Chartered Accountants Examinations. Eligible members can apply online. Learn about eligibility criteria, duties of observers, honorarium, and exam centers.
SEBI circular introduces new category of ESG investing schemes for Mutual Funds, allowing multiple schemes with different strategies. Enhanced disclosures and transparency measures implemented.
Read the consultation paper on prudential norms for exposure of clearing corporations. Understand the proposed criteria for banks, exposure limits, and more. Submit your comments by August 10, 2023.
Kerala High Court in Dhanya Sreekumari v. State Tax Officer held that cash not being a stock-in-trade of assessee, was not a thing that ought to have been seized and directed Revenue Department to release cash seized to assessee.
In the case of Renuka Sugars Ltd vs State of Gujarat, Gujarat High Court examines validity of lodging a supplementary refund claim under ‘any other’ category for a balance refund amount due to an arithmetical error.
Read the full text of the order of ITAT Jaipur in the case of Lalit Kumar Kalwar Vs ITO. The quantum appeal is allowed, and the deduction under Section 54F is granted, resulting in the penalty being vacated.
The Calcutta High Court rejects a writ petition challenging a tax assessment order, reaffirming that a Writ Court does not act as an assessing officer or an appellate authority
As businesses expand across multiple locations and involve various users in their operations, ensuring compliance for TDS (Tax Deducted at Source) and TCS (Tax Collected at Source) becomes increasingly complex.
