GST on commercial training is 18%, while educational institutions’ services and books are exempt. Details of GST collection and measures for education affordability.
The government considers GST reforms based on GST Council recommendations. Recent changes include ITC extension, interest waivers, and compliance easing.
Corporate tax collections rose post rate cuts from AY 2020-21, except during COVID. Budget 2025 proposes presumptive tax for electronics manufacturers.
The Ministry of Finance has notified the implementation dates for specific provisions of the GST Amendment Rules, 2024. Key rules take effect from Feb & Apr 2025.
Calcutta High Court quashes GST penalty and goods detention, ruling no intent to evade tax. Authorities directed to release goods within four days.
The Income Tax Bill 2025 aims to simplify tax laws by replacing the 1961 Act. It includes 23 chapters, 16 schedules, and 536 sections for streamlined taxation.
CESTAT Chennai held that when the benefit of an exemption Notification is claimed, the claimant has to necessarily fulfil all the conditions prescribed under the said beneficial Notification.
Supreme Court directs various responsible ministries to jointly constitute a Committee comprising subject experts to consider the desirability of recommending a legal framework for the benefit, protection and regulation of the rights of domestic workers.
Therefore, the procedure that is required to be completed for issuance of notice under Section 148 of the Act is required to be completed prior to the expiry of the time limit as prescribed under Section 149(1) of the Act.
Perquisites and Profits in Lieu of Salary are important components of taxable income under the Income Tax Act of 1961. These refer to additional financial benefits, compensations, or payments that an employer provides to employees beyond their regular salary or wages. They are considered part of the employee’s income and are therefore subject to taxation.
