Understanding the confusion around GST exemption on non-branded food items after 18th July 2022. Learn about the new regulations and their impact.
Background: Remembering the good old days when we often received pocket money from our parents for funding our expenses, similarly under Goods and Service Tax (‘GST’) law Center apportions a share of its revenue to states for their expenses too. One such source of revenue under GST is the compensation cess levied on specified luxury […]
It is raining discounts not just on consumer goods but also on taxes. The Finance Minister on 05th July, 2019 in her maiden budget introduced Sabka Vishwas (Legacy Dispute Resolution) Scheme 2019 in order to curb the pending litigations under the erstwhile Indirect Tax Enactments. The scheme provides relief from tax, penalty, interest, immunity from […]
First full-time woman Finance Minister Nirmala Sitharaman presented her maiden Union Budget of Modi 2.0 Government on Friday 05/07/2019. Following are the taxation related key takeaways from Union Budget 2019- Part A: Indirect Tax A simplified single monthly return for taxpayers with an annual turnover of less than Rs 5 crore to file only quarterly returns; […]
