Respondent is engaged in providing services with regard to maintenance and repair of computer software. Vide Notification dated 21.08.2003, the maintenance services related to computers, computer systems or computer peripherals were exempt from payment of service tax.
Fisheries has been recognized as a ‘Sunrise Sector’ and has demonstrated an outstanding double-digit average annual growth of 10.87%since 2014-15. The sector has reached record fish production of 142 lakh tons in FY 2019-20 and has immense potential for growth.
CA firm of M/s Starcrest Services Pvt. Ltd. M/s Rampal and Company had collected GST from M/s Starcrest Services Pvt. Ltd. for onward deposit to government exchequer towards GST liability of the company but they did not deposit the amount approximating of Rs. 12.67 crore in the government exchequer and in turn mis-appropriated the same.
This Budget mark a clear directional change for the Indian economy and that directional change is not what the government has offered as a sudden response, but it was something that was preoccupying the Indian minds for over 30 years,
Ministry of Finance, Department of Expenditure has released 14th weekly instalment of Rs. 6,000 crore to States today to meet the GST compensation shortfall.
Reduction of import duty on copper scrap from 5% to 2.5% announced in Union Budget 2021-22 to boost recycling of copper in the country. This will have social, environmental and economic benefits and also has employment generation potential.
Income Tax Department carried out search and survey action on 29.01.2021 in the cases of three leading businesses of Assam. The groups are engaged in construction, contracting and business of tea garden. The search and survey actions were carried out at 20 locations in Guwahati, Delhi, Gurugram, Kolkata, Siliguri Alipurduar, Tezpur and Nalbari (Assam).
MCA decided to initiate the process of decriminalization of compoundable offences under the limited liability partnership (LLP) Act, 2008, for greater ease of doing business for law abiding LLPs.
HIGHLIGHTS OF THE UNION BUDGET-2021 -22- Tax proposals- International Taxation – 1. Addressing mismatch in taxation of income from notified overseas retirement fund [Section 89A]
Rates of income-tax in respect of income liable to tax for the assessment year 2022-23 i.e. Financial Year 2021-22 The rates for deduction of income-tax at source from ‘Salaries’ or under section 194P of the Act during the FY 2021-22 and also for computation of ‘advance tax’ payable during the said year in the case […]
