Stay updated with the latest GST rate changes on various goods as recommended by the 50th GST Council Meeting. CBIC’s Notification 09/2023-Union Territory Tax (Rate) brings significant amendments
Check out latest GST rate changes on various goods as per 50th GST Council Meeting recommendations. CBIC’s Notification 09/2023-Integrated Tax (Rate) brings significant amendments.
CBIC issued Notification No. 09/2023-Central Tax (Rate) to implement 50th GST Council Meeting decisions, which resulted in rate changes for specific goods.
Notification No. 46/2023-Customs issued by Ministry of Finance (Department of Revenue) on 26th July, 2023, makes amendments to customs Notification No. 45/2017-Customs,, Notification No. 47/2017-Customs and Notification No. 50/2017-Customs. The amendments are related to the implementation of two schemes: the Scheme for Remission of Duties and Taxes on Exported Products (RoDTEP) and the Scheme for […]
The Central Government of India has approved the ‘Guarantee Scheme for Corporate Debt’ (GSCD) with the purpose of providing a guarantee cover against debt raised or to be raised by the Corporate Debt Market Development Fund (CDMDF). The scheme is aimed at stabilizing the corporate debt market during times of market dislocation. Key details of […]
Circular No. 13/2023-Income Tax: The government allows condonation of delay for filing returns of income claiming deduction u/s 80P for AYs 2018-19 to 2022-23.
Read how Gujarat High Court upheld ITAT’s decision, confirming that only the profit element embedded in Bogus purchases would be added to assessee’s income.
Read how the Madras High Court upheld the ITAT’s decision to estimate 4% profit for a road construction business, based on previous assessment orders.
Read the analysis and conclusion of the Swati Viren Karani Vs ITO case where the Gujarat High Court deemed section 148 notices issued between 1-4-2021 and 30-6-2021 as per Section 148A(b).
The Delhi High Court has held that reopening of assessment under Section 147 of the Income Tax Act is not valid in the absence of an allegation of failure to disclose material facts.