Understand the Goods and Services Tax (GST) and its impact on businesses. Learn about GST rates, compliance requirements, and its role in simplifying taxation. Stay updated with the latest GST news and updates.
CA, CS, CMA : From April 1, 2025, businesses with multiple GST registrations must obtain ISD registration to distribute Input Tax Credit (ITC) a...
Goods and Services Tax : Revenue Officers को arrest और investigation की सीमित शक्तियाँ प्राप्त है...
Income Tax : Compare GST and Income Tax search and seizure processes, highlighting key differences in scope, authority, and taxpayer rights. Le...
Goods and Services Tax : GST rate on old and used vehicles, including EVs, increased from 12% to 18% effective 16 Jan 2025. Applicable on margin value for ...
Goods and Services Tax : Exploring challenges in availing Input Tax Credit (ITC) under GST and relief offered by Notification 183/2023. Understand the impl...
CA, CS, CMA : Get the latest Income Tax and GST notifications, updates, and circulars from February 10 to 16, 2025, including ITR filing deadlin...
Goods and Services Tax : KSCAA highlights issues in GST registration, suggesting uniform SOPs, better verification, geocoding fixes, transparency, and supp...
Goods and Services Tax : Karnataka CA Association urges upgrades to the Professional Tax portal, addressing issues like OTP errors, payment glitches, and l...
Goods and Services Tax : West Bengal's GST share dropped from 4.6% in 2019-20 to 4% in 2024-25. Learn about factors affecting revenue, government measures,...
Goods and Services Tax : Government addresses GST exemption on health & life insurance premiums, forming a GoM for review. Key updates on current exemption...
Goods and Services Tax : Calcutta High Court permits ITC claim under amended GST law, allowing rectification applications for late GSTR-3B filings for FY 2...
Goods and Services Tax : GST AAR West Bengal denies tax exemption for Webel Support Multipurpose Service Co-op Society, ruling their manpower services are ...
Goods and Services Tax : Calcutta High Court rules in favor of an exporter, overturning a GST refund rejection due to portal issues, citing natural justice...
Goods and Services Tax : Allahabad High Court quashes GST demand for interest & penalty, ruling Section 74 inapplicable due to lack of fraud or suppression...
Goods and Services Tax : Kerala High Court rules in favor of Shabu George, directing the release of cash seized during a GST investigation, citing lack of ...
Goods and Services Tax : GSTN allows company directors to complete biometric authentication at any GST Suvidha Kendra in their home state. Read the latest ...
Goods and Services Tax : Key updates on Indian Customs, including trade facilitation, GST awareness, sports events, and major enforcement actions on tax ev...
Goods and Services Tax : Kerala SGST Circular 5/2025 clarifies adjudication of Kerala Flood Cess under SGST/CGST Acts, detailing procedures for notices, ad...
Goods and Services Tax : Kerala SGST outlines guidelines under Section 161 for rectifying apparent errors in orders, notices, and decisions, ensuring unifo...
Goods and Services Tax : CBIC unveils trade facilitation measures, combats counterfeit currency, and detects ₹80 crore GST fraud. Key developments from I...
Under the existing provisions of section 143(1 B), the Central Government may, for the purposes of giving effect to the scheme of centralised processing of returns under section 143(1A), issue a notification relating to such processing of returns. Such a notification can be issued up to 31st March, 2010.
Under the existing provisions of section 115JB of the Income Tax Act, a company is required to pay a Minimum Alternate Tax (MAT) on its book profit, if the income-tax payable on the total income, as computed under the Act in respect of any previous year relevant to the assessment year commencing on or after the 1st day of April, 2010, is less than such minimum.
Section 80-ID of the Income-tax Act provides for 100 per cent deduction for five years, of profits derived by an undertaking from the business of a two-star, three-star or four-star category hotel or from the business of building, owning and operating a convention centre located in the National Capital Territory of Delhi and the districts of Faridabad, Gurgaon, Gautam Budh Nagar and Ghaziabad, provided such hotel has started functioning or such convention centre is constructed during the period 1.4.2007 to 31 .3.2010.
Under the existing provisions of section 80-IB(10), 100 per cent deduction is available in respect of profits derived by an undertaking from developing and building housing projects approved by a local authority before 31.3.2008. This benefit is available subject to, inter alia, the following conditions:
As the budget, 2010-11 has brought many changes in Excise Law. It varies from areas like applicable rate of excise duty, their Cenvat Credit allowable, exemption from excise duty and so many. The duty on umbrella and umbrella parts are closely affected due to applicability of new Notifications inserted in this Budget. Therefore, we are giving the analysis / comparison of notifications which will help to know how they will affect upon manufacturer at the time of purchase of materials as well as at the time of clearance of finished products.
Month of February is the shortest month of the year and this shortest month gets the highest importance other than any month of the year. For Indian economy it is the month where all expectation and desires followed with wishes and prayers are expected to come true. For some it comes true and for some it remains negative or dull. We celebrate festivals but the dates or months or time changes but the festival of February is always fixed that is at the last week of February.
Yesterday the Parliament of India have created a history by making a walkout even before the budget was yet to be finished. The opposition parties made the walkout once it was declared in the budget that petrol prices to go up. To levy excise duty of Re1 per liter on petrol and diesel have made the whole of India to think about the probable price they will have to pay for every commodity.
ICAI welcomes the Union Budget presented by the Hon’ble Finance Minister Shri Pranab Mukherjee, which can be termed as a relief oriented budget. The Budget skillfully balances the need to step up the economic growth on one side, check inflation on the other side and also address the socio-economic needs of the nation.
Finance Bill 2010 has made an amendment in the definition of the taxable service ‘Renting of immovable property’ [section 65 (105) (zzzz)] to provide explicitly that the activity of ‘renting’ itself is a taxable service. This change is being given retrospective effect from 01.06.2007.
It is, therefore, proposed to also allow deduction in respect of any contribution made to CGHS by including such contribution under the provisions of section 80D. The deduction will be limited to the current aggregate as mentioned in the section.
