As part of a full clarification of the tax duty on a variety of products and services, the Central Board…
A Significant Change in Income Tax Return Verification Rules
Beginning August 1, the Income Tax Department has lowered the time limit for e-verification or hard copy submission of the…
GST: CBIC drops the mandatory e-invoice requirement for businesses with a turnover of Rs. 20 crore to Rs. 10 crore
Having effect from October 1, the Central Board of Indirect Taxes and Customs (CBIC) has made E-invoicing mandatory for enterprises…
Income Tax Return Filing: Things to Remember When Filing ITR for AY 2022-23
The deadline for filing the yearly individual income tax return (where no tax audit is necessary) for the tax year…
Behind the fuss regarding GST on necessities: two sides of the same coin
The GST council, in its 47th meeting, recommended a 5% fee on some necessary products like pulses, rice, cereals, and…
Without an investigation, the firm’s cash deposit cannot be added to the partner’s personal income: ITAT
The Amritsar Bench of the Income Tax Appellate Tribunal (ITAT), comprised of Anikesh Banerjee (Judicial Member) and Dr. M. L.…
India’s bold tax reforms Why is it too soon to rejoice 5 years?
It’s been five years since India implemented its Goods and Services Tax, and while revenue collection has increased, some observers…
GST on pre-packaged non-branded food goods is opposed by a trade association
Traders and industry groups across the state have urged that the 5% GST on pre-packaged non-branded food goods be repealed.…
If taxpayers do not file their ITRs by July 31, they may face a Rs 5,000 penalty
The deadline to file an ITR for the fiscal year 2021-22 is July 31, 2022. Unlike in prior years, the…
Kerala Finance Minister said the state government would not levy GST on items sold by small businesses
Thiruvananthapuram: Amid mounting opposition to the introduction of Goods and Services Charge (GST) on vital goods, the Kerala government stated…