The implementation of the GST law in India has been prefaced by a narrative of national aspiration and global exceptionalism. The government has been working to simplify the whole GST framework for India Inc. by changing the reporting technique to make GST a “Good and Simple Tax,” so that only non-compliant assessors are questioned or…
The first challenge a taxpayer encounters when submitting an Income Tax Return (ITR) is determining which ITR Form to use. A salaried taxpayer, for example, is intended to file ITR-1, however having more than one residential property, having any capital gain, and a variety of other factors preclude such an assessee from filing ITR-1. With…
The Kochi Zonal Unit of the Directorate General of GST Intelligence, which has authority over Kerala and Lakshadweep, has discovered 420 crores in GST evasion. It has recovered around 115 crores of tax evasion amount in FY 2021-22 across various sectors. In the current fiscal year, the Unit discovered around 283 crores with a realization…
The Income Tax Appellate Tribunal (ITAT) Bangalore Bench has ruled that the distribution fees paid by Google India to Google Ireland under a Distribution Agreement, under which Google India was appointed as a distributor of the AdWords program to advertisers in India, do not constitute ‘Royalty’ under the India-Ireland DTAA. The Bench of George George…
According to official sources, the Narendra Modi 2.0 administration may choose not to restructure the Goods and Services Tax (GST) slabs before leaving power in May 2024, because inflation is expected to remain high for a longer length of time. Following state assembly elections in Himachal Pradesh this November and Gujarat in December, as many…
Pressure is mounting on the leaders of Britain’s two major political parties to embrace greater wealth taxes, as concerns rise about the impact of a fresh austerity push amid the cost-of-living crisis. A new coalition of 40 charities and campaign groups, including Oxfam, Save the Children, and Christians Against Poverty, said Britain’s tax system was…
The Central Board of Direct Taxes (CBDT) has extended the deadline for filing income tax returns (ITRs) for corporations and individuals whose accounts must be audited until November 7, 2022. Previously, the deadline for submitting ITR for these assessees was October 31, 2022. The CBDT extended the deadline for filing audit reports last month. As…
Diwali is a large event in which people share presents with family, relatives, and friends. However, the monetary worth of these donations may occasionally exceed the threshold limit. If unreported in your income tax return, or if you fail to quote your PAN as required by law, it is guaranteed to attract the attention of…
The government has extended the deadline for filing GST returns for September by one day, to October 21, according to the CBIC on Friday. The GST portal was down on Thursday, the deadline for filing monthly GST reports for certain taxpayers. Following that, the Central Board of Indirect Taxes and Customs (CBIC) stated that an…
The High Court of Karnataka has ordered the State government to determine the rate of app-based auto rickshaw aggregators within 15 days, which is an important decision. Up until that point, the Court has permitted the service providers to levy an extra 10% fee on top of the government-set rate. The government set the auto…