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We must have heard about the era of the Industrial Revolution, the IT era and so on. But what about this era? This is an ‘Era of Transparent taxation’ or in other words ‘Era of Tax reforms’. The reason attributed to the new ‘era of Transparent Taxation’ or ‘era of tax reforms’ is the blend […]
What is Corporate Tax? Corporate tax is a direct tax applicable to all the companies registered under the Companies Act of India and they are required to pay the corporate tax as per the rate decided by the Ministry of Corporate Affairs. The Corporate Tax rate cut was one of the sensational happenings of 2019. […]
The Taxation Law (Amendment) Bill 2019 passed by Lok Sabha is all set to change the current dynamics of corporation tax rates. This recent bill passed is an attempt to replace the orders issued in the goods and service tax (GST) Council meeting Get to know about GST (Goods and Services Tax) council 1st to […]
The 37 Council meeting chaired by Union Finance Minister Nirmala Sitharaman on 20 September concluded with various amendments in tax laws including tailoring of corporate tax rates from 30% to 22%. The reform is the breeze of relief for India in this stressed economy. Depressed GDP (current 5% from 8% a year ago), on the […]
The recently made president of Confederation of Indian Industry (CII) Rakesh Bharti Mittal came against the multiple numbers of tax slabs of GST and asked for rather rationalised tax slab structure.
India has witnessed a strong rise in income tax filings and non-corporate tax collections, exhibiting a broader tax base and more assertive formalisation of the economy, as specified by the Economic Survey 2025-26. In the survey, it cited that the ITR submitted between 2024-25 touched 9.2 crore, compared to 6.9 crore in 2021-22. The same […]
The Bombay High Court in a case ruled that the Goods and Service Tax (GST) department could not furnish the tax demand against the corporate debtor and set aside the demand order without the applicant claiming the other remedy provided in the odd facts and the violation of natural justice. The applicant Prestige Mulund Realty […]
Rajasthan’s Authority for Advance Ruling (RAAR) carried that Goods & Services Tax (GST) on corporations from overseas group entity liable to get paid merely one time, not periodically. Experts cited that the ruling is in line with the circular, for the entire duration of the guarantee it has the challenge of filing the full tax. […]
Before Finance Minister Nirmala Sitharaman, Real estate developers have made a representation to revise the circular that levies an 18% GST on the corporate guarantees provided via concerned parties. “According to developers, GST at 18% rate should apply to either the actual consideration or 1% of the guaranteed amount, choosing the lesser of the two,” […]
