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The pen industry is facing double problems of Rs 2000 cr due to ongoing covid-19 and from the GST said the officials. The pen manufacturer states that 18 % GST has been imposed by the central board of indirect taxes “Recently, many of the exporters have come under the tracing radar of tax authorities in […]
The union finance minister Nirmala Sitharaman has finally taken some relief measures on the basis of currently widespread coronavirus pandemic. The decisions are taken to provide relaxation to the various sectors as well as to the taxation industry. In her video conference with all the state finance ministers and panel, she has talked on all […]
As the assessee’s non-appearance was judged to be dishonest, the Calcutta High Court recently rejected to quash and set aside the judgment reached by the Additional Commissioner, Central Goods and Services Tax (CGST), and Central Excise against the assessee. In response to the Show Cause Notice issued against the assessee according to Section 73 of […]
For the taxpayer ruling the Bangalore bench of the Income Tax Appellate Tribunal (ITAT) comprising Shri N. V. Vasudevan, Vice President, and Shri Chandra Poojari, accountant member sees that the fact that taxpayer losses to answer to income tax notices because of pandemic situation is a reason for the delay and hence rendered the income […]
While condoning a late 1217 days in furnishing the income tax plea because of the covid-19 pandemic, the Income Tax Appellate Tribunal (ITAT), Chennai bench has levied a cost of Rs. 25,000 the taxpayer as a state to favor these delays. The taxpayer, M/s. Kal Airways Private Limited questioned an assessment which is mentioned under […]
Covid-19 medicines and instruments are sold at a GST rate of 5% while the additional medicines are being sold at a GST rate between 5% to 12% ever since the pandemic begin, Central minister of state for the Finance Pankaj Chaudhary mentioned in the Lok Sabha. Chaudhary indeed mentioned that 66% of the government-sponsored health […]
The second wave of Corona-19 has ruined and devastated the life of crores of people on our planet. To date, nearly 185,390,254 people have slipped in this death trap; however, the major proportion of people have survived and the others have lost their lives. Still, there are hundreds of people who are still struggling for […]
The two corona waves have ruined the entire planet and have choked production, shut down the industries, led to cash crunch but increased the registration of companies. Similar to the notion that “Action speaks louder than words” there is a saying that “facts speak better than words”. This is proved when we open the statistics […]
You shall be surprised to know that as per the report of SBI research, the government exchequer shall improve even after the 2 pandemic shocks that the Indian economy has received — If it is assumed that there would be no third pandemic, the fiscal position of the Centre and states for Financial Year 2022 […]
