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The government is coming up with ways to smoothen the difficulties faced by the population because of the spread of coronavirus in the country. Both economic and health-related measures are being taken to control the situation. The outbreak of COVID-19 has put the people under a lot of stress as firstly the situation is not […]
The whole country is trying to fight the outbreak of COVID-91 in its own way. The government is also taking the necessary decisions to control the further spread of coronavirus. Lockdown is imposed by the government for the same. The whole country will be locked down till 14th April, 2020, but some changes will be […]
On March 31, 2020, the Central Board of Direct Taxes (CBDT) issued some new provisions related to Tax Deducted at Source (TDS) and TCS collections and other related works. The provisions were introduced because of the outbreak of COVID-91 in the country. The provisions were issued related to the issue of certificates of the lower […]
It is expected that the Income Tax Department will be losing approx 10% of the total income tax collections due to the outbreak of Covid-19. The department is expected to recover INR 10 lakh crores to INR 10.5 lakh crores against its actual target of INR 11.6 lakh crores. The department has already collected a […]
The Bombay High Court said that the credits of Goods and Services Tax (GST) collected by the taxpayers are monitored by the Central Board of Indirect Taxes and Customs (CBIC). The board decides the time limit and way of the utilization of the credits. The experts said that as the HCs of Haryana, Delhi, Calcutta, […]
The Authority of Advance Ruling (AAR) Bengal, that Goods and Services Tax (GST) at the rate of 12% will be applicable to the supply of works for Metro and Monorail Construction contracts. The order was given under the case of an application raised by ABB India Ltd., under which the authority found that it was […]
The Central Board of Indirect Tax and Customs (CBIC) declared clarification on the distribution of the Input Tax Credit for the cases of business reorganization like a merger, demerger, amalgamation, change in constitution or change in the ownership of the business mentioned under section 18 (3) of the Central Goods and Services Tax (CGST) Rules […]
The recent outbreak of Coronavirus Covid-19 is expected to affect the Gross Domestic Product (GDP) of all the countries in the world. India is also not left out of this. The government is coming up with exceptions and is extending the due-dates of the returns for the convenience of the taxpayers because of the outbreak. […]
In an notification shared by the Central Board of Indirect Taxes and Customs (CBIC) the government has made it mandatory for all partnership firms, the Karta of Hindu Undivided Family and the other signatories of all types to link and authenticate AADHAAR number for the registration in Goods and Services Tax Get to know the […]