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The Income Tax Department, under the Ministry of Finance, Government of India has recently launched the Young Professional Scheme. Under this scheme, the aim is to strengthen the resources and streamline tax litigation management. The scheme will open opportunities for young graduates in Law and Accountancy to learn and acquire precious knowledge of the domain. […]
A recent decision to cancellation of the GST registration is been revoked by the Kerala High Court in a recent decision on the absence of a reasonable chance of getting heard. The applicant, M/s Ajit Associates Architectural Consultants Pvt. Ltd is a Private Limited Company that is involved in furnishing services related to architecture. Under […]
What is RCM Liability Under GST Section 9(3)? Various supplies under section 9(3) would have been notified where the tax is liable to get paid via the receiver under RCM. This article attempts to analyze the application of RCM to the purchase of goods from vendors whose turnover is below the registration requirement. Let’s say […]
GST revenue in July of Tamil Nadu and Karnataka has outdone the other states in average GST collection. The states are doing well in their growth in GST collection in the first four months of this fiscal year. On the contrary, Telangana has shown a decline by a single digit in its year-on-year growth rate […]
Complete guidelines would have been provided by the Central Board of Direct Taxes (CBDT) for the compulsory selection of the ITR for comprehensive Scrutiny at the time of FY 2023-24. As per the notification, laid on Policies on 24.05.2023 issued from F.No. 225/66/2023 /ITA-II, various letters/queries have been obtained in the Board from DsGIT(Inv.) and […]
As the ongoing sales over the e-commerce platforms ahead of Independence Day, the GST collection by Goa has been revealed. Goa’s GST collection grew 25%, over a period of three years, namely from 2019-20 to 2022-2023, as per the state government. The data was disclosed in the state legislative assembly, the GST revenue from e-commerce […]
Are you relieved that the income tax return filing season is over? But, for some assessee, receiving the return processing notification isn’t finished off the process this year. Since Budget 2022 various revisions would have been made within the laws of tax, which directed that you need to open your tax file again despite filing […]
The Kerala Bench of the Authority for Advance Ruling, in the case of IN RE: M/S. CHOICE FOUNDATION – 2023 (7) TMI 570 – AUTHORITY FOR ADVANCE RULING, KERALA, ruled that because the assessee and the joint venture are two separate entities in the means of taxation, the supply of services to the joint venture […]
Businesses are in dilemma responding to increasing GST notices from different state departments, as most companies handle taxation issues centrally. Especially service-based businesses face barriers to differentiation as per each state. These letters from various states request specific documents and representations as part of tax scrutiny. Furthermore, the frequency of such notices has dramatically increased […]
