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The Central Board of Indirect Taxes and Customs (CBIC) has issued a clarification about the Applicability of the mechanism of Dynamic Quick Response (QR) Code on Business to Consumer invoice. Latest Update in QR Code Under B2C 6th July 2021: “CBIC tweeted that no fine under section 125 of CGST Law, shall be levied for […]
Good news for the hospital industry. There is a price cut of Maruti Suzuki EECO Ambulance by Rs 88,000. Now after the reduction, it costs Rs 6.17 lakh in Delhi. This offer is valid till September 30 of this year. The reason attributed to the price cut is the revision in GST rates Grab the […]
In a country where income from agriculture is tax-free, more than half of the country is dependent on agriculture and mechanised agriculture has recently arrived, the Central Board of Indirect Taxes and Customs (CBIC) has put a clarification that laterals/parts that are to be used uniquely or principally with sprinklers or drip irrigation system shall […]
In a country where the Right to Education is in force, The cost of education in India is skyrocketing since the last few years and it is an item of main expenditure in the checklist of the parents. In an attempt to ease the burden of heavy fees on the parents, the government has waived […]
Most probably, India’s Fiscal Exchequer from Goods and Services Tax (GST) collections is likely to recover from July onwards after witnessing a fall in May and June as per the official data related to ‘one-way bills’ for the first fortnight of the month of June. The data connotes the gradual comeback of economic activity that […]
Recently Section 16(2)(aa) on Input Tax Credit has been added by Finance Bill. And the implication of this insertion is that it has empowered already existing Rule 36(4). The reason for inserting 16(2)(aa) is being that Rule 36(4) was weak and so, has been challenged before various Authorities & High Courts many times. Consequently, there […]
It is a big relief to Covid patients who need to urgently approach private hospitals or who have not found a place in the government hospital. To date, the number of Covid Patients in India is 29,510,410 which is more than the population of some European countries. Out of the aforesaid figure, nearly 374,305 people […]
The launching of e-Invoicing has been a game-changer considering the facts and circumstances in India. It has been a sort of new revolution that shall transform and smoothen. Invoicing Process Revamped Tax Reporting Fuel the Interoperability of the Direct and Indirect Ecosystem Let’s understand the aforesaid transformation with the statistics related to eight months posts […]
Recently, the Nagpur Branch of Western India Regional Council of the Institute of Chartered Accountants of India (ICAI) organised a study circle titled ‘Knowlege Ki Pathshala’ that covered 10 latest amendments/Judgments/Advance Rulings and other important issues under GST, Income Tax, and Corporate law. The basic objective for organizing this series was to update CA members […]
