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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. Let’s understand the aforesaid transformation with the statistics related to eight months posts the launch of e-invoicing. There are nearly one lakh suppliers who have utilized e-invoicing […]
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 […]
Amidst the claims or so-called rumours that the state will no longer exert pressure on the Government of India with reference to taxation related issues on Covid combating drugs and devices, The highest authority of GST in India, the 44th GST council Meeting that is chaired by Union Finance Minister, shall meet about the issue […]
The Karnataka Authority of Advanced Ruling passed a ruling that 18% GST is liable to be paid on the selling and manufacturing of Automatic Weighing Machines The applicant, Wave Colour Techniques is indulged in the manufacturing and supply of machines to farmers and farmer’s cluster in the domain of Grapes and Raisin Processing namely Raisin […]
