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According to the Goods and Services Tax Act of 2017, the Delhi High Court’s Division Bench recently ordered the return of the money the GST officers had taken into their possession, along with interest. The authorities discovered and seized custody of cash totaling Rs 1,22,87,000 during the course of the search at the petitioners’ home. […]
With the advent of social media, there is an increasing need for bloggers and content producers. The popularity of the blogging industry is largely due to its high-income potential as well as the platform it provides for personal expression. The Income Tax Act’s tax regulations apply to the money a blogger makes. Definition of a […]
On the Delhi-Amritsar National Highway on Saturday, Punjab Finance and Excise Minister Harpal Singh Cheema led a team of tax department employees in a special check on cars transporting commodities in an effort to arrest tax evaders. When Punjab Minister for Finance, Excise and Taxation Harpal Singh Cheema entered the Tax Department teams in a […]
Scrutiny notifications and intimations have been circulated recently, suggesting that the department is requiring taxpayers to reverse the excess input tax credit claimed in Form GSTR 3B as compared to credits shown in GSTR 2A. How reliable are such communications? Is the taxpayer compelled by law to reverse such credits? We shall go over the […]
More than 40% of the total wealth made is held by the top 1% of the wealthy people in India from 2012-2021, but only 3% of the wealth would come into the account of the bottom 50%. Only 5% of the Indians hold more than 60% of the country’s wealth. The same would be directed […]
The most effective word in the world would be Free and the another closer would be Discount. Since people like to feel that they had saved money while doing a purchase of goods or claiming services at a discount and would go with a good deal. You too felt good when you bought the food […]
Free Samples would be called the products furnished to consumers to try prior to buying. Furnishing free or sample products would be the tried and tested marketing technique the industries use in India like FMCG, pharmaceuticals, and others. For instance, Buy 3 and get 1 Soap free or 1 Garment free on buying the 3 […]
The Tamil Nadu Authority for Advance Ruling (AAR) ruled that the petitioner, VBC Associates does not qualify for a claim of Input Tax Credit (ITC), under Section 17 (2) of the CGST /TNGST Act read with Rule 43(a) of CGST /TNGST Rules 2017, on the Goods/Services utilized in the installation of Solar Power Panels, which […]
The applicant’s provision of regular medical monitoring services and other logistical support to senior citizens at their doorstep does not qualify for exemption from the application of the Goods and Services Tax, which is subject to an 18% rate as determined by the West Bengal Authority for Advance Ruling (AAR). The authority noted that the […]
