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The popular jaggery-based Indian confectionery, Chikki, comes in so many different flavours. The market offers a delightful array of Chikki flavours, ranging from the classic sesame (til) chikki to the immensely popular peanut chikki and the rich dry fruit chikki. However, the introduction of cocoa powder to create a new chocolate peanut chikki takes it […]
Tax experts advise five key implementations in GST regulations amid India’s merchandise exports facing a decrease for the last five consecutive months. The aim behind these modifications is to give relief to exporters so they can do better in global competitiveness. Exporters Want 5 Important Key Changes in GST Regulations Nirav Sanjay Karia, Partner & […]
E-invoicing has been enabled by the Goods and Services Tax (GST) department and will be required as of August 1, 2023. Taxpayers having an Aggregate Annual Turnover (AATO) of between Rs. 5 crore and Rs. 10 crore are liable for this. The AATO is the total annual turnover of a single legal entity which may […]
On Monday, the trade body CAIT made a case for reducing the GST rate on beverages from 28% which will be 40% including the cess. They questioned that it is too high and restricts the operating capital of small retailers. The Confederation of All India Traders (CAIT) requested the union finance minister to take into […]
When the professional receipts exceed Rs 50 lakhs of the individual then the advantage of the Presumptive Tax under Section 44ADA can not be taken. In that case, the individual is needed to create the profit and loss account and balance sheet and get his audit performed via a practising Chartered accountant. Latest Updates Tax […]
The income tax rates have undergone some noteworthy adjustments this year, according to the Finance Ministry. The income tax slab for FY 2023–24 as well as information on the old and new tax regimes can be found on this page if you’re looking for information on the rates and slabs of income tax that will […]
The 50th Goods and Services Tax (GST) Council meeting is in progress today, on July 11th, 2023. Chaired by Union Finance Minister Nirmala Sitharaman, this meeting holds paramount importance in discussing crucial taxation issues. It is important to note that the information shared is reflective of the present circumstances. We will continue to provide you […]
A top official stated on Monday that India would not change its Goods and Services Tax (GST) regime in the upcoming fiscal year, delaying a move that has been considered for more than a year to streamline its tax system and lessen the burden on consumers. The GST, which was adopted in 2017 and unifies […]
Smartphone manufacturers are optimistic about a recovery in demand, driven by tax relief in the budget 2023-24 that should encourage middle-class customers to purchase more gadgets. Experts in the market predicted that shipments, especially in the entry-level market, might increase by as much as 3%. Tax experts stated that Consumption demand and industrial growth across […]
