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The Maharashtra Authority of Advance Ruling (AAR) stated that the supply of Tata garbage tipper vehicles to Municipalities draws 28% GST. The two-member bench of M. Rammohan Rao and T.R. Ramnani sees that the garbage tipper vehicles could be utilized for the purpose of goods transportation. The starting words of Entry 8704 are “Motor Vehicles […]
The union finance minister Nirmala Sitharaman had recently stated her suggestions to the state finance ministers with the inclusions of chief ministers, deputy Chief Ministers, also senior officers from centre and state. TV Somanathan, the Union Finance Secretary greeted all the senior ministers and officials by mentioning the importance of the meeting as per the […]
With the second wave of corona being more deadly and gripping the entire country within its trap, states are seeking relief from the centre. They are demanding exemption in the GST rates of medicines (Remdesivir, Medical-grade oxygen used in oxygen cylinders, and related supplements) that are used for treating this chronic illness. The GST rate […]
Recently the Ministry of Corporate Finance along with a discussion with the government, made some of the latest tax rate amendments in the company of a domestic nature. The updated corporate tax rates were introduced in the Income Tax Act 1961. Latest Update 03rd January 2023 Applicable tax rates for specific domestic companies (Section 115BAA) […]
The panel head and Finance Minister Nirmala Sitharaman declared that there will soon be alterations in the GST rates for various goods and services that are expected to be the yearly affair rather than a subject of frequent amendments. Further stating strong defiance against the process of frequent amendments in GST rates she said that […]
It’s been more than two years that Goods and Service Tax (GST) is prevalent in India, since then there has been a series of amendments and modifications made by the government in the provision with the intention to achieve an ideal tax collection mechanism. GST tax rates have been amended which has a direct impact […]
Finance minister Nirmala Sitharaman told on Monday that the suggestions to cut down personal income tax rates, by lawmakers to encourage demand, has been presented to the board and she also assured that the Government of India (GOI) will “take action at an appropriate time”. FM also added that the rate cut would though-out for […]
The finance ministry has to come up with solid plans to get the desired figures of tax revenue. Finance Minister Nirmala Sitharaman, who was supposed to introduce measures to accelerate the stagnant economy within a month of her maiden budget being approved by Parliament. The council is asking for suggestions from separate section stakeholders before […]
According to reports, the government is under a heavy onus of fiscal deficit. Apart from this, the growth rate has been steadily decreasing and investors have not yet invested as much as is anticipated. Budget preparation has already begun and there are many challenges before the government, such as the slowdown in the growth rate […]
