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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 […]
The Government of India, on Monday, declared that the deadline for filing monthly GST sales returns for the month of May has been extended by 15 days to June 26. In the 43rd meeting of GST council Smt @nsitharaman will chair the 43rd GST Council meeting via video conferencing at 11 AM in New Delhi […]
The Tripura High Court passed a ruling that the GST shall be levied on the sale of rice even if the Brand name is not registered. Here in this case the petitioner is Messrs Sarvasiddhi Agrotech Pvt. Ltd. which is a registered company and is in the trade of the supply of rice in the […]
Amidst the fire and sword of the second wave of Corona-19, there is a sign ofrelief —The Central Government has extended the last date for Filing belated and revised Returns for both direct tax (Income Tax) and Indirect Tax (Goods and Services Tax) Payment of Tax Filing of appeals. Along with the above-mentioned breathers, the […]
Foreign Investment in any economy, whether FDI or FII, boosts growth and development in that economy. This has been witnessed by India also since 1991. Having said that, various tax mechanism also comes into play with the globalization. One such mechanism is Non-Resident Taxable Person (NRTP) in registration. In simple words, it is the registration […]
The Karnataka Authority of Advance Ruling (AAR) has passed a ruling that 12% Goods and Services Tax rate is applicable on import of Pharmaceutical Reference Standards prepared Laboratory Reagents. The petitioner, Kaustubha Scientific Research is a person registered as per the proviso of the Central Goods and Services Tax Act, 2017 in addition to the […]
In order to curb the sudden rise in fake ITC cases, The Punjab and Haryana High Court has rejected the petition for the grant of bail of the petitioner. “The petitioner Mohit Bathla had prayed for granting regular bail for offence as per Section 132(1)(b) and 132(1)(c) that is punishable as per Clause L(i) of […]
The Odisha Authority of Advance Ruling (AAR), on Tuesday of this week, has passed a ruling that the Supply of items such as birthday stickers, candles, and so on does not qualify as Composite Supply. Here, in this case, The Applicant is “Pioneer Bakers” that is a registered Partnership Firm and since the year 1997, […]
