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According to a report, foreign companies such as Facebook, Google, etc have received notices from the Goods and Services Tax (GST) authorities to ensure compliance with new GST regulations. These notifications have been sent to approximately 70 digital companies, including advertising firms, Edtech companies, and online firms, to align with the requirements of an 18 […]
Numerous HR procedures can be quite tedious, draining your energy without providing significant value. As an HR professional, if you had the chance, which processes would you prefer to see automated? Think about those tasks that require minimal thought and feel like repetitive chores, ones you’ve performed countless times with minor variations, typically limited to […]
Non-resident Indians (NRIs) need to get a Tax Deduction at Source (TDS) certificate in order to avoid having taxes deducted on income generated in India. NRIs cannot utilize Form 15G/H to excuse themselves from TDS on their income as residents may. Instead, they must submit an application to the assessing officer to get a certificate […]
At the time of ensuring the additions towards the cost reimbursements as fees for technical services (FTS), the Mumbai Bench of Income Tax Appellate Tribunal observed that the taxpayer does not have any foundation for the allocation or actual cost incurred for affiliates. Aby T. Varkey (Judicial Member) and S. Rifaur Rahman (Accountant Member), presiding […]
With the impending introduction of the new Tax Collection at Source (TCS) on foreign remittances scheduled for October 1, the Travel Agents Association of India (TAAI) has issued a last-minute request to the government. They are urging authorities either to revoke this decision or postpone its enforcement until the next fiscal year, allowing for discussions […]
Starting from October 1st, there will be an 18% Integrated Goods and Services Tax (IGST) imposed on the import of online services for personal use from offshore digital service providers. These providers include software vendors, content streaming platforms, social media companies, and search engines that host advertisements. This new tax regulation is by a directive […]
The late payment of Tax collection at source (TCS) and Goods and Services Tax (GST) does not constitute a penalty and should, in fact, be eligible for deduction under Section 37 of the Income Tax Act, 1961, the Jaipur bench of the Income Tax Appellate Tribunal (ITAT) recently ruled. The taxpayer involved in this case […]
The Superintendent of Central Tax must make an unbiased decision independently, unaffected by the guidance from the DGGI, Kochi Zonal Unit, the Kerala High Court has ruled. Justice Dinesh Kumar Singh’s bench has noted that the DGGI, Kochi Zonal Unit had already made the decision to cancel the GST registration of the petitioner. The competent […]
During an event on Saturday, Finance Minister Nirmala Sitharaman stated that the North Eastern states have experienced a significant increase in their GST revenue following the implementation of the Goods and Services Tax (GST) in 2017. Sitharaman, speaking at ‘Conclave 2023,’ pointed out the favourable impact of the Goods and Services Tax (GST) on the […]
