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Search results for: IT Act

Faster Tax and GST Refund for Capital Strain

Quick GST & Income Tax Refund Best Remedy for Capital Strain: CEO of Hinduja Global Solutions

Partha DeSarkar, Global CEO, Hinduja Global Solutions towards the upcoming budget 2021 declared: Allowing the impact from the Covid-19 pandemic, businesses and people seek high expectations from the union budget for high growth, which focuses on financial improvement and reliability. The world is aware that due to coronavirus the income of the government gets reduced […]

Disciplinary Proceedings for CAs

ICAI Starts Disciplinary Procedures Against CAs in GST Fraud Case

CA Institute has conducted strict proceedings with respect to 8 Chartered accountant who has caught in the nationwide campaign upon bogus GST invoice frauds in the last two and half months from Nov 2020. Allowing this move Mr. Atul Kumar Gupta president Institute of Chartered Accountants of India (ICAI), said that the revenue department’s letter […]

13th Installment of INR 6k Cr

FM Declared the 13th Installment to States for GST Coverage

The finance ministry shows mentioned the 13th weekly installment of INR 6k crore to the states on Monday, January 25, to bridge the GST shortage. From that Rs 5,516.60 crore was delivered to 23 states and a value of Rs 483.40 crore was delivered to the 3 Union Territories (UT) with Legislative Assembly (Delhi, Jammu […]

Budget 2021 for Education Sector

Govt Must Consider Low GST Rate for Education Sector in Budget 2021

Due to the Covid-19 pandemic, online classes and work from home protocols become the new normal. Due to these changes, a spike has been reported in demand for digital infrastructure across each and every sector of the country. Mr. Nitin Potdar, a Corporate Partner at J. Sagar Associates, and leading the education practice of the […]

GJ HC Permitted to Unblock the ITC

Gujarat HC Order to Unblock the GST ITC Available in Credit Record

Gujarat High Court ordered to unblock the Input Tax Credit (ITC) available in the credit ledger account. This order came up in the case where Nipun Bhagat along with a writ applicant challenged the action in which the defendant authority has blocked ITC by using the power under Rule 86A The harassment of the assessee […]

Medical Benefits to LIC

ITAT Bangalore Grants Medical Benefits to LIC Under Section 192

In the particular act providing benefits to the Life Insurance Corporation of India (LIC), the Income Tax Appellate Tribunal (ITAT), Bangalore bench the organization does not need to cut the tax with respect to the cash payment of cash medical advantage to its employees similar is in the fact of mere compensation outside the confines […]

TAIPA - Inclusion of Towers Under ITC of the GST Act

TAIPA Requests Govt to Bring Tower in GST ITC Eligibility Category

The Indian Telecom tower assembly has asked the telecom department along with the finance ministry to include the towers inside the items liable to claim the input tax credit beneath the GST act. T.R.Dua, Director-General, Tower and Infrastructure Providers Association (TAIPA) comments “Currently, the telecom infrastructure providers can not avail of the Input Tax credit […]

Latest Update in Tax Residence Rules for NRIs

Center May Provide Exemption for NRIs In Respect of Tax Residence Rules

The government declares upon the tax residence rules for FY 21 providing relaxation to the non-resident Indians (NRIs) along with others who come to India and need to prolong their stay because of the suspension of international flights. It is implemented to give the assistance on which duration will be eliminated besides calculation of the […]

GST on Electric Bill from Tenants

Gujarat AAR: Electricity GST Charged from Tenants Despite Free

The Gujarat authority upon an advance ruling for goods and services tax GST specified that the owners did not require to furnish GST on electricity or the charges taken from the tenants moreover, in addition, as the value of supply as per the lease agreement of immovable property rent. Gujarat AAR has been approached by […]

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