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On 2nd August 2023, the 51st meeting of the Goods and Services Tax (GST) Council took place in New Delhi via video conferencing. The meeting was chaired by Nirmala Sitharaman, the Union Finance Minister, and attended by other officials including Revenue Secretary Sanjay Malhotra, Union Minister of State for Finance Pankaj Chaudhary, and various state […]
The 51st GST Council meeting on the date August 2nd, 2023 was conducted via video conferencing in New Delhi with Union Finance Minister Nirmala Sitharaman, presiding over the meeting with Union Minister of State for Finance Pankaj Chaudary, Revenue Secretary Sanjay Malhotra, and several state ministers. The gaming industry is quite disappointed with the GST […]
For managing the projects the tools of project management are used, it is generally performed by the project manager. Compared to simple projects which take lesser things complex projects need proper planning, assigning tasks, and setting deadlines, which confirms that everyone would comply with it and monitor the spent duration. The requirement for quantifying, objectifying, […]
An online presence in today’s digital world is necessary for people and businesses. It is hard to develop a website and takes time which needs pertinent technical expertise. Through the rise of no-code and low-code technologies developing the website would become much more accessible and user-friendly. The people are enabled to make their own websites […]
In a ruling, the Income Tax Appellate Tribunal (ITAT), Raipur bench has instructed the Income Tax Department to allow the delayed filing of Form 10B. However, the condition was provided by the bench that it should be filed before the “due date” of filing of return of income under Section 139 of the Income Tax […]
For distinct defaults done by the assessee, the penalties would get imposed under the Income Tax Act. Beyond penalties on defaults such as doing payment of Self Assessment Tax, default in payment of taxes, default on filing income returns, and others, the Income Tax department charges penalties for underreporting and misreporting of income. When a […]
The Income Tax Appellate Tribunal (ITAT), Cuttack Bench, has ruled in an appeal that an income tax return submitted with an error and subsequent notification u/s.143(1) is invalid. ITAT made the mentioned observation when an appeal was filed before it through the taxpayer, as against the order of the CIT(A), National Faceless Appeal Centre (NFAC), […]
The Gujarat State Tax Department, the central body for the administration and collection of different taxes in the state of Gujarat, has produced the Model Goods and Services Tax (GST) Audit Manual 2022 for State tax officials and officers. The model GST Audit Manual is designed to be a complete resource that would aid Gujarat […]
When the assessee did not disclose all material information in the income tax return, the Mumbai bench of the Income Tax Appellate Tribunal (ITAT) upheld the penalty under section 271(1)(c) of the Income Tax Act, 1961. The assessee, Sabara Impex Ltd., submitted its income tax return on January 12, 1997, stating a total income of […]
