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In the state of Thiruvananthapuram, various shops and eateries are fraudulently levying GST. These include business owners who have not registered for GST and those who continue to collect taxes long after their GST registration has been cancelled or has expired. It has been shown that mainly the restaurants tend to commit these offences. A […]
In this post, we have discussed some of the key elements examined in the online Deloitte Survey 2023. The Goods and Services Tax (GST), introduced in July 2017 as India’s most substantial tax reform post-independence, has completed six years since its implementation. This reform has brought about noteworthy changes in businesses, enhanced supply chains, and […]
A report released on Thursday tagged a genuine exporter as ‘risky‘ and informed that it will affect India’s exports and the inter-ministerial board including representatives from commerce and finance ministries is needed to determine its detailed outlook before stigmatising them in such a category. Merely based on certain risk factors of customs, GST, income tax, […]
Are you relieved that the income tax return filing season is over? But, for some assessee, receiving the return processing notification isn’t finished off the process this year. Since Budget 2022 various revisions would have been made within the laws of tax, which directed that you need to open your tax file again despite filing […]
The financially strapped Kerala government intends to request that the Central government consider waiving the royalty on earth/boulders and refunding the State Goods and Services Tax component for the National Highway projects in the state—the Ernakulam Bypass and Kollam-Shenkottai NH. The State has already asked the Centre to waive the proposed 25% State share of […]
The number of Income Tax Returns submitted touched a record high of more than 6.77 crore in the assessment year 2023–24, according to a statement released on Tuesday by the Income Tax Department. In comparison to the total number of ITRs filed during the prior assessment year, which saw 5.83 crore returns filed, this amount […]
The Indian government introduced the new GST regime six years ago and a recent statistical report by GSTN provides a comprehensive analysis of its implementation. The following is a list of the contents which is merged with the report: The report shows the total number of returns filed on a monthly basis since July 2017, […]
A show cause notice should comprise the foundation of the case laid on which the action would be important, ruled by the Allahabad High Court. The taxpayer would have the remedy to file answers/objections toward the related authorities in case the show cause notice is sufficient. There would be two major needs of the principles […]
The Karnataka bench of the Authority for Advance Ruling (AAR) recently issued a significant ruling on the applicability of GST for battery charging services provided for electric vehicles. In their ruling, the bench, comprising M.P. Ravi Prasad and Kriran Reddy T., concluded that a GST rate of 18% will be applicable to battery charging services […]
