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In October, the generation of E-way bills, which are electronic permits used by businesses for transporting goods within and between states, reached an all-time high of 10.3 crore, surpassing the previous record of 9.34 crore set in August. This significant increase can be attributed to heightened consumption during the festive season and improved compliance practices. […]
A recent report has brought attention to the current status of state finances, emphasizing the persistent deficit in budget revenue. The report underscores that this deficit is causing limitations in capital outlay, particularly impacting the allocation of funds for developing assets. Furthermore, the report highlights the necessity of rationalizing the goods and services tax (GST) […]
The Goods and Services Tax (GST) department is introducing a registration system on November 7th, starting from Vapi, Gujarat and a formal event will also take place. This system will be the country’s first implementation of biometric data-based registration for GST numbers. During the registration process for a new GST number, the department will now […]
A Division Bench of the Supreme Court recently rendered a significant decision on appeals arising from judgments of the Telangana, Gujarat, and Bombay High Courts. These appeals concerned the validity of the VAT Amendment Act in their respective states, particularly in the context of Section 19 of the Constitution (101st Amendment) Act of 2016. This […]
The Bengaluru Solid Waste Management Limited (BSWML), which was established by the state government to effectively manage solid waste, has been granted an exemption from paying 18% GST to the state government. This decision to exempt BSWML from GST was made during the 52nd GST council meeting held on October 7 in New Delhi, chaired […]
The Allahabad High Court has invalidated a demand of Rs. 235.52 Crores imposed on Vivo Mobile India Private Limited by GST Authorities through an order under Section 74(9) of the Goods and Service Tax Act 2017. In a ruling issued by the bench consisting of Justices Saumitra Dayal Singh and Vinod Diwakar, Vivo Mobile was […]
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 […]
