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A software app known as an integrated development environment (IDE) offers complete features for software development. A source code editor, build automation tools, and a debugger is typically included in an IDE. The necessary compiler, interpreter, or both are included in some IDEs like NetBeans and Eclipse, but not in others like SharpDevelop and Lazarus. […]
GST council in its forthcoming meeting dated 11th July would seem to address and authorize the revisions in the mechanism to fetch the bogus ITC claims. The revisions would have the listing of the risk profiling parameters of the entities comply with the physical verification. The GST Council will need to approve any modifications to […]
In a recent ruling, the Bangalore branch of the Income Tax Appellate Tribunal (ITAT) has made it clear that marketing and advertising expenses made for the assessee, Herbalife International India Pvt. Ltd’s manufactured products do not fall under the purview of foreign transactions. Following the submission of the income tax return, the case of the […]
On the size of televisions exceeding 32 inches, Television manufacturers are pushing for a reduction in goods and services tax (GST) to 18% from 28% to reduce the surge in the cost of open cell panels – the costliest part of LED TVs – that gets imported from China. There is a rise in prices […]
On Wednesday, Sanjay Kumar Agarwal, a member of the CBIC, stated that additional efforts are required to get a solution for fake GST input tax credit (ITC) generators from the system in order to stop tax evasion and boost GST collection. He said that the government has taken a number of measures to deal with […]
On Monday, the trade body CAIT made a case for reducing the GST rate on beverages from 28% which will be 40% including the cess. They questioned that it is too high and restricts the operating capital of small retailers. The Confederation of All India Traders (CAIT) requested the union finance minister to take into […]
From the record 90.9 million the generation of electronic permits for the transportation of goods within and across states would get reduced in March to 84 million in the month of April which stands at the second highest figure to date. According to GSTN, the entity that handles Goods and Services Tax (GST) related returns, […]
A request has been presented before Union Finance Minister, Nirmala Sitharaman by the Gujarat Chamber of Commerce & Industry (GCCI) to dismiss the interest and penalty for Integrated Goods and Services Tax (IGST) levied under notification No. 54/2018 dated October 9, 2018. The GCCI stated that the representations received are from its different member units. […]
What is a Form 10? The same article would be concerned with one of the revisions made in Form No 10 by Notification No. 96/2022 on 17th August 2022 which would be subjected to be applied for all the Trust/Institution registered under subclause (iv)(v)(vi)(via) of Section 10(23C) of the Act for F.Y. 2022-23 (A.Y. 2023-24). […]
