By: AdminMay 27, 2024Categories: Law News4 Min Read The Hon’ble Delhi High Court issued Circular vide No. 116IRules/DHC dated May 20, 2024 suppresses the earlier "Guidelines for recording of evidence…
Toyota pushes for lower GST on hybrid cars
By: AdminMay 27, 2024Categories: GST Recent News4 Min Read Toyota Kirloskar Motor (TKM) is lobbying for a merit-based taxation on technologies such as hybrids. Hybrids are said to have “the…
Interest and penalty not leviable when there is no fault of Assessee in depositing GST
By: AdminMay 27, 2024Categories: Important Pronouncements4 Min Read The Hon’ble Allahabad High Court in the case of Bhole Baba Milk Food Industries Limited v. Union of India [Writ Tax No.…
Paper Cups would fall under HSN 4823 40 00 and attract GST at the rate of 18 percent
By: AdminMay 27, 2024Categories: Advance Ruling-New4 Min Read The AAR, West Bengal in the case of In Re. Sekandar Sarkar [Case No. WBAAR 01 OF 2024 dated April 04, 2024]…
GDP, GST data to be released next week will design economic narrative by new govt
By: AdminMay 27, 2024Categories: GST Recent News4 Min Read Ahead of announcements of election results on June 4, five key high frequency indicators will lay out the economic framework for…
Fake Notices from the Income Tax Department: How to Identify Scam Notices from Fraudsters
By: AdminMay 25, 2024Categories: Income Tax News|News4 Min Read Receiving an income tax notice can be highly stressful, but it's crucial to remain vigilant, as not all such notices are…
India should implement 2% tax on wealth and 33% inheritance tax to tackle rising inequality, says study
By: AdminMay 25, 2024Categories: TAX News4 Min Read A new research paper, suggests that India should implement a 2% tax on net wealth over Rs 10 crore and a 33%…
Smartphones now fourth largest export item from India, up 42% to $15.6 billion in FY24
By: AdminMay 25, 2024Categories: export import|News4 Min Read Smartphones have become the fourth-largest export item from India, achieving 42 percent growth to reach $15.6 billion in FY24, as per a…
Gujarat High Court Grants Bail to Metal Industries Proprietor After 79 Days in Rs. 6.67 Crore GST Evasion Case
By: AdminMay 25, 2024Categories: GST Law|News4 Min Read The Gujarat High Court has granted bail to the proprietor of Metal Industries, a business involved in manufacturing and trading brass products…
India’s GST revenue has touch a new high; can it be sustained?
By: AdminMay 25, 2024Categories: GST Recent News4 Min Read It took a little less than seven years since its introduction on July 1, 2017, for the goods and services tax…