GST Council to meet Today, GoM nods for MSME Relief and Calamity Cess
The 32nd GST Council meeting will be held today in New Delhi to decide a hike in exemption limit for the Micro, Small and Medium Enterprises (MSMEs) and the natural calamity cess proposed by Kerala. The
GST Council to consider Kerala’s proposal to impose Calamity Tax
The most powerful GST Council will be considering a proposal from Kerala to levy Calamity Tax, a special tax or cess to raise additional resources aimed at meeting the cost of reconstruction in Kerala in
GST: GoM to meet on Monday to discuss Calamity Tax for Kerala
The Group of Ministers (GoM), under Bihar Deputy Chief Minister Sushil Modi, on Monday will examine the modalities for revenue mobilisation by levying additional tax under the GST in case of natural calamities as per the GST Council’s recommendation. "The GoM on levying
GST: Centre nods for Additional Cess for Kerala Flood Relief
The Goods and Services Tax ( GST ) may introduce a new cess for the flood-affected Kerala, Kerala Finance Minister Thomas Isaac tweeted. Finance Minister Arun Jaitley has proposed additional cess on select commodities under
GST Council to meet on 28th September
The next GST Council meeting will be on 28th September 2018 via video conferencing, in which the proposal to cut rates on some items could be taken up. The GST Council may cut tax rates
Cess on Kerala Rehabilitation: GST Council sets up GoM
The 30th meeting of the GST Council has decided to set up a seven- member Group of Ministers to make suggestions on the demand for 10% cess on SGST for Kerala rehabilitation, the GoM may
CBIC issues Instruction on Incidence of NCCD for Calculation of Brand Rate of Duty Drawback [Read Circular]
The Central Board of Indirect Taxes and Customs (CBIC), on Tuesday, issued an instruction on the incidence of National Calamity Contingent Duty (NCCD) for calculation of Brand Rate of duty drawback. The incidents are elaborated
Section 40(a)(ia) of Income Tax Act applies to both ‘Payable’ and ‘Paid’ Expenditures: SC [Read Judgment]
SC Overruled the decision of the Allahabad High Court in CIT v. Vector Shipping Services (P) Ltd. In Palam Gas Service v. CIT, the two-judge bench of the Supreme Cout has categorically held that the
No NCCD Leviable on Clearance of Excisable Goods to 100% EOU for captive consumption: CESTAT [Read Order]
The Chennai bench of the Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) held that the National Calamity Contingent Duty (NCCD) cannot be levied on the clearance of excisable goods to 100% Export Oriented Units (EOU)
GST Council Meet: Kerala to impose 1% Disaster Cess
The 32nd GST Council meeting held at New Delhi has allowed the Kerala Government to impose 1 percent cess on intra-State sales. The disaster cess is a special tax to raise additional resources aimed at
GST Council’s Next Meeting on January
After proposing a bundle of path-breaking changes in the last meeting, the 32nd meeting of the GST Council will be held in January 2019 before the introduction of Budget. The 31st GST Council meeting held
Relief to Nayara Energy, No Duty on Goods when there is no loss of Goods at Loading and Unloading stage: CESTAT [Read Order]
As a relief to Nayara Energy Limited, the Ahmedabad Bench of the Customs, Excise & Service Tax Appellate Tribunal (CESTAT) has held no duty on goods when there is no loss of goods at the
GST Council Meeting to be held on 10th January 2019 in New Delhi
The 32nd meeting of the Goods and Services Tax ( GST ) Council, will be held on January 10th, 2019 in New Delhi. The 31st GST Council meeting held in New Delhi had not addressed
COVID-19: Calcutta HC prevents Income Tax Authority from Distribution of Seized Jewellery [Read Order]
The Calcutta High Court has prevented the Income Tax Authority from the distribution of seized jewellery in the Corona Virus  COVID-19 outbreak. The outbreak of the deadly virus COVID-19 led to the restricted functioning of
Income Tax Return filing Date Extended [Read Order]
The Central Board of Direct Taxes (CBDT) has extended the due date for filing income tax returns to 31st August 2018 from this July 31st. As the due date has been coming closer, the Board