Taxpayers who do not file their GST returns by the designated due date incur penalties in the form of late fees and interest charges. The GST system imposes these penalties to promote punctual filing and

The Goods and Services Tax ( GST ) Council is meeting again on June 22nd, 2024, after a long gap of eight and a half months. This meeting is expected to address key issues related

In a potential game-changing move for India's current GST regime, the government is reportedly considering a shift to a three-slab structure in the upcoming fiscal year. Sources familiar with the matter suggest that rate rationalization

Certainly, the question arises: Does time truly hold significance in budget speeches? Opinions on this matter may vary; some argue in favour, while others may oppose the idea. From a general standpoint, there is an

Finance Minister Nirmala Sitharaman is expected to present the interim Union Budget 2024 on February 1, given the imminent Lok Sabha elections. This interim budget will precede the complete FY25 Budget, which will be presented

Union Finance Minister Nirmala Sitharaman confirmed that her upcoming budget announcement on February 1, 2024, will not feature any groundbreaking measures, as it is intended to serve as a vote on account ahead of the

Base erosion and profit shifting (BEPS) refers to corporate tax planning strategies used by multinationals to "shift" profits from higher-tax jurisdictions to lower-tax jurisdictions or no-tax locations where there is little or no economic activity, thus "eroding" the "tax-base" of

Section 269ST was introduced in the Income Tax Act, 1961 by the budget 2017. Under this section, no person can receive payment above ₹2 Lakhs in a single day. The main aim of this section

The Union Budget of 2023 to be presented soon by the Finance Minister Nirmala Seetharaman aims to clarify many tax facets. As is public knowledge, taxes generate between 70 and 80 percent of all revenue.

The Ministry of Finance has notified that the persons who were or currently paying income tax shall not be eligible to join the Atal Pension Yojana launched by the central government to provide financial aid

The Kerala Government has announced that the flood cess would be applicable till 31st July 2021. In a press release issued today by the Government has directed the businesses to make necessary changes in their

Officer has in his possession books of accounts or other documents or evidence which reveals that the income chargeable to tax, represented in the form of asset Introduction:- The Hon’ble Union Finance Minister Nirmala Sitharaman

Introduction:- Authority and power to conduct search and seizure operations is strident and caustic power authorized by law to be taken recourse to when the conditions mentioned under different clauses of Section 132 (1) of

Introduction:- The Hon’ble Union Finance Minister Nirmala Sitharaman has presented the Union Budget 2021 of India on the 1st of February, 2021. Budget 2021 is aimed at reviving an economy that plunged into deepest recorded

Introduction: The application of assets seized during the course of search and seizure action is governed by the provisions of Section 132B of the Income Tax Act’1961. Before digging deeper into the matter, let us