According to media reports and sources, the apex indirect tax body, Goods and Services Tax (GST) Council is likely to meet in the second week of June to assess the impact of the COVID-19 pandemic...
The Central Board of Direct Taxes (CBDT) on Thursday notified Income Tax (11th Amendment) Rules, 2020. The CBDT empowered under Section 285BB read with amended the Income Tax Rules, 1962.Section 295 of the Income Tax...
The High Court of Punjab and Haryana directed that the attachment would be limited to the amounts which were lying to the credit of the petitioner in Cash Credit Account, at the time of freezing...
The Centre on Tuesday raised the excise duty on petrol by Rs. 10 and on diesel by Rs. 13 per litre to recoup some of the loss of revenue suffered by the government due to...
The Calcutta High Court has stayed Bank account attachment subject to Rs. 5 Lakh setting apart for Taxes amid Coronavirus. The petitioners are retired, they are facing undue hardship by reason of the notice of...
The High court of Gujarat granted anticipatory bail to a person accused of wrongful availment of Input Tax Credit (ITC) under Goods and Service Tax (GST). The applicant, ManmohanLalmanAgarwalapproached the High Court for an anticipatory bail...
The Income Tax Appellate Tribunal (ITAT), Ahmedabad held that expenses on account of interest payment on loans could not be added while computing book profit. On verification of the balance sheet, it was found that...
The Delhi High Court held that the changeability of the activity on facilitating land and other related activities to attract service tax under the head ‘Real Estate Agent’. The respondent is engaged in the business...
Russia has proposed a Value-Added Tax (VAT) reduction from 20% to 15%. VAT increase in 2019 was accompanied with a mission to spend the additional forecasted revenue for national capital infrastructure. However, the expected revenue...
The IndusInd Bank has invited applications from qualified Chartered Accountants for the post of Business Support Manager to fill the vacancy. IndusInd Bank Ltd. is a Customer-focused, technology-based, ISO 9001:2000 certified new generation private sector...
Shri Injeti Srinivas, Secretary, Ministry of Corporate Affairs(MCA), today inaugurated the ‘SPICe+’ Web Form here in Delhi. As part of the Government of India’s Ease of Doing Business (EODB) initiatives, the Ministry of Corporate Affairs...
The Gujarat High Court has held that the interest paid in respect of borrowings for the acquisition of capital assets is an allowable deduction under S.36(1)(iii) of the Income Tax Act. The assessee-company is engaged...
The Central Board of Direct Taxes (CBDT), in order to appreciate and encourage the outstanding work of the Income Tax Officers or officials in e-assessment, Central Board of Direct Taxes (CBDT) will felicitate the Income...
The Customs Excise and Service Tax Appellate Tribunal ( CESTAT ), Chennai observed that the brand Nimbooz is not lemonade and allowed excise duty exemption. The appellant is engaged in the manufacture of aerated water...
In a mission to discourage people from destroying the animal habitat, Germany has proposed the imposition of tax on meat, egg, and dairy. As per the proposal, the meat will be taxed at 40 cents...
The Maharashtra Authority of Advance Ruling (AAR) on an application filed by the applicant held that Goods and Service Tax (GST) paid by any co-operative housing society on the maintenance charges, which is paid by...
The Supreme Court of India has held that when the liability to pay an erroneously withheld sum is acknowledged and accepted by the Revenue Department, then to deny relief by directing payment in terms of...
The Finance Minister of Kerala, TM Thomas Isaac has proposed the budget for the year 2020-21. The significant announcement made by the Kerala government was that it raised the tax rates of motor vehicles and...
The Ministry of Finance has notified the GST Database as Protected System under the Information Technology Act, 2000. On February 4, 2020, the Department of Revenue under the Ministry of Finance through a notification in...
The Mumbai Bench of the Customs, Excise and Service Tax Appellate Tribunal (CESTAT) in the case of Commissioner of Central Excise v Vijai Marine Services held that ‘casino vessels’ could not be classified as ‘pleasure...
In a Union Budget 2020 presented today, the Central Government has removed the Dividend Distribution Tax. Currently, companies are required to pay Dividend Distribution Tax (DDT) on the dividend paid to its shareholders at the...
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