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GSTN issues Advisory to Composition Taxpayers

Taxscan Team

The Goods and Services Tax Network (GSTN) has issued an advisory to the composition taxpayers under the GST regime. Since FY 2019-20, composition...

5% GST on Marine Engines and Spare Parts: AAR [Read Order]

Direct Tax Collection: Corporate Tax collection fell below Personal Income Tax collection for the...

tax revenues - US state - Michigan - Taxscan

Michigan on the Brink of Becoming the Most Lucrative US State for Tax Revenues

CBDT amends Procedures for Filing Tax u/s 115BAB by New Manufacturing Companies [Read Notification]

Income Tax Saving Deductions and ITR Filing: Checklist for Freelance Professionals

As a freelance professional in India, filing your Income Tax Return (ITR) is slightly different from salaried individuals, but the tax rates remain the same. You will need to submit either ITR-3 or...

Deities are Assessable as per Tax Rates applicable to Individuals: ITAT [Read Order]

The Pune ITAT, in a recent ruling, held that the tax rates applicable to individuals are also applicable to deities under the income tax law. The assessee is a Trust formed in 1968 and the object of...

Applying Individual Tax Rates to AOP can’t be rectified by Invoking S. 154: ITAT [Read Order]

The Income Tax Appellate Tribunal ( ITAT ), Hyderabad bench has held that applying individual tax rates to the AOP is not a mistake apparent on the face of the record and therefore, it cannot be...

Income Assessed in Subsequent Year doesn’t cause loss to Revenue when Tax Rates are Same: ITAT [Read Order]

The Income Tax Appellate Tribunal ( ITAT ), Mumbai in Dy. Commissioner of Income Tax vs. M/s. Deloitte Touche Tohmatsu held that when the Tax Rates applicable in both the years is same there is no...

GST Council finalizes Tax Rates, Okays Nine Draft Rules [Read the Complete List]

Moving a step closer to the rolling out of the Goods and Services Tax (GST), the apex body, the GST Council today signed off on all rules relating to GST. As the Government is all set to implement...