Robust GST collections likely in November, uncertainty about December
There is good news for the goods and services tax (GST) collections in November, but equally bad for those in […]
GST Recent News
Notification and Circular, Notification And Circular
Removed exemption on supply of pure services and composite supply of goods & services where value of supply of goods is not more than 25% to a Governmental Authority/ Entity
Background: Earlier, CBIC had issued Notification No.12/2017- Central Tax (Rate), dated June 28, 2017 (“Services Exemption Notification”) w.r.t. the list
GST Recent News
Govt to review PLI schemes for electronics companies
The government is set to start a comprehensive review of its ambitious production-linked incentive (PLI) schemes on electronic manufacturing, officials
Notification And Circular, Notification and Circular
De-activation of IECs not updated on the DGFT after January 01, 2014 w.e.f. December 06, 2021
The DGFT issued Trade Notice 25/2021-22 dated November 19, 2021 w.r.t. all Importer-Exporter Codes (“IECs”) which have not been updated after
Important News
Income Tax website will not be accessible due to maintenance from Nov 20, 10 PM to Nov 21, 10 AM
The Income Tax Department says that the website will not be accessible due to a scheduled maintenance activity from Saturday,
GST Recent News
Centre works on tax framework to regulate cryptocurrencies
As India seeks global collaboration on regulating cryptocurrencies, with Prime Minister Narendra Modi identifying them at the Sydney Dialogue Thursday one of
GST Recent News
GST intel busts laundering racket involving UP firm
In one of the biggest cases of money laundering unearthed in recent times, the Meerut zonal unit of the Directorate
Important Pronouncements
Income Tax deduction allowed by Karnataka High Court on loss suffered by assessee on Foreign Rate Fluctuation
The Hon’ble Karnataka High Court in P.R Commissioner of Income Tax v. M/s United Spirits Ltd. [I.T.A. No. 548/2015 c/w
Important Pronouncements
HC: Sets aside clarificatory circular taking away assesse’s substantive right by denying exemption on fish meal
In Jenefa India vs. Union of India & Ors. [W.P.(MD) No.16770/2019 decided on October 5, 2021] Hon’ble Madras High Court
Notification And Circular, Notification and Circular
Clarification on certain GST refund related issues
The CBIC vide Circular No. 166/21/2021-GST dated November 17, 2021 issued clarification on certain GST refund related issues. Various representations