Thursday, December 8, 2022
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Assocham

ASSOCHAM – 17th International Tax Conference – Emerging World Tax Order

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We want businesses to flourish, our emphasis now is on honouring the honest with a transparent system of tax assessment: S K Gupta, CBDT New Delhi, 6th September’2020: In a bid to foster a wider perspective on the...
GST Return by SMS in India

Government rolls out facility of filing of NIL GST Return through SMS

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Government rolls out facility of filing of NIL GST Return through SMS By PIB Delhi In a significant move towards  taxpayer facilitation, the Government has today onwards allowed filing of NIL GST monthly return in FORM...
Income Tax - India

Growth Trajectory of Direct Tax Collection & Recent Direct Tax Reforms

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There are reports in a certain section of media that the growth of direct taxes collection for the FY 2019-20 has fallen drastically and buoyancy of the direct tax collection as compared to the...
Income Tax - India

E-filing of Income Tax in India

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E-filing of Income Tax By PIB Delhi There is a marked increase in the number of income tax filed through e-filing. The number of e-Returns submitted for Assessment Year 2018-19 is 6,49,39,586 as against 5,47,30,304 e-Returns...
GST - India

GST rate on Services in India – Decisions relating to exemptions/changes in GST rates /...

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GST rate on Services  The GST Council in its 28th meeting held here today under the Chairmanship of Shri Piyush Goyal , Union Minister for Railways , Coal , Finance & Corporate Affairs took following decisions...
The Union Minister for Railways, Coal, Finance and Corporate Affairs, Shri Piyush Goyal chairing the 28th GST Council meeting, in New Delhi on July 21, 2018. The Minister of State for Finance, Shri Shiv Pratap Shukla and the Finance Secretary, Dr. Hasmukh Adhia are also seen.

Recommendations made during the 28th meeting of the GST Council held in New Delhi...

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Recommendations made during the 28th meeting of the GST Council held in New Delhi on 21st 2018  Amendments to the CGST Act, 2017, IGST Act, 2017, UTGST Act2017, and GST (Compensation to States) Act, 2017 The GST...
GST - India

GST leads to Formalization of Economy and Widening of Tax Base

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GST leads to Formalization of Economy and Widening of Tax Base  Historic tax reform, the Goods and Service Tax (GST), has resulted in the formalization of the economy and consequently, information flow would eventually augment...
GST - India

GST Export Refunds – So far more than Rs 10, 000 Crore has already been...

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GST Export Refunds  It has been noticed that at regular intervals, unverified estimates of pending GST refunds on account of exports are published in the print media or put forward by various trade bodies. These...
GST - India

One crore taxpayers have been registered under GST so far till 24th January 2018

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Total Revenue Collections under GST for the month of December 2017 stand at Rs. 86,703 crore till 24th January 2018; One crore taxpayers have been registered under GST so far till 24th January, 2018 of which 17.11...
GST - India

Total collection under GST for the month of December 2017 has been Rs. 80,808...

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Total collection under GST for the month of December 2017 has been Rs. 80,808 crores till 25th December 2017  Total Revenue Collection under GST:  The total collection under GST for the month of December 2017...
GST - India

GST revenue gap may widen to Rs 85,000 crore for FY18: Amit Mitra

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GST revenue gap may widen to Rs 85,000 crore for FY18: Amit Mitra Expressing concern over declining goods and services tax (GST) revenue, West Bengal’s finance minister Amit Mitra on Thursday said that states are...
BRICS Young Scientists Conclave

Cabinet approves MOC in respect of tax matters between India and BRICS countries –...

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Cabinet approves MOC in respect of tax matters between India and BRICS countries - Brazil, Russia, China and South Africa The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has given the approval...
Gold

GST on Sale of old jewellery by an individual to a jeweller will not...

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Further clarification on tax in reverse charge on gold ornaments;  Sale of old jewellery by an individual to a jeweller will not make the jeweller liable to pay tax under reverse charge mechanism on such...
Kashmir - India

The State of Jammu and Kashmir joins GST today making the GST truly a...

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The State of Jammu and Kashmir joins GST today making the GST truly a “ one nation, one tax” regime. The President of India has promulgated today two ordinances, namely, the Central Goods and Services...
GST - India

Dr. Hasmukh Adhia busts seven misconceptions about newly implemented law relating to Goods and...

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The Revenue Secretary, Government of India, Dr. Hasmukh Adhia busts seven misconceptions about newly implemented law relating to Goods and Services Tax (GST). The Revenue Secretary, Government of India, Dr. Hasmukh Adhia through a series...
GST - India

India are you ready for GST? – GSTN holds a Review Meeting with GST...

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GSTN holds a Review Meeting with GST Suvidha Providers (GSPs) to Assess Readiness for GST roll-out from 01st July, 2017; GSPs advised to continue to visit the GSP ecosystem webpage on the GSTN website(www.gstn.org/ecosystem) for...
The Counting - Last Penny Photo by Suman Munshi

India Senior Citizen Update – Tax on National Pension Scheme

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Tax on NPS The provision that the withdrawal from National Pension Scheme is taxed to the extent of 60 per cent has been introduced into the Income Tax Act, 1961 (‘Act’) vide Finance Act, 2016...
Amit Mitra

GST implementation is still an issue West Bengal Finance Minister raises questions – Major...

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Major GST issues unresolved: Amit Mitra A lot of issues related to roll out of Goods and Services Tax are yet to be resolved, feels Bengal finance minister Amit Mitra, chairman of the GST committee...
India Korea Flag

India Korea Tax Update – Double Taxation Avoidance Agreement (DTAA) between India and Republic...

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New Revised Double Taxation Avoidance Agreement (DTAA) between India and Republic of Korea comes into force with effect from 12th September, 2016; Will have effect in India in respect of income derived in fiscal...
Income Tax Act and Rules

Seminar on Furnishing Of Statement Of Financial Transaction under the Income Tax Rules &...

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    Directorate of Income tax Intelligence and Criminal Investigation, holds a Seminar  with members of the Chartered Accountants of India, Eastern India Regional Council to apprise them about the recent changes brought into the Income...