- 25 Apr 2023 05:49 PM
- New
Bajaj Allianz, ICICI Prudential face IT probe for evading taxes since 2017
The Income Tax officials have estimated that the insurance companies under probe owe about ₹5,000 crore in unpaid taxes, interest and penalties since July 2017, when the government implemented the GST, the report said.
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- 22 Apr 2023 05:27 PM
- New
No GST on transfer of Jaipur international airport business to Adani Group
The AAI had approached the Rajasthan bench of the Authority for Advance Ruling (AAR) seeking a ruling on whether the transfer of the business to Adani Group.
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- 21 Apr 2023 10:36 AM
- New
India well-prepared to meet peak power demand: Singh
New Delhi: Union minister for power and new and renewable energy Raj Kumar Singh expressed confidence that the country is well-prepared to meet demand this summer even as power demand soared to near record levels. In an interview, Singh highlighted the government’s efforts to ensure adequate availability of coal at thermal power plants, with domestic coal stock standing at 31.71 million tonnes as of Wednesday. Edited excerpts:
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- 15 Apr 2023 06:14 PM
Residential vs Commercial: Tips to optimize your property taxes in FY24
The Income Tax Act of 1961 governs property tax as well as other indirect taxes like GST and stamp duty. In the income tax return, all sorts of properties are taxed under the head "income from house property." Residential and commercial properties are taxed differently in India; for example, residential property taxes are frequently based on the assessed value of the property, whereas commercial property taxes are frequently based on both the assessed value of the property and the income earned by the business. In FY24, here’s how individuals can optimize their residential and commercial taxation.
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- 15 Apr 2023 06:19 PM
Model All India GST Audit Manual 2023
Source: https://taxguru.in/goods-and-service-tax/model-india-gst-audit-manual-2023.html
Goods and Services Tax in India has stepped towards the completion of five years. One of the main objectives of introduction of GST was to create one common market in the country by totally removing the wide disparities and compliance complexities of various laws of taxation of the States and Centre. In taxation of goods and services (not as “activities”, per se, but as “objects” or “events”), that had led to not only tax inefficiency but had also interfered in investment decisions of businesses. GST has provided a uniform structure in taxation of goods and services throughout the country. There is total uniformity in terms of the taxable event, tax rates, point of levy, provisions for registration, return filing, tax payment, refunds, audit, adjudication, appeals etc. In fact, the CGST and SGST laws are almost mirror images. GSTN, as an enabling organisation, has created the necessary digital backbone to ensure seamless uniformity in the process and procedures relating to registration of taxpayers, return filing, tax payment, refunds etc.
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- 13 Apr 2023 06:09 PM
Be ready to pay more GST while booking autos! Delhi HC upholds Centre's notification
Uber India Systems Private Limited argued in its submissions that the imposition of GST on autorickshaw rides booked through their platform could lead to financial implications
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- 11 Apr 2023 07:16 PM
Covovax to be added to CoWIN portal as heterologous booster. Prices and other details here
Covovax is expected to be available on the CoWIN portal in the coming days at a price of ₹225 per dose plus applicable GST.
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- 11 Apr 2023 07:20 PM
Sugar prices to surge as supplies dwindle
Mill prices of sugar, which have been rising for the past three weeks, are expected to hit new highs in the next few months due to the limited availability of the sweetener in the domestic market.
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- 11 Apr 2023 07:23 PM
Covid jab Covovax to be available on CoWIN soon; to cost ₹225 per dose
According to official sources, Union Health Minister Mansukh Mandaviya has reportedly approved the inclusion of Serum Institute's Covovax on the CoWIN portal as a heterologous booster dose for adults, in light of the increasing cases of COVID-19 in various parts of the country, PTI reported.
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- 11 Apr 2023 07:26 PM
DGGI takes action against Mauritius-based entities for online gambling, betting
The companies based in Cyprus, Mauritius, and Cayman Islands, which are not registered in India, are suspected of assisting numerous high-net-worth individuals.
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