Budget 2025 has been presented by Hon’ble Finance Minister Mrs. Nirmala Sitaraman today i.e. on 01.02.2025. This was her consequent Eight budget presented in NDA government. In the budget various announcement have been made. The most significant announcement in this budget which grab the attention of maximum taxpayer was increasing the tax rebate from existing …
Hi Everyone, We are excited to share that News18 has featured our Director, Mr Anuj Garg views on Budget 2025 in the article titled Budget 2025 Expectations. Article published in new18 given hereunder along with link to access the same on news18 website. We would love for you to take a moment to read it. …
Budget 2024 has been presented by Hon’ble Finance Minister Mrs. Nirmala Sitaraman. This was her consequent seventh budget presented in NDA government. In the budget various announcement have been made. Focal Point of the Budget was 4 major castes, namely ‘Garib’ (Poor), ‘Mahilayen’ (Women), ‘Yuva’ (Youth) and ‘Annadata’ (Farmer). Many schemes and programmes have been …
53rd GST Council Meeting was held on 22nd June 2024. GST Council has given various recommendation relating to changes in GST tax rates, measures for facilitation of trade and measures for streamlining compliances in GST. The most important recommendation, Inter alia, is waiver of interest and penalty on demand raised under section 73 of CGST …
As per Section 95(1) “Advance Ruling” means a decision provided by the authority or the appellate authority to an applicant on the matters or on the question specified in sub-section (2) of section 97 or sub-section (1) of section 100 of the CGST Act, 2017, in relation to the supply of goods or services or …
Any person who is making supply of goods through electronic commerce operators (ECOs) was mandatorily required to obtain GST registration. However Government vide notification specified the Persons making supplies of goods through an electronic commerce operator who is required to collect tax at source under section 52 of the CGST Act and having an aggregate …
GST registration is not required for small dealers to supply goods through ECOs Read More »
The CBIC has recently issued 8 circulars in accordance with the recommendations of GST council. Such circulars have been issued to address some of the ongoing issues in GST law (such as interest on wrong availment of ITC, Cross charge between HO and BO, ITC mismatch etc.). These circulars have been summarized for better and …
In the Budget this year, certain changes were announced to the system of Tax Collection at Source (TCS) on payments under the Liberalised Remittance Scheme (LRS) and on overseas tour program packages. These were to take effect from 1st July 2023. It was also announced in March that credit card payments would be brought under the …
TCS rate hikes on foreign remittance deferred to 1 Oct 2023. Read More »
CBDT vide circular no. 6 of 2023 has provided various relief to charitable trust. Certain due dates has been extended, and various other relief has been provided where trusts were facing genuine hardship. The circular also clarified the various issues regarding the pending and / or rejected application for registration of trust. Brief of the …
A significant announcement has been made by Reserve Bank of India (RBI) that circulation of 2000 rupee note shall be discontinued. Banks will no longer issue 2000 rupee notes. Although 2000 rupee note shall continue to be legal tender, its circulation has been discontinued. It is important to understand that it is not demonetization of …
FAQs on Rs. 2000 Note Withdrawal from Circulation Read More »