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GST data reveals 50 percent increase in number of Indirect Taxpayers as per Economic Survey 2017-18. Bird’s-Eye View of the Indian Economy through the GST Economic Survey 2017-18 has revelaed that Maharashtra, Gujarat, Karnataka, Tamil Nadu & Telangana account for 70% of India’s exports India’s internal trade in …
Economic Survey 2017-18 draws Attention to 10 New Economic Facts on Indian Economy The Economic Survey 201-18 has been presented by the Union Finance Minister Shri Arun Jaitley in Parliament today. The Finance Minister has relied upon analysis of the new data to highlight ten new economic facts as under: Goods …
GST Compensation cess removed on used/second hand cars. Cess The Goods and Services Tax (GST) council, in its 25th meeting held on on January 18, 2018 reduced GST rates on used vehicles and compensation cess was completely removed on used/second hand cars. GOVERNMENT OF INDIA MINISTRY OF …
The High Court explains the law on levy of interest u/s 234B(3) when reassessment is done determing escaped income after issue of refund. Prelude: Section 234B(3) of the Income Tax Act, 1961 (the Act) provides for levy of interest where a reassessment or re-computation under Section 147 or …
Exempted income can not be taxed even if no revised return filed. AO in proceedings u/s 143 can not refuse to grant relief on such technical plea – High Court ABCAUS Case Law Citation: ABCAUS 2183 (2018) (01) HC Important Case Laws Cited/relied upon by the parties: Goetze …
GST Rate on supply of goods to Indian Railway when covered/not covered under Chapter-86-Clarirification As per Notification No. 1/2017-Central Tax (Rate) dated 28th June, 2017 read with Notification No. 5/2017-Central Tax (Rate) dated 28th June, 2017, goods/services classified under Chapter 86, attarct GST at the rate of 5 per …
GST Notifications for change in CGST rates and exemption to certain services as per recommendation of GST Council 25th meeting held on 18.01.2018. Notification No. & Date of Issue Notification Subject 01/2018-Central Tax ,dt. 01-01-2018 Click Here >> Central Tax seeks to further amend notification No. 8/2017 – …
Business expediency not a question of law, much less a substantial question of law-High Court. If expected fruits are not reaped from a business proposition, it is no basis to challenge the business expediency. ABCAUS Case Law Citation: ABCAUS 2182 (2018) (01) HC The Challenge/Grievance: The instant appeal …
The Ministry of Finance has issued a brochure titled as “KNOW YOUR BUDGET” on Budget Glossary containing certain frequently used economic and financial terms in the General Budget as under: BUDGET GLOSSARY Union Budget Union Budget is the most comprehensive report of the Government’s nances in which revenues from …
MCA initiatives for making the Incorporation Process Speedy On the occasion of the 69th Republic Day, the Ministry of Corporate Affairs (MCA) has launched the following Government Process Re-engineering (GPR) initiatives for making the Incorporation Process Speedy, Smooth, Simple and reducing the number of procedures involved for starting a …