GST-Increase in maximum ceiling of cess on SUVs-Luxury cars to 25% from present 15%. Decision on when to raise the actual cess to be taken in due course by GST Council
It was noted that after introduction of GST, the total tax incidence on motor vehicles [GST + Compensation Cess] has come down vis-a-vis the total tax incidence in pre-GST regime. The Schedule to the Goods and Service Tax (GST) (Compensation to State) Act 2017, specifies the maximum rate at which Goods and Service Tax Compensation Cess may be collected. In respect of motor vehicles, the maximum rate at which Goods and Service Tax Compensation Cess may be collected is 15%.
When quantum appeal stands restored to the AO, penalty can not be levied u/s 221(1) of the Income Tax Act…
Even if, the assessee is engaged in the bogus purchases, the entire purchases cannot be disallowed - ITAT In a…
Order to stock broker through WhatsApp may be considered as legally verifiable record - SEBI SEBI in an informal guidance…
ICAI Guidance Note on Audit of Banks 2026 Edition ICAI has issued 2025 edition of the Guidance Note on Audit…
NHIDCL is hiring CA/CMA and others as Young Professionals – Last date to apply is 14.04.2026 The National Highways and…
Income Tax Rules 2026 notified by CBDT. CBDT has issued Notification No. 22/2026 dated 20.03.2026 to notify the Income-tax Rules,…