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Impact of 28% GST on Online Gaming: Government’s Decision Explained
Introduction: This article provides insights into the Indian Government’s decision to levy a 28% Goods and Services Tax (GST) on online gaming websites. It explains the motives behind the decision, it...
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No Plans to Lower Disability Percentage for GST Concessions
Introduction: This article presents the Indian Government’s response to a query regarding the issuance of GST concession certificates to disabled individuals. It provides information about the number...
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GST Rate on Millets and Health Mix Products: Government’s Response
Introduction: This article presents the Indian Government’s response to a query about the consideration of reducing the Goods and Services Tax (GST) rate on millet-based health mix products and ready-...
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GSTN and PMLA: Framework, Discussions and Impact
GSTN, established with the purpose of offering shared IT infrastructure and services, serves as a platform for the implementation of the Goods & Services Tax (GST). PMLA, on the other hand, has the ob...
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Main user allowed to grant access to IRNs generated by them to sub-user: NIC
The National Informatics Centre has introduced a significant update in user management. Sub-users now have the capability to access e-Invoices generated by the main user. They can perform essential ac...
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Decriminalisation of Compoundable Offences Under Companies Act, 2013
Introduction: Discover how the Indian Government is fostering ease of doing business by decriminalizing compoundable offences under the Companies Act, 2013. This article examines the phased approach t...
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Direct Tax Collections for F.Y. 2023-24 up to 10.08.2023: A Steady Growth Trend
Introduction: As the fiscal year 2023-24 progresses, India’s direct tax collections have displayed a remarkable pattern of steady growth. The provisional figures up to August 10, 2023, reveal a signif...
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Huge Surge in Income Tax Refund in New Era of Tax Return Processing
From the time where tax payer will forget how much refund is yet to receive and when they will receive to now, there is a remarkable change, the Indian tax scenario has undergone a significant transfo...
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BCCI’s Tax Payment History and Financial Data: Last Five Years Explained
Introduction: This article provides insights into the tax payment history and financial data of the Board of Control for Cricket in India (BCCI) over the past five years. It covers BCCI’s income, expe...
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Govt explains Changes in TCS Rates on overseas tour packages & Remittance Abroad
Introduction: This article provides insights into the adjustment of Tax Collection at Source (TCS) rates for overseas tour packages and funds remitted outside India. It outlines the recent changes in...
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Corporate Tax Collection & Revenue Impact of Reduction
Introduction: This article presents the Indian Government’s data regarding corporate tax collection over the past five years and the revenue impact caused by the reduction of corporate tax rates. Addi...
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Income Disclosure Schemes: Past, Revenue and Future Plans
Introduction: Discover the history and impact of Income Disclosure Schemes (IDS) implemented by the Government of India. This article explores the Income Declaration Scheme, 2016 (IDS, 2016), the Taxa...
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CBDT extends applicability of Safe Harbour rules to AY 2023-24
Central Board of Direct Taxes (CBDT) has introduced a significant amendment through Notification No. 58/2023, impacting the Income-tax Rules. This move extends the applicability of Safe Harbour rules...
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Guidelines for Compulsory Income Tax Scrutiny – FY 2023-24- clarification
Central Board of Direct Taxes has issued guidelines for the compulsory selection of returns for Complete Scrutiny during the Financial Year 2023-24. These guidelines aim to clarify the procedure for c...
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Income Tax Department Young Professional Scheme
The Income Tax Department, under the Government of India’s Ministry of Finance, introduces the Young Professional Scheme. The scheme aims to enhance departmental representation in the Income Tax Appel...
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14-Sector PLI Schemes: Boosting Indian Manufacturing & Exports
In the pursuit of achieving ‘Atmanirbhar Bharat’ or a self-reliant India, the Ministry of Commerce and Industry has rolled out Production Linked Incentive (PLI) Schemes. These are targeted at 14 key s...
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Jan Vishwas Bill 2023: Decriminalizing 183 Provisions in India
The Jan Vishwas (Amendment of Provisions) Bill, 2023, passed in both Lok Sabha and Rajya Sabha, serves as a landmark move towards the Ease of Living and Ease of Doing Business. The Bill introduces ame...
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Government Launches Vivad se Vishwas – II Scheme for Contractual Disputes
The Government of India has introduced the “Vivad se Vishwas II – (Contractual Disputes)” scheme to effectively resolve pending contractual disputes involving government and government undertakings. T...
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Sahara-SEBI Fund to Repay Investors: A Detailed Review
In a significant development, Sahara Group’s cooperative societies have informed the Central Registrar of Cooperative Societies about the withdrawal from the Sahara-SEBI fund to repay the group’s inve...
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Guide to E-Invoice Services Offered by New IRPs Under GST
Introduction: The Indian Goods and Services Tax (GST) system has introduced e-Invoicing, a significant step towards enhancing ease of doing business. This article provides an overview of the services...