Tax department launches web portal for exchange of information
Information is reported annually by financial institutions which are then exchanged by India under the standard. The web portal will be a repository of policy and technical circulars, guidance and notifications issued by the CBDT, and provide links to relevant circulars and guidance issued by the regulatory authorities and other international bodies.
CBDT notifies TDS certificate to be issued by individuals deducting tax on payments to contractors
According to the CBDT notification, an ind...
How will an NRI debt mutual fund investor be taxed?
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GST calls from small town tax officers spook financial services companies
Companies have been under scrutiny from indirect tax offices as far apart as Kolhapur, Rajahmundry, Vijaywada, Mysore and Mangalore. Now, several financial services companies have started receiving written enquiries from tax officers based in small towns seeking details around organisational structures, revenues and Goods and Services Tax (GST) paid.
Poor tax mop-up has states going slow on capex in H1: Report
It can be noted that five Opposition-ruled states led by Bengal and Kerala had on Wednesday threatened to sue the Centre for not transferring their GST share since August. Also, barring for April, GST mop-up has never touched the Rs 1 lakh monthly target this fiscal, averaging below Rs 95,000 crore.
NK Singh calls for further simplification of the GST structure
The veteran policy advisor said that though GST was introduced in a record time, the next level would be to simplify the structure and minimise the cost compliance.
Govt eases input tax refunds for exporters
Delay in the issuance of refunds has been a sore point for exporters since the switchover to goods and services tax (GST) regime in July 2017. The new directive from the Central Board of Indirect Taxes and Customs (CBIC) follows assurance from finance minister Nirmala Sitharaman to the industry on easing of compliances.
Do I need to make changes to my mutual fund portfolio?
Stocks to watch: In times of tax gain, these 72 firms grew Q2 PAT on top line expansion
This was one of the better earnings seasons anytime in last 3-4 years, says Vivek Mavani.
When will I be able to make Rs 3 crore with these mutual fund SIPs?
Four arrested for Rs 400 cr GST fraud, ED might join probe
The CGST department has arrested four persons for allegedly making false input tax credit (ITC) claims causing loss to the exchequer to the tune of at least Rs 400 crore.
DoT to take up Rs 36,000 crore ITC refund with finance ministry
As proposed by Committee of Secretaries, GST Council to take final call. Input tax credit worth some Rs 18,000 crore for Reliance Jio, about Rs 10,000 crore for Bharti Airtel and roughly Rs 8,000 crore for Vodafone Idea are currently stuck with the finance ministry.
Six Tata trusts to challenge tax department order in tribunal
Six Tata trusts had their registrations cancelled & will now challenge the order before ITAT.
Hardcastle wants higher GST & input tax credit
The move could have a huge implication for the country’s restaurant sector Restaurants across India, such as McDonald’s and Pizza Hut, are currently levied 5% GST and they cannot claim ITC on the tax paid on expenses, including raw materials and rent.
NPS partial withdrawal rules and how it is taxed
NPS offers two types of accounts for an individual - Tier-I and Tier -II. It is mandatory to open a Tier-1 account to invest in NPS. However, there are certain conditions that must be met to make partial withdrawals from a Tier-1 account.
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