Remission of Duties & Taxes on Export Products Scheme (RoDTEP) Introduction: On 14 September 2019, the Government of India (GOI) announced the Remission of Duties and Taxes on Exported Goods (RoDTEP) scheme to replace the existing Merchandise Exports from India Scheme (MEIS) and establish a completely automated GST Input Tax Credit (ITC) path to nicely …
Whirlpool convicted in accordance with Rs. 4,07,451/- of profiteering by the National Anti Profiteering Authority on its fridges NAA discovered the long-term consumer corporation Whirlpool of India convicted of not having to pass on a GST rate reduction advantage of more than Rs 4.07 lakh to its refrigerator purchasers. Kerala State Screening Committee Anti-Profiteering (NAA) vs. …
www.carajput.com; MSME Big Moves for MSME sector announcement FM Nirmala Sitharaman Announcements Collateral Free Instant Loan for MSME. No guarantee is required. It’s been 4 years. No key repayment for 1 year. Strong MSME: Subordinated Debt 20,000 Crore For Stressed MSMEs Rs. 20000 Crores subordinate debts (all NPAs or stressed MSMEs will be eligible) MSME …
Direct Tax Updates: CBDT has tightened framework for compounding of offences almost shutting the window for money laundering, non-disclosure of foreign assets or possession of a benami asset. The latest guidelines which come into effect from June 17, clearly state offences in this category cannot normally be compounded. However, finance minister can relax restrictions on …
Direct Tax Updates: Income-tax authorities do not want to let go the revenue dues owed by shell companies that have been deregistered by the MCA. CBDT to file the restoration application with the National Company Law Tribunal (NCLT). MCA will support their stand. Indirect Tax Updates: Gujrat High Court in the matter of Neuvera Wellness …
Indirect Tax Updates: CBIC has come out with another set of frequently asked questions (FAQs) to clear the air on GST on real estate If you’ve got an occupancy certificate (OC) for your house before April 1 this year, the payment of pending dues would draw 12% GST rate and the builder will be able …
Indirect Tax Updates: CBIC comes out with another set of Frequently Asked Questions (FAQs) to clear the air on GST on Real Estate. If you’ve got an Occupancy Certificate (OC) for your house before April 1 this year, the payment of Pending Dues would draw 12% GST rate and the builder will be able to …
Indirect Tax Updates: The Goods and Services Tax (GST) Council has added flexibility into the way a company can utilize the available input tax credit. Any company would now be eligible to use credit available against paid integrated GST (IGST) to set off tax liabilities of state GST (SGST) and central GST (CGST) in any …
Direct Tax Updates: ITAT Pune in the matter of Ayushi Patni Vs DCIT Has decided that Date of possession of flat is date of actual purchase for claiming exemption u/s 54F of the Income Tax Act. CBDT released data that after clocking steep growth of 25% in the three years to FY18, the number of …
CBIC has issued 41 Clarifications on FAQs/ Issues relating to new GST rate structure notified for Real Estate sector applicable from 1 April 2019. Goods and Services Tax regime in India is not likely to reduce the deficits of state governments significantly, amid large and growing expenditure mandates for the social sector as well …