Exporters facing GST refund issues as govt makes invoice matching compulsory for input tax credit

GST & Other Indirect Taxes | By Editor | Jul 16, 2020

Many exporters are facing a working capital crunch as they have run into refund problems after a recent government circular said exporter...

Alcohol-based hand sanitizers attract 18% GST

GST & Other Indirect Taxes | By Editor | Jul 15, 2020

  Springfields (India) Distilleries had sought for Advance ruling on the issue as to classification of the Goods namely “Hand Saniti...

New classification for MSMEs – Credit flow to Micro, Small and Medium Enterprises Sector

    Amid the Covid-19 pandemic, the Government has been trying to protect all spheres of the Indian economy, from the daily wag...

Sum received from distributors on sale of software and maintenance & support services is not...

      [2020] 117 taxmann.com 544 (Mumbai – Trib.) IN THE ITAT MUMBAI BENCH ‘I’ Trimble Solutions Corpora...

Income Tax Return For FY 2019-20 For Non-Resident Individuals (NRIs) – An FAQ

    How to determine residential status in India? If a person satisfies any of the two conditions mentioned below then he/she i...

Maharashtra AAR ruling provides GST relief to MNCs on expats salary

Recent observation by Maharashtra Authority of Advance Rulings (AAR) resulted in the ruling that GST will not be applicable if the Indian...

U.S. firms in India not ready to pay digital tax

News & FAQs | By Editor | Jul 8, 2020

Lobby group representing U.S. technology giants has said its members are not yet ready to make the first payment of the country’s digital...

Income tax exemption for sovereign funds for investing in wider infra sector

News & FAQs | By Editor | Jul 8, 2020

The income tax (I-T) department has notified tax exemption on interest, dividend and capital gain incomes of sovereign wealth funds (SWFs...

Software services to Indian firm’s overseas client liable to GST

GST & Other Indirect Taxes | By Editor | Jul 6, 2020

Firms providing information technology software related services to overseas client of an Indian business would be liable to pay 18 per c...

India changes digital tax form to include new levy on foreign e-commerce companies

The income-tax department has introduced changes to the form used to pay equalisation levy, to include the option of paying up the new 2%...

Income tax department amends TDS rules, seeks more disclosure in form

After introducing new TDS (tax deducted at source) rates for high-value cash withdrawals from banks, the income tax department has now am...

Goods Sold during Liquidation is a Supply by Liquidator; Separate registration of Liquidator is r...

GST & Other Indirect Taxes | By Editor | Jul 1, 2020

WB AAR held that sale of Company’s asset during Liquidation is a supply of goods by a Liquidator, who is required to obtain registration ...

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