Purchase without bill may be big GST leakage source
B2C sales have been the key source of leakage of GST as consumers are often cajoled into paying in cash without taking a bill. The issue was discussed in detail at the first national GST conference, which was attended by senior officers from across the country, with officials suggesting that a check on this channel of leakage could bolster revenue by 15-20%.
Top-tier tax cuts not a priority: Boris Johnson
British Prime Minister Boris Johnson used the launch of his Conservative Party platform to cl...
GST collection crosses Rs 1 lakh crore mark in November
Helped by government stimulus measures, the Goods and Services Tax (GST) collection i...
Government plans to invest $1.39 trillion in infrastructure to spur economy
India's economic growth slowed to 4.5% in the July-September quarter - its weakest pace since 2013.
How to calculate tax liability on LTCG accrued from selling gold?
An individual is required to pay tax either short term capital gains or long term capital gains accrued due to selling of financial assets such as mutual funds and physical assets such as gold. If you have sold gold, you are liable to pay tax.
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.
These 6 companies with falling deferred tax liability can be good stock investments
Declining deferred tax liability have a positive effect on share prices or returns and vice-versa. The reason is increased DTLs lead to a surge in future cash obligations, which limit the amount available for distribution to the shareholders.
Trust registration: Tatas move ITAT against cancellation date
The Income Tax Appellate Tribunal had cancelled 6 Tata Trusts' registrations from October 31, 2019. If a charitable organisation’s registration is cancelled after June 1, 2016, it will have to pay exit tax. The Trusts’ argued that they surrendered their registrations on February 26, 2015, and that should be considered as the cancellation date.
CAIT seeks probe into alleged avoidance of tax liability by Amazon, Flipkart
The Confederation of All India Traders (CAIT) wrote to the finance minister alleging that e-commerce companies, including Amazon and Flipkart, were selling various products on their platforms at a price much lower than fair market value. It also said that their act is in utter disregard of the provisions of FDI policy and causing tax loss.
How will an NRI debt mutual fund investor be taxed?
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Lotus Panache and Boulevard home buyers vote against IRP; interim administrator named
Homebuyers were upset with the way IRP Soni and AR Agarwal had been trying to revive the two projects.
BHEL, GAIL, Hind Zinc & NALCO likely to be on selloff list: CLSA
Brokerage says divestment target may grow, especially if govt goes for more tax cuts.
UK's Labour vows action on 'tax and wage cheat' multinationals
Labour unveiled a plan to spend almost 83 billion pounds ($106 billion) on a programme of widespread nationalisation and free public services with the revenue coming from taxes on high earners and corporations. Labour said its "Fair Tax Programme" would ensure the City of London financial district, big businesses and those who dodged tax paid their share.
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.
Kamal Haasan reiterates intention to join hands with Rajinikanth "only if required"
"That is our attitude, we mean it.. we have come here not just to do politics but to make a better Tamil Nadu," the actor-politician added. "Carefully look at what we had said.. (they had said they would join hands)if required only.. we will, if required, and that too for Tamil Nadu's sake," he said.
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