[ad_1] India has raised basic import duty on gold to 12.5 per cent from 7.5 per cent, according to a government notice dated June 30. This step has been taken to reduce influx of gold into the world’s second-largest consumer of the precious metal, after India’s ballooning trade deficit pushed the Rupee to a record …
Medical experts feel the decision to impose 5% Goods and Services Tax (GST) without input credit on hospital rooms above ₹5,000 will affect the middle-income groups as quality hospital care will become dearer. Dr Shravan Subramanyam, president of NATHEALTH, a healthcare federation in India, said the additional 5% on the rates will be a burden …
Healthcare experts feel GST on hospital beds will burden middle class patients Read More »
New Delhi: The Central Board of Direct Taxes (CBDT), which is the apex decision making body on direct taxes, had in the past extended the deadline for linking Permanent Account Number (PAN) with Aadhaar. However, there’s a good and a bad news related to the linking of PAN card with Aadhaar card. As per a …
New PAN-Aadhaar linking rule from today: Check PAN-AadhAar link tool here Read More »
[ad_1] By Neha Malhotra The Finance Act 2022 rolled out two TDS amendments, pertaining to Benefit/ Perquisites and Virtual Digital Assets (VDAs) by introducing section 194R and 194S in the Income-tax Act, 1961 (‘the Act’),effective from July 1, 2022. Section 194R casts an obligation to deduct tax at source @10% on any person providing any …
Tax Talk: Know TDS changes on virtual digital assets Read More »
[ad_1] Industry body Nasscom on Thursday said the decision of the GST Council to waive mandatory registration requirement for online sellers as part of the composition scheme will help small sellers to have a level playing field. The composition taxpayers, making interstate supplies through e-commerce operators, will yield additional avenues for growth to small sellers. …
GST Council’s decisions will help small e-commerce sellers: Nasscom Read More »
[ad_1] The Goods and Services Tax (GST) Council meeting this week did not extend the revenue compensation period for states beyond five years, overriding a demand by several states. The rationale behind the compensation was to offset the cost of transitioning to a new tax system. When tax rates were harmonised across the country, some …
If GST compensation has to continue, change the design Read More »
[ad_1] Edible oil industry body SEA on Thursday welcomed the GST Council’s decision to impose 5 per cent Goods and Services Tax (GST) on deoiled rice bran, saying this will discourage the use of the produce for feed purpose. At present, about 5 per cent GST is applicable on rice bran (before oil extraction) and …
SEA welcomes GST Council’s decision to impose 5 pc GST on deoiled rice bran Read More »
As the country marks the fifth anniversary of Goods and Services Tax (GST), the All India Association of Superintendents of Central Tax (AIASCT) has given a call for all superintendents to keep away from the celebrations citing “injustice” meted out to them. The Superintendents are the main field officers in the central tax system. The …
Superintendents won’t be part of GST day celebrations, demand improvements first Read More »
Amid the rupee declining against the US dollar, Finance Minister Nirmala Sitharaman on Thursday said the Indian currency is relatively better placed than other global currencies against the greenback. Emerging market currencies have been falling against dollar amid geopolitical tensions in the wake of the Russia-Ukraine war, concerns over growth, high global crude prices, sustained …
By Nitesh Buddhadev Finance Act 2022 inserted a new section 194R in the Income-tax Act, 1961 with effect from 1st July 2022. The new section mandates a person providing any benefit or perquisite to another person for their business/profession, to deduct tax at source @ 10% of the aggregate of value of such benefit or …
TDS on social media influencers under Section 194R: Explained Read More »
