GST collection breaches ₹2-lakh-crore mark in April on strong domestic demand

[ad_1] Boosted by a strong increase in domestic demand, collection through Goods & Services Tax (GST) touched an all-time high of ₹2.10 lakh crore in April. This is the first time that collection has crossed ₹2 lakh crore since the...

Government cuts windfall tax on crude petroleum

[ad_1] The government has cut windfall tax on domestically produced crude oil to ₹8,400 per tonne from ₹9,600 per tonne with effect from Wednesday. The tax is levied in the form of Special Additional Excise Duty (SAED). The SAED on...

ICAI suggests tax incentives to encourage skill development, green projects

[ad_1] The CA Institute has suggested to the government that tax incentives be extended to entities exclusively engaged in skill development programmes, considering their contemporary relevance and importance. In its pre-budget memorandum for the full budget slated for June 2024, the...

Canada’s Trudeau government asks rich to pay more in pitch to Gen Z

[ad_1] Budget proposes higher capital gains taxes and billions in spending on education, housing, jobs and mental health.Canada will ask the wealthy to pay higher taxes as Prime Minister Justin Trudeau’s government seeks to shore up flagging support among young...

E-WAY Bill generation reached all-time high at 10.35 crore in March, April collection likely to be benefitted

[ad_1] Fiscal year-end closing coupled with better compliance and improved consumption pushed e-WAY bill generation to an all time high of 10.35 crore in March, data collected by GST Network (GSTN) showed. This could have some impact on GST collection...

IT Department broadens avenues for filing appeal in tax cases

[ad_1] Income Tax Department can now file appeal in cases of TDS (Tax Deducted at Source) or Tax Collected at Source (TCS) without any monetary limit. A similar provision will apply in cases of bogus capital gain or loss involving...

ESPN Mauritius has no permanent establishment in India: Delhi HC

[ad_1] The Delhi High Court has ruled in favour of ESPN Mauritius and upheld the order of the Delhi Income Tax Appellate Tribunal (ITAT), which had earlier ruled that ESPN Mauritius does not have a permanent establishment (PE) in India...