In FY24, the Centre forwent ₹99,000 crore in corporate tax revenue due to incentives. India’s external debt reached $736.3 billion, remaining sustainable at 19.1% of GDP. The PM Internship scheme saw 22,500 offers accepted, while the government issued ₹72,275 crore…
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The Central Board of Direct Taxes will intensify efforts to combat tax evasion. They plan to use data analytics and artificial intelligence. This will help identify discrepancies in income reporting. The Income Tax Department has access to vast digital transaction…
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In a significant win for regulatory bodies, the Supreme Court has upheld the Delhi High Court’s decision, exempting the fees collected by the CERC and DERC from GST. This ruling dismisses demands for an 18% tax on regulatory fees, affirming…
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The Karnataka High Court has quashed an IGST demand on Alstom Transport India, ruling that salaries paid to seconded foreign employees are not taxable manpower supply services under GST. The court emphasised the employer-employee relationship and cited a CBIC circular…
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Brought in 2023 on the recommendation of the GST Council, Rule 31B of the CGST Rules states that in the case of online gaming, the “value of supply” shall be the amount paid or deposited with the gaming service provider.…
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Indian IT giant Infosys on Wednesday increased the lower end of its annual growth forecast for the current fiscal year after reporting better-than-expected results for the June quarter. The Bengaluru-headquartered firm also reported a 8.6 on-year increase in net profit…
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