Taxation

The Goods and Services Tax (GST) council, at its 32nd meeting held last week, announced several changes including the fact that the new limit for registration under GST would be Rs40 lakh. This has been hailed as a major decision to help small taxpayers go out of the tax net and, hence, the...
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In a major relief for MSMEs, the GST Council on Thursday doubled the exemption threshold for small businesses from Rs 20 lakh to Rs 40 lakh and also allowed Kerala to impose a natural disaster cess of upto 1 per cent for a period of upto two years.   Till now, businesses with turnover...
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Citing procedural difficulties due to absence of clarity, the All India Tax Advocates Forum (AITAF) on Thursday urged the Finance Minister to allow assessees to rectify mistakes incurred in their monthly GST returns in the Annual Return form GSTR 9 for the financial year 2017-...
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The Delhi High Court has asked Baba Ramdev's Patanjali Ayurveda Ltd to cooperate with the income-tax (I-T) department for its special audit, says a report.   According to the report from LiveLaw.in, a bench comprising Justice S Ravindra Bhat and Justice Prateek Jalan opined that 'far...
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Infosys Foundation, Skoda Auto India, University of Rajasthan and Madras Christian College are among 1,775 entities issued show-cause notice under the Foreign Contribution (Regulation) Act for their failure to submit annual income and expenditure statements on foreign fundings, officials said...
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