New Mechanism for GST Post-Sale Discount Evidence
CBIC circular on compliance mechanism for post-sale discounts, by obtaining CA/CMA certificates or recipient undertakings.
Author: Vinod Arora
Health and Education Cess Rates under Income Tax (AY 2024-25)
Explore about the Health and Education Cess Rates applicable under the Income Tax in respect of AY 2024-25 for all types of assessees and taxation schemes.
Income Tax Rebate u/s 87A for Individuals AY 2024-25
Discover about the Income Tax Rebate available to Resident Individuals in respect of AY 2024-25 u/s 87A of the Income Tax Act, 1961.
Alternate Minimum Tax (AMT) for Non-corporate Taxpayers (AY 2024-25)
Explore the concept of Alternate Minimum Tax (AMT) which ensures fair share of tax liability for non-corporate taxpayers availing deductions and exemptions.
Section 80D: Medical/ Health Insurance Premium (Mediclaim Deduction)
Section 80D of the Income Tax Act of 1961 provides for a deduction to Individuals and HUFs in respect of payment of medical or health insurance premium for family, …
CBIC’s Rewards Scheme for Informers: Customs/GST Evasion
Key aspects of the monetary rewards scheme for informers in customs, GST and other indirect taxes. Learn the reward eligibility, payout structure, sanctioning procedure, confidentiality safeguards.
AAR Settles 12% GST Rate for Shree Avani Pharma’s Job Work
An advance ruling clarifies that conversion services on registered entities' inputs would be treated as job work services attracting 12% GST under entry 26(id) of notification 11/2017.
CBIC Clarifications on Place of Supply for Certain Services: GST Circular 203/15/2023
CBIC GST circular 203/15/2023 for clarifying place of supply rules for transportation, advertising, co-location services. Understand the changes and impact on GST compliance.
Minimum Wage Compliance Framework in India
Learn about the importance of minimum wage compliance in India, the legal framework governing it, and the key components involved in ensuring compliance.
ICAI Advisory on Certification of CSR Funds Utilisation
ICAI issues advisory requiring companies to obtain an Independent Practitioner’s Report on CSR fund utilisation from auditors/ CAs, ensuring compliance with Companies Act and ICAI Guidance Note, along with …