Union Budget 2025: Govt may introduce personal income tax breaks, says report
The Centre is considering a plan to introduce personal income-tax breaks to boost consumption, CNBC-TV18 reported on January 17. A […]
90,000 salaried individuals withdraw Rs 1,070 cr worth wrongful tax deduction claims
As many as 90,000 salaried individuals, both from PSUs and the private sector, have withdrawn wrongful tax deductions claims totalling
GST @18% on sale margin of old & used EV notified, applicable only for registered dealers
The Central Board of Indirect Taxes & Custom (CBIC) has notified 18 per cent GST on sale margin of old
Definition of declared tariff omitted and specified premises substituted linking with actual value of supply of accommodation provided by the hotel, effective from April 01, 2025
Background: The 55th GST Council Meeting held on December 21, 2024, recommended to omit the definition of declared tariff and
CBIC notifies various amendments to the GST Services Rate Exemption Notification
The CBIC vide Notification No. 06/2025-Central Tax (Rate) dated January 16, 2025 has introduced amendments to base Notification No. 12/2017-Central
Renting of any Commercial/ Immovable Property (other than residential dwelling) excluded from the levy of GST under RCM for Composition Taxpayers
Background: The 55th GST Council Meeting held on December 21, 2024, recommended to exclude taxpayers registered under composition levy scheme
Tax leviable under forward charge mechanism on sponsorship services provided by the body corporates
Background: The 55th GST Council Meeting held on December 21, 2024, recommended to bring supply of the sponsorship services provided
CBIC increases the GST rate from 12% to 18 % on sale of all old and used vehicles, including EVs other than SUVs
Background: The GST Council in its 55th meeting held on December 21, 2024, recommended several significant decisions aimed at tax
CBIC reduces the Compensation Cess rate to 0.1% on supplies to merchant exporters, at par with GST rate for such supplies, subject to specified conditions
Background: The GST Council in its 55th meeting held on December 21, 2024, recommended several significant decisions aimed at tax
55th GST Council Meeting, Customs Notification - 2025
CBIC exempts IGST on imports of all equipments and consumable samples by inspection team of International Atomic Energy Agency (IAEA), subject to specified conditions
Background: The GST Council in its 55th meeting held on December 21, 2024, recommended several significant decisions aimed at tax