by gstsuvidhacenterWB093 | May 15, 2025 | Tax, Legal & Accounting
The Union Finance Ministry released a draft on India’s climate finance taxonomy last week. The draft document aims to guide investors toward activities aligned with India’s climate goals and transition pathways. The proposal gives out a “hybrid approach” which will...
by gstsuvidhacenterWB093 | May 15, 2025 | Tax, Legal & Accounting
India’s GST collections for FY2024–25 touched a total of ₹16,75 lakh crore, an increase of 9.98% against ₹15.23 lakh crore collected in FY23-24. This reflects continued momentum in economic activity and compliance improvements. Among states, Maharashtra emerged as the...
by gstsuvidhacenterWB093 | May 15, 2025 | Tax, Legal & Accounting
NEW DELHI: Flagging concerns over the misuse of a Central Goods and Services Tax Act provision, Delhi high court has fined a private firm for fraudulently claiming input tax credit (ITC) to escape paying full GST.“This court takes note, with some consternation, that...
by gstsuvidhacenterWB093 | May 15, 2025 | Tax, Legal & Accounting
New Delhi, Mankind Pharma Ltd on Wednesday said it has received additional tax demands, including interest, of Rs 341.86 crore from the Income Tax authority. The company has received orders from the office of the Deputy Commissioner of Income Tax, Central Circle 29,...
by gstsuvidhacenterWB093 | May 15, 2025 | Tax, Legal & Accounting
The Goods and Services Tax Network (GSTN) has issued important advisory about those taxpayers who wish to apply for the GST Amnesty Scheme on or before the deadline of June 30, 2025. The GST Amnesty Scheme under Section 128A grants total waiver of pending interest and...
by gstsuvidhacenterWB093 | May 14, 2025 | Tax, Legal & Accounting
The Income Tax Appellate Tribunal (ITAT) Mumbai recently exempted an NRI step-brother from paying any income tax after the tax department added Rs 7.88 crore income in his Income Tax Return (ITR) on which they asked him to pay the appropriate income tax. In this case,...
