Concept of Prepaid Payment Instruments (PPIs) or digital wallets or e-wallets (Electronic Wallets) has…
GST Inclusions of Online Gaming Industry in Regime
Amendments in section 2 (Definitions) a) Definition of specified actionable claim –…
Recommendations of the 49th GST Council Meeting
The 49th GST Council meeting held on 18th February 2023 has made the following…
ITC of tax paid on expenditures incurred to combat COVID-19 – A sigh of relief or a matter of concern
Introduction While we write this article, the entire world is suffering through…
COVID-19 together with new Tax Regime – Silver Lining for “Make in India”
The Indian Government launched its “Make in India” initiative in the year…
Taxation of amount received by a partner for reduction in profit sharing ratio
Controversies in taxation of partnership firms and partners are quite common as…
Removal of defect u/s 139(9) in return dates back to original return
The Income Tax Act, 1961 provides a comprehensive mechanism for dealing with…
Refunds amounting to Rs. 26,242 crore issued since 1st April, 2020
Central Board of Direct Taxes (CBDT) has issued tax refunds worth Rs.…
DVDs/CDs supplied with software to use it as application are not ‘e-books’, ineligible for 5% GST
Where assessee/dealer is engaged in publishing law journal in print and selling…
ITC on Construction and Works Contract Services
In the flashy world we live in, splurging on interior decoration and…