Tamil Nadu has become the first state in India to cut the petrol price in fiscal year 2021-22 by Rs 3/litre, providing a major relief to consumers. Key...
The Central Government has begun a review of the goods and services tax (GST) law so as to provide clarity on the various issues that have cropped up...
Union Finance Ministry has decided to issue certificates of appreciation to over 54,000 GST payers. Why certificates will be issued? Certification of appreciation will be issued for timely...
The West Bengal Chief Minister recently requested the Prime Minister Narendra Modi to exempt COVID medicines and oxygen tanks from taxes. Several other states such as Odisha were...
The Government of India recently waived the Integrated GST till June 30, 2021. This included Remdesivir, Beta cyclodextrin, medical grade oxygen, oxygen concentrators, cryogenic transport tanks, etc. Conditions...
The Ministry of Finance recently announced that the businesses with annual turn over of more than Rs 5 crores will have to furnish six-digit HSN code on their...
The Department of Revenue recently announced that the GST tax payers should compulsorily pay at least 1% of their tax in cash. This is to come into effect...
The Central Board of Indirect Taxes and Customs (CBIC) has made it mandatory to mention the 8 digit HSN code in tax invoices for 49 chemical-based products while...
On October 29, 2020, the Union Cabinet chaired by PM Modi approved the Mechanism for the public sector oil companies to procure ethanol. Key Highlights Under the new...
On October 23, 2020, the Government of India transferred Rs 6000 crores to 16 states and two union territories as the first tranche. The interest rate has been...
