Parliament passes Taxation and Other Laws (Relaxation and Amendment of Certain provisions) bill

On September 23, 2020, Parliament passed the Taxation and other laws (Relaxation and Amendment of certain provisions) bill, 2020. It replaces an ordinance and will make few changes to direct and indirect tax laws. It was cleared in Rajya Sabha ..

Month: Current Affairs - September, 2020

Aadhaar authentication for new GST registration activated

Aadhaar authentication has been activated by the Government for the registration of new goods and services tax, which will provide an impetus for the enhancement of ease of doing business. Physical verification is not needed for new registration but the ..

Month: Current Affairs - August, 2020

UK to charge 2% tax on digital services

United Kingdom recently announced that it would start charging a 2% tax on digital services from 1st April this year. The tax is to be imposed on revenue from digital services such as search and advertising. This tax will apply ..

Lok Sabha clears Taxation (Amendment) bill, 2019

On December 2, 2019, Lok Sabha passed the Taxation Laws (Amendment) bill, 2019. The main objective of the bill is to provide an option for the domestic companies to pay taxes at the rate of 22%. Key Features The bill ..

Month: Current Affairs - December, 2019

Government notifies Sabka Vishwas-Legacy Dispute Resolution Scheme, 2019

Union Finance Ministry has notified Sabka Vishwas-Legacy Dispute Resolution Scheme, 2019, a dispute resolution and amnesty scheme to reduce legacy service tax and central excise cases. It will become operational from September 1, 2019 four months till December 31, 2019. ..

Month: Current Affairs - August, 2019

Tweaks to the FPIs in Union Budget

The Indian Government has made a few tweaks to the norms of foreign portfolio investors (FPIs) to attract funding for the Indian capital market. What has happened? The Indian Government had, in the recent Union Budget, announced that increased surcharge ..