ESOPs exempt from GST, barring where foreign companies charge additional amountThe Central Board of Indirect Taxes and Customs (CBIC) clarified that multinational companies offering Employee Stock Purchase Plans (ESPPs...
28 Jun, 2024, 12.26 AM IST
Take FPI custody services out of GST: Lenders to governmentThe issue cropped up during the GST audit of some foreign banks and lenders expect tax demands notices since 2017 when the new indirect tax...
27 Nov, 2023, 12.44 AM IST
Government exempts IGST on ocean freight from October 1KPMG Indirect Tax Head & Partner Abhishek Jain said the amendments proposed are aligned with the apex court's ruling in the case of Mohit M...
27 Sep, 2023, 08.00 PM IST
FinMin operationalises amnesty scheme for traders failing to meet export obligationThe finance ministry has operationalized the amnesty scheme for traders who defaulted in export obligation under the Advance and EPCG autho...
18 May, 2023, 03.37 PM IST
CBIC waives penalty, interest fee on account of technical glitchThe Central Board of Indirect Taxes and Customs (CBIC) has decided to enable Electronic Cash Ledger (ECL) in phases for importers and expor...
06 Apr, 2023, 07.51 PM IST
Input Tax Credit cannot be claimed on goods/services used for CSR activities: Budget 2023KPMG in India Partner, Indirect Tax, Abhishek Jain said the Finance Bill proposes to restrict input tax credit paid on goods and services u...
01 Feb, 2023, 08.06 PM IST
'Sops for RuPay, BHIM-UPI are subsidy, not taxable'The Central Board of Indirect Taxes and Customs (CBIC) Friday clarified that incentives paid by the Ministry of Electronics and Information...
14 Jan, 2023, 12.43 AM IST
CBIC notifies the Customs Valuation Rules 2023, effective from February 11The Central Board of Indirect Taxes and Customs (CBIC) will come out with a list of 'identified goods', which will be subject to stricter s...
11 Jan, 2023, 10.37 PM IST
Tax appellate tribunal asks CBIC to frame norms for tax recovery in insolvency casesKPMG Tax Partner Abhishek Jain said the insolvency and bankruptcy law in India overrides any other law and stipulates that recovery proceed...
27 Oct, 2022, 07.28 PM IST
Slow GST portal: CBIC mulls extending Sept returns filing due date"Taxpayers have reported slowness in portal while filing GSTR 3B return today. The persistence of the issue is acknowledged. Technical team...
20 Oct, 2022, 10.27 PM IST
FinMin makes unauthorised publication of export-import data compoundable offenceThe Central Board of Indirect Taxes and Customs (CBIC) on August 22 notified the amendments to the Customs (Compounding of Offences) Amendm...
24 Aug, 2022, 06.52 PM IST
CBIC raises monetary thresholds for customs offencesThere will be no prosecution against foreigners and non-resident Indians (NRIs) on detection of non-declaration of foreign currency, if it ...
17 Aug, 2022, 11.26 PM IST
Finance Ministry seeks industry views on changes in monthly GST payment formThe paper takes into consideration various suggestions of both taxpayers and administrators, including auto-population and amendment in GST...
15 Jul, 2022, 02.01 PM IST
No excise duty on ATF used in Indian carriers' international flightsConfusion arose on the leviability of the excise duty on domestic airlines for their foreign flights after the government on July 1 slapped...
09 Jul, 2022, 12.51 AM IST
GST registration exemption for online seller with low turnover to boost e-commerceNow such suppliers will not have to obtain GST registration, if their turnover is lower than Rs 40 lakh and Rs 20 lakh for goods and servic...
30 Jun, 2022, 11.21 AM IST
Govt extends deadlines for furnishing annual GST returnsA notification to the effect will be issued subsequently, the government has said.
30 Sep, 2020, 03.55 PM IST
FlexiLoans banks on some heavy hittersSanjay Nayar, Vikram Sud, Anil Jaggia, Narayan Seshadri and others infuse Rs 100 crore in FlexiLoans; investments to be in their personal c...
07 Oct, 2016, 09.14 AM IST