Taxation

The government on Thursday extended the due dates for filing of annual return (GSTR-9) and reconciliation statement (GSTR-9C) for financial year 2017-18 to December 31, 2019 and for financial year 2018-19 to March 31, 2020.   The Centre also decided to simplify these forms by making...
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While the Tata Trusts have maintained that they surrendered their tax registration in 2015 itself, the income-tax (I-T) department, however, has clarified that the move was a forced one after these six Trusts were found flouting the provisions of the I-T rules, says a...
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On the last day of October 2019, the Mumbai-based principal commissioner of income tax (PCI-T) cancelled the I-T registration of six trusts from the Tatas, namely Jamsetji Tata Trust, RD Tata Trust, Tata Education Trust, Tata Social Welfare Trust, Sarvajanik Seva Trust and Navajbai Ratan Tata...
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In more fiscal worries for the government, the Goods and Services Tax (GST) collection dropped 5.29 per cent to Rs 95,380 crore in the month of October 2019, on year-on-year basis.   Out of the total GST collection in this period, the central GST (CGST) comprised Rs 17,582 crore and...
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The Supreme Court has said that communications sent by the assessee cannot be taken as admission of non-disclosure or being a case of unconditional offer to pay tax. While setting aside an order passed by the High Court, the apex court also noted since the disclosure in question was made by...
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