Infosys Among Other IT Firms Targeted for Tax Evasion
Recently, the Karnataka government slapped India’s second-largest IT company with a GST tax evasion notice for more than INR 32,000 crores. Infosys, a Bengaluru-headquartered IT giant, reported that they received the pre-show cause notice for the period of July 2017 to March 2022 regarding the expenses incurred by overseas branch offices of Infosys Limited. Further,…
Shipra Prajapati
Zomato Faces Massive ₹9.45 Crore GST Demand Notice
As per the BSE exchange filing, on June 30, Karnataka’s Assistant Commissioner of Commercial Taxes issued a GST demand notice to Zomato for Rs. 9.45 crore, including interest and penalty. The company’s exchange filing mentions, “This is to inform that the company has received an order for FY 2019-20 pursuant to the audit of GST…
Vikas
Union Budget 2024-25: What To Expect?
Finance Minister of India, Dr Nirmala Sitaraman, will present the 2024-2025 union budget today, February 1, with high expectations for the healthcare, education, infrastructure, and income tax fronts. With this new budget, the government hopes to sustain the nation’s economic growth and attain a lower than previous year and acceptable fiscal deficit target. In its…
abhinav singh
Zomato Faces ₹402 crore Show Cause Notice Over Unpaid GST
The Indian food delivery giant, Zomato, on Wednesday received a show cause notice from the Directorate General of GST over non-payment of GST. The show cause notice was sent to the Gurugram-based food aggregator, demanding the company to answer why they haven’t paid a tax of over ₹402 crore on the food delivery charges along…
GST Council Announces Key Decisions: A closer look
In a significant development aimed at fostering cooperative federalism and enhancing the simplicity of India’s tax regime, Finance Minister Nirmala Sitharaman chaired the 50th GST Council meeting in New Delhi on 11th July 2023. The meeting witnessed the presence of esteemed dignitaries, including MoS (F) Pankaj Chaudhary, Revenue Secretary Sanjay Malhotra, Chairman CBIC Vivek Johri,…
Vishal Prajapati
Unlocking GST Data: New Insights for Businesses and Policy Makers
The Goods and Services Tax Network (GSTN) has recently announced its intentions to make more tax data available to the public. According to a statement released by ASSOCHAM, an esteemed industry body, GSTN’s Chief Executive Manish Kumar Sinha revealed that a committee is currently considering the inclusion of additional geographical and industry-related information in the…
Latest Update: All You Need To Know About New GST Rule
A new rule has been launched for businesses whose turnover is ₹100 crores or above. The GST Network has announced that these businesses have to upload their electronic invoices on Invoice Registration Portal (IRP) within 7 days of the issue of such invoices, which will come into effect from 1 May 2023. Currently, businesses upload…
Sumit