Trudeau Resigns
Justin Trudeau’s resignation as Canada’s Prime Minister marks the close of an era that began with immense hope but ended amid growing challenges and dissatisfaction.
Justin Trudeau’s resignation as Canada’s Prime Minister marks the close of an era that began with immense hope but ended amid growing challenges and dissatisfaction.
During its 55th meeting, the GST Council clarified that tax treatment for popcorn would depend on its flavour and the way it was sold; while popcorn sold loose will be taxed at 5 per cent, GST on popcorn will incre a se to 12 per cent if it was sold in packets under a brand name, while caramelised popcorn would be taxed at 18 per cent.
The year 2024 saw the Central Board of Direct Taxes (CBDT) prioritising the speedy processing of returns and refunds, with over Rs 2.35 lakh crore refunded and more than 3.87 crore Income Tax Returns (ITRs) processed within 7 days.
Union Finance Minister Nirmala Sitharaman on Saturday announced that the Goods and Services Tax Council has approved the reduction of GST on rice kernels to 5 per cent, exempted life-saving gene therapy from tax, and extended the GST exemption for parts used in manufacturing (SAM).
Unlike conventional advertising, digital advertising increases impact by individualising ads while also reducing businesses’ advertising costs. Nobel Laureates Acemoglu and Johnson are not the first to suggest a tax on revenues from digital ads.
The government on Monday issued a clarification regarding taxability of services provided by an office of an organisation in one state to the office of that organisation in another state.
The request from Odisha CM comes a fortnight ahead of the GST Council meeting, to be held on July 11 in the national capital.
Pakistan Stock Exchange's (PSX) benchmark KSE-100 index jumped more than 1,000 points as the country expects to sign a deal with the International Money Fund (IMF) to unlock much-needed funds, local media reported.
The GST Council in its meeting next month, is likely to discuss measures to ensure strict provisions for preventing fake generation of Input Tax Credit (ITC), aiming to prevent tax evasion, a senior official said on Friday.
Many methods have been tried for elimination of black money; we had several rounds of demonetisation, several voluntary disclosure schemes, some schemes to regularise undisclosed foreign assets, and so on. The only commonality between all such measures was their failure to prevent generation of black money. Strategically declaring their black money, tax evaders took full advantage of the frequently announced Government schemes. However, not many of the tax evaders discontinued their tax evading ways, so, after a few years, things came back to square one
