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HC bench to decide on taxability of intermediary services to clients abroad

Situation arises as two judges of Bombay HC are divided over the matter, which has now been referred to a third judge

Intra-company services by offices registered separately to attract GST: AAR

GST applicable even if employees appointed for firm as a whole, says Tamil Nadu authority

Recent numbers show FY24 doesn't bode well for India's merchandise exports

No reversal seen in the recent contraction or growth deceleration, with WTO projecting goods trade growth by volume to slow to 1.7% in calendar year 2023 from 2.7% in 2022

Appeal by firm can be heard even without certified copy of order: HC

Earlier, an appellate authority under the GST regime had rejected the appeal on the ground that it was not accompanied by a certified copy of the order against which the appeal was filed

Though not a poor state, Karnataka can ill-afford election freebies

The state's committed liabilities are projected to rise to 60% in FY'24 from 55% in the previous year

Core inflation falls in March but health inflation remains steady, elevated

Household goods and services, personal care products still hovering at high levels

Firms with Rs 100 cr turnover have to upload e-invoices within 7 days

The new rule starts in May and it will apply to document-type invoices in the GST system

Normal monsoon key but not the only factor to keep inflation under control

Developments such as Covid-induced lockdowns and the Russia-Ukraine war have also played a crucial role in keeping the inflation rate elevated

Bengaluru in close race with Delhi in direct tax collection: I-T dept data

Mumbai's share in overall kitty remains highest, but down at about 30% now

Cost inflation index for LTCG tax stands 5.13% higher in FY24 YoY

Long-term capital gains tax kicks in for listed equities if the holding period is one year, while it is two years for non-financial assets such as real estate

Core inflation still elevated despite muted demand, easing supply situation

Some economists believe that firms are using the excuse of supply disruptions, earlier due to Covid-19 and now the Russia-Ukraine war, to increase prices, calling it 'excuseflation'

Liquidated damages in certain cases to draw 18% GST, says AAR

The ruling was given in an application by Andhra Pradesh Development Company (APPDCL), a special-purpose vehicle set up to implement mega power projects in the state

Liquidated damages in certain cases to draw 18% GST, rules Andhra AAR

Such damages are the sum that one party receives when the other party fails to meet provisions of a contract

MPC lowers projection for inflation, raises growth outlook a bit in FY24

Volatility in global financial market has potential upsides for imported inflation, says committee

Floor mats for four-wheelers to attract 28% GST, says Gujarat AAR

The applicant, a manufacturer, had argued that 18% GST should be applicable

States switching to OPS incurring less proportion of earnings on pension

The state used to spend a proportion of its revenue receipts on pension expenditure in double digits in 2019-20 and 2020-21

Initial field work for annual survey of services sector begins for 2022-23

However, the survey itself may not come up before the end of 2024

Tobacco in gunny bags to attract 28% GST, 71% compensation cess: AAR

No new product emerges from the post-coating process, rules authority in Gujarat

Withdrawing new liquor policy set to hit Delhi revenues by 45% in FY23

State govt could still raise revenue surplus for the year after reverting to old way of conducting liquor trade

Overestimation of inflation in Jan, Feb? RBI cites NSO methodology

It points to a sharp divergence in inflation in the cereals sub-group