Under GST, goods include movable properties, crops, and actionable claims but exclude money and securities. Since electricity is a form of movable property ... simplifying the tax structure. 10. Will ...

Gujarat Appellate Authority for Advance Ruling (AAAR) upheld the previous ruling on the GST classification of DOMS ... states as under: (30) “composite supply” means a supply made by a taxable person ...

Rule 46 (b) of the CGST Rules 2017 specifies that the tax invoice issued by a registered person should ... be started by the GST taxpayers. A similar provision is there in Rule 49 of the CGST Rules ...

Under these following circumstances, the GST officers shall be issued notice to the taxpayers. They are: 1. A person ... Form GSTR-1 and GSTR-3B by a taxpayer in any tax period, 5. If a tax payer is ...

The exemption is the gift and estate tax lifetime exemption. The GST Tax Exemption GSTs still serve as tools for high-net-worth individuals to transfer wealth at a lower tax rate even with the ...

Chairman & MD, BajajCapital. The current Goods and Services Tax (GST) rate of 18% on insurance premiums is a major barrier, particularly for low-income groups. High premiums, compounded by GST ...

Insurers will closely watch for tax ... composite licence is to permit insurers to offer life, general and health insurance products under a single licence. The industry had been waiting for the ...

The government's retrospective amendment to the Finance Bill 2025 overrides the Supreme Court's ruling from October 2024, disallowing ITC on construction expenses for leased properties. This affects ...

New Income Tax Bill: The Union Cabinet has approved the New Income Tax Bill, which aims to replace the 1961 Act by simplifying direct tax legislation. This proposed bill, featuring clearer ...

Artificial Juridical Person. Income Tax Bill News LIVE: The Income Tax Act of 1961 has been in existence for over the last 60 years and has 298 sections and 23 chapters. In the last six decades ...

Presenting the Union Budget 2025-26 on February 1, Finance Minister Nirmala Sitharaman announced the government’s plan to introduce the new Income Tax Bill in Parliament. In her budget speech ...

The Centre is likely to take up the issue of simplification and rationalisation with the group of ministers (GoM) mandated to examine the rates, a person familiar with the deliberations said. The ...