In a recent ruling, the Rajasthan bench of the GST AAR determined that the softy ice-cream mix, sold by VRB Consumer Products, is primarily sugar-based, and not a milk product. As a result, it will attract a Goods and Services Tax (GST) rate of 18%.
In a rapidly unfolding investigation into a multi-crore GST scam, 35 individuals have been named as accused, including Siddharth Barad, nephew of BJP MLA Bhaga Barad.
The GoM will submit its recommendations to the GST Council by October-end, which will make the final decision. Additionally, the panel also addressed the GST on around 100 products.
ICAI has announced the empanelment of members to act as observers for the upcoming Chartered Accountants (CA) examinations, scheduled from January 11 to January 21, 2025.
The ICAI, in collaboration with Business Standard, is inviting nominations for the 40 Under 40: CA Business Leader Awards 2024
RBI orders ban on loan sanction and disbursal by four NBFCs, citing regulatory violations. Learn more about the impact and details of the directive
In a significant development for the insurance sector, the Group of Ministers (GoM) has proposed exempting Goods and Services Tax (GST) on term life insurance premiums and health insurance premiums paid by senior citizens.
The Group of Ministers (GoM) on Goods and Services Tax (GST) rate rationalisation met on Saturday to discuss significant tax adjustments aimed at easing the financial burden on consumers.
India's income taxpayer base has crossed 10 crore, nearly doubling in the last decade. Tax buoyancy rose to over 2 in FY24, indicating strong tax revenue growth aligned with GDP.
India's personal income tax collection rose by 294% over a decade, reaching Rs 10.45 lakh crore in FY24, while corporate tax collections grew by 112%. Tax compliance, return filings, and India's tax-to-GDP ratio also improved.
Landmark Judgments: Important Provisions of the EPF & ESI Act interpreted by the Honorable Supreme Court of India
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