Month: October 2021

Mitigate Indirect Tax Errors and Safeguard your organization

For every enterprise, irrespective of the size, calculating and getting the indirect taxes right is vital and indispensable. Indirect taxes affect a company’s cash flow and bottom-line. As companies expand in size and reach, indirect tax obligations and reporting requirements expand as well. Businesses bear an obligation to track all relevant indirect taxes, make accurate …

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Everything you need to know about the 43rd GST Council Meeting

Amidst the second wave of the Coronavirus pandemic, the Goods and Services Tax Council held its 43rd council meeting in New Delhi on May 28th, 2021. They discussed various concerns, including new Covid-19 relief measures, changes in tax rates, simplification of annual returns, etc. Here are the highlights of the 43rd GST council meeting.  COVID-19 …

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Income Tax Department To Accept Pending Settlement Cases

Central Board of Direct Taxes (CBDT) has directed the income tax department to accept all pending tax settlement cases applications till September 30, 2021. In an order dated September 28, CBDT directed the Commissioner Income Tax to admit all such pending applications to settle the cases. Taxpayers will now be able to file their applications …

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Income Tax Refunds Worth 92,961 Crore Issued In 2021-22

Income tax refunds worth more than ₹ 90,000 crore have been issued in the current fiscal1 Income Tax refunds totalling ₹ 92,961 crore have been issued to taxpayers during the current fiscal, the Central Board of Direct Taxes (CBDT) said on Thursday. These figures include refunds of ₹ 23,026 crore in 61,53,231 cases and corporate tax refunds of  69,934 crore in 1,69,355 …

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