@abhishekrajaram's Latest X Threads

New Crackdown on Unregistered Tobacco Packing Machines in India: Rs 1 Lakh Penalty Imposed This new regulation, introduced in the Finance Bill 2024, aims to curb revenue leakage within the tobacco manufacturing sector.

Time limit has been extended till April 30, 2024 for processing non-scrutiny Income Tax Returns upto AY 2020-21. Central Board of Direct Taxes #CBDT has vide Order No. F.No.225/132/2023/ITA-II dated 31-Jan-2024 extended the same.

📢 Rich taxpayers will now need to give more details! ITR-2, ITR-3 for FY 2023-24 notified by CBDT. 💼💰💡 #TaxUpdates Taxpayers who earn more than Rs 50 lakh or have more than one house need to share extra information when they file their income tax return (ITR).

Printing of photographs provided in soft form, binding them and selling them as photo books, amounts to manufacture under Excise Tariff Heading 4911 and therefore not liable to Service Tax. After the introduction of GST, said item was liable to GST of 12% as a supply of goods.

In my view, GST levied on hospital room rents exceeding Rs 5,000 should be reconsidered.

GST collections surge to second highest ever at 1.72 lakh crore in January This marks the second-highest monthly collection ever, with three months in the current fiscal year recording Rs 1.70 lakh crore or more in collections.

Supply of services for right to use of car parking space would be taxable at 18%: West Bengal AAR Authority for Advance Rulings, West Bengal Eden Real Estates (P.) Ltd., In re - [2023] 146 taxmanncom 459 (AAR-WEST BENGAL)

My Expectations #Budget2024 Set Goals that are challenging but not impossible!!

Private sector space players demands government relief on FDI and GST exemption After India created history through Chandrayaan-3’s soft landing on the moon last year, the booming private sector space industry in the country is pinning hopes on this year’s interim Budget.

The Kolhapur Municipal Corporation (KMC) s𝗲𝗲𝗸𝘀 𝗮 𝗵𝗶𝗸𝗲 𝗶𝗻 𝗚𝗦𝗧 𝗰𝗼𝗺𝗽𝗲𝗻𝘀𝗮𝘁𝗶𝗼𝗻. 💸 Currently, the KMC gets around Rs 14.5 crore per month as compensation for giving away its right to collect indirect taxes like the Local Body Tax (LBT).