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Govt exempts IGST on ocean freight from October 1 | The Financial Express

Govt exempts IGST on ocean freight from October 1 | The Financial Express
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Abhishek Jain , High Court , Supreme Court , Gujarat High Court , Mohit Minerals , Finance Ministry , Reverse Charge , Tax Head , Partner Abhishek Jain , Cost Insurance Freight , Gujarat High ,

Government exempts IGST on ocean freight from October 1

KPMG Indirect Tax Head & Partner Abhishek Jain said the amendments proposed are aligned with the apex court s ruling in the case of Mohit Minerals and help explicitly mention the government s alignment to the position. "While this has been issued prospectively, the industry has been seeking and successfully claiming refund of taxes already paid for the past period, where credit has not been availed," Jain added. ....

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Income Tax Return: 5 changes you should keep in mind while filing ITR in 2023

Keeping track of these changes will help you avoid errors and ensure that your ITR is filed accurately ....

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Depositing Rs 2,000 notes in banks to attract income tax charges? Read to know more

The Reserve Bank of India recently announced the withdrawal of Rs 2,000 notes, further giving a deadline to deposit them in banks ....

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Rs 2000 note withdrawn: Things to keep in mind while depositing cash to avoid income tax notice

While there is one-time limit of Rs 20,000 and no overall limit on cash deposits in bank accounts, tax experts emphasise the importance of being aware of reporting requirements and the potential scrutiny from the income tax department. ....

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