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Rs 2000 note withdrawn: Things to keep in mind while depositing cash to avoid income tax notice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

Tarun Kumar Madaan , Neeraj Agarwala , Reserve Bank , Financial Transactions , Annual Information Statement , Nangia Andersen , Income Tax Return , Tax Head , State Bank , 2000 Note , 000 Note Withdrawn , Income Tax ,