TAXES

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Direct taxes v/s Indirect taxes in India

Difference between Direct Tax and Indirect Tax in India Introduction In India, the government’s right to impose taxes is derived from the Constitution Of India, which divides the power to levy taxes between the state and central governments. All taxes charged in India must be accompanied by a law issued by either the Parliament or …

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Analysis of Whether State Government Can Levy Tax on Inter State Sale of Electricity

Analysis of Whether State Government Can Levy Tax on Inter State Sale of Electricity

Background In case of ONGC Tripura Power Co. Ltd. v. State of Tripura, the petitioner has challenged the vires of Section 4(4)(d) of the Tripura Electricity Duty Act, 2019 on the ground that the same seeks to levy duty on inter-State sale of electricity which is beyond the competence of the State legislature. Petitioner ONGC Tripura …

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customs-37305f32

CBIC ABOLISHES LICENCE RENEWAL REQUIREMENT FOR CUSTOMS BROKERS, AUTHORISED CARRIERS

CBIC ABOLISHES LICENCE RENEWAL REQUIREMENT FOR CUSTOMS BROKERS, AUTHORISED CARRIERS The Central Board of Indirect Taxes and Customs (CBIC) has w.e.f. 23.07.2021 abolished the requirement of periodic renewals of Licence/Registration issued to Customs Brokers and Authorised Carriers. This would greatly help reduce the compliance burden cast on the trade, which had to otherwise make application …

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Introduction to US Tax Returns

Introduction to US Tax Returns

Introduction to US Tax Returns Introduction Just as we have different tax return forms for different purposes, The United States of America is no exception. U.S. also prescribes different types of tax returns for different purposes. The tax returns are differentiated on the basis of the income on which one is liable to pay taxes. …

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