The Centre is all set to issue notices to tighten noose around the entities that deposited huge sum of cash in banks after demonetisation. This comes a day before the first anniversary of the initiative that marked the Narendra Modi government’s drive against black money and corruption. Sources said today the Income Tax Department would […]
The meeting of the Goods and Services Tax (GST) chaired by Union Finance minister Arun Jaitley decided to reduce tax on 178 items under the highest 28% slab to 18%, effective November 15. Friday’s meeting also agreed to reduce tax on restaurant bills, but given that these eateries will not get any input tax credit […]
The GST Council on Friday overhauled the new tax regime reducing the 28 percent tax levied on 178 items to 18 percent or lesser. Most important of them all, the Council decided to salsh the tax rate on AC and non-AC restaurants to 5 percent from the current 18 percent slab. The new rates will […]