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NEUTRALIZING BASE EROSION AND PROFIT SHIFTING BY MULTINATIONAL AND TECH COMPANIES

Overview Due to advent of e-commerce and IoT, the businesses have less of physical trace and therefore its easy for organisation of developed world which largely follows residency-based taxation to shift their headquarters to locations where the tax rates are favourable.Major economies are aiming to discourage multinationals companies (MNC’s) from shifting profits and tax revenues

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TDS at a higher rate on non-filer of Income Tax return (Section 206AB of Income Tax Act, 1961)

TDS at a higher rate on non-filer of Income Tax return (Section 206AB of Income Tax Act, 1961) Background: Section 206AA of the Act provides for higher rate of TDS for non-furnishing of PAN. Similarly, section 206CC of the Act provides for higher rate of TCS for non-furnishing of PAN. Such provisions have served their

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Reduction in GST rates on items being used for covid relief and management (Dated: 12.06.2021)

Reduction in GST rates on items being used for covid relief and management: GST Council has in its 44th GST council meeting dated 12th June, 2021 has reduced GST rates on the specified items being used in Covid-19 relief and management. GST rates on life saving drug being Tocilizumab for treating covid 19 and Amphotericin

Reduction in GST rates on items being used for covid relief and management (Dated: 12.06.2021) Read More »