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Vedanta Ltd has received GST demand notices to the tune of Rs 1.86 crore for availing input tax credit, which has been termed «ineligible» by the tax authority. The company said it will file an appeal against the orders. In a regulatory filing on Tuesday, Vedanta Ltd said the Office of the Assistant Commissioner, Tirunelveli, Tamil Nadu, has sent the GST demand notice. «The company has received orders from Office of Assistant Commissioner, Tirunelveli, Tamil Nadu, confirming demand of GST related to Input Tax Credit availed by the company which is regarded as ineligible by such tax authority for the period from FY 2017-18 till FY 2021-22,» Vedanta said.

Kejriwal is facing demands of resignation following his arrest by the Enforcement Directorate in the Delhi excise policy case. Talking to news agency ANI, Rastogi said it is “public morality" that demands that Kejriwal quits his post. “...You are holding a high office of a chief minister, and it is a public office.

₹1.78 trillion. This is the second-highest monthly mop-up since the tax regime was implemented in mid-2017, topped only by April 2023’s intake of ₹1.87 trillion. For the latest fiscal year ended 31 March, GST revenue stood at ₹20.1 trillion, a 12% increase.

Zomato on Sunday said it has received a tax demand, interest, along with penalty, to the tune of Rs 23.26 crore from the Assistant Commissioner of Commercial Taxes (Audit), Karnataka. The online food delivery platform said it will appeal against the order before the appropriate authority. In a regulatory filing to the BSE, the company said it has «received an order for FY 2018-19 pursuant to the audit of GST returns and accounts by the Assistant Commissioner of Commercial Taxes (Audit), Karnataka, raising demand of GST of Rs 11,27,23,564, along with applicable interest and penalty totaling to Rs 23,26,64,271.

Arvind Kejriwal from the post of Delhi chief minister. The petition was filed a day after a similar plea was dismissed by the Delhi High Court. On Thursday, the Delhi High Court rejected the PIL seeking the removal of Kejriwal from the post of Delhi chief minister, saying the petitioner did not show any legal provision prohibiting the Aam Admi Party (AAP) leader from running the government after arrest to warrant any judicial interference.

The Biden administration has restored rules to protect imperiled plants and animals that had been rolled back under former President Donald Trump

Income Tax Department's notice of ₹1,700 crore to the grand old party, saying the officials are being used as the ‘gundas’ of the ruling party. AICC general secretary in-charge KC Venugopal accused the Narendra Modi-led government of trying to “financially strangulate" the opposition parties during the election time. “The Narendra Modi government is doing this with the specific purpose of bankrupting the Congress party at a time when we are facing elections," the Congress leader told media persons as quoted by PTI. He pointed out that the political parties are usually exempted from paying taxes, but this penalty is in the name of delay in filing returns.

Arvind Kejriwal's ED remand ends today; CBI likely to seek Delhi CM's custody "They have also stooped to the level of comparing our courts to those countries where there is no rule of law and accusing our judicial institutions with unfair practices," the letter reads. The lawyers said that interest groups involved selective criticism or praise of court decisions based on their political agenda, described as a “My way or the highway" approach.

Three antitrust lawsuits filed by food businesses in federal court in Minnesota this week accuse some of the largest U.S. sugar-producing companies of conspiring to fix prices

The CBDT has permitted income tax authorities to file appeals irrespective of monetary threshold in cases relating to TDS/TCS, undisclosed foreign income, or information received from investigating agencies like ED and GST Intelligence. Currently, tax authorities can file appeals before the ITAT, High Court and Supreme Court, if the disputed tax demand exceeds Rs 50 lakh, Rs 1 crore and Rs 2 crore respectively — a threshold fixed in 2019.

Flipkart has made a one-time change to its increment policy this year, giving merit-linked payouts to all eligible employees in Grade 12 (mid-management) and below, instead of the usual pay hikes. In effect, employees will get two lump sum payments in April and October this year, equivalent in value to the salary increase that would have otherwise been paid out throughout the year. About 19,000-20,000 employees would benefit from this, a Flipkart executive told ET. The company will also roll out 100% bonuses to all its employees this year. Employees who are promoted will receive increments as usual, across grades. For the rest of the grades, the company has enabled wider spread of ESOP allocation to drive wealth creation.

fact check unit rules notification issued by the Union Government on March 20 till the Bombay High Court finally decides the challenges to the IT rules amendment 2023. The top court said that the validity of the rule involves serious constitutional questions and impacts the fundamental right of freedom of speech and expression. The Chief Justice of India said, «Till the disposal of the issue by the HC, we are desisiting to deal on merits which may foreclose assessment by the third judge. We are of the view that notification dated March 20, 2024, after rejection of application of interim relief, need to be stayed.»

Mergers and acquisitions of registered investment advisors continued at a strong, if not spectacular pace, in 2023, with RIA buyers and sellers contending with a turbulent stock market at the start of the year and the increased cost of deal-making as a result of rising interest rates, according to an annual survey by Advisor Growth Strategies, an M&A advisory and management consulting firm.

CBDT has permitted income tax authorities to file appeals irrespective of monetary threshold in cases relating to TDS/TCS, undisclosed foreign income, or information received from investigating agencies like ED and GST Intelligence. Currently, tax authorities can file appeals before the ITAT, High Court and Supreme Court, if the disputed tax demand exceeds Rs 50 lakh, Rs 1 crore and Rs 2 crore respectively — a threshold fixed in 2019. The Central Board of Direct Taxes (CBDT) in a circular dated March 15 said that the said monetary limits will not be applicable for filing appeals in cases where prosecution has been filed by the department in the relevant case, and trial is pending and conviction order has been passed and the same has not been compounded. Cases where the assessment is based on information with regard to an offence alleged to have been committed under any other law and information received from law enforcement or intelligence agencies like CBI, ED, DRI, SFIO, NIA, NCB, Directorate General of GST Intelligence (DGGI), and state law enforcement agencies, in such cases the appeals would be filed irrespective of the tax demand on the assessee.

Arvind Kejriwal for skipping multiple summonses of the Enforcement Directorate and said he cannot escape the «long hand» of the law for so long as there is evidence of his involvement in the alleged excise policy scam. Addressing a press conference at the BJP headquarters, party national spokesperson Sambit Patra also slammed the Aam Aadmi Party (AAP) for defending BRS leader K Kavitha, arrested by the Enforcement Directorate (ED) in connection with the case, and said probe agencies' actions are based on evidence. «Political parties do not set up probe agencies,» Patra added. The BJP's reaction came a day after the AAP called the ED a political wing of the BJP and dismissed the probe agency's charges against the party and its national convener Kejriwal calling them blatant and frivolous lies.

Carrying out any survey is a challenge not just because its sampling process must be right, but there is often an ‘information and understanding’ asymmetry between surveyors and respondents. Asking a man on the street what he thinks of the economy, for example, is an exercise fraught with trouble since only a tiny proportion of people would have studied economics and perceptions can vary widely. If one were asked the quantity of a certain product (say, spinach) consumed in the last 7 or 30 days, can one really remember how much? This is a problem with such consumer surveys.

Air India has laid off more than 180 non-flying staff in recent weeks, sources said while the airline maintained that the affected people were not able to utilise the voluntary retirement schemes and reskilling opportunities. The loss-making Air India was taken over by the Tata Group in January 2022 and since then, efforts are being made to streamline the business model. An Air India spokesperson on Friday said that as part of the fitment process, employees in non-flying functions have been assigned roles based on organisational needs and individual merit. «A comprehensive process has been followed to assess the suitability of all employees over the past 18 months. During this phase, there have also been multiple Voluntary Retirement Schemes and reskilling opportunities offered to employees.

Longtime Bitcoin critic Peter Schiff admitted on March 13 that he regrets not investing in Bitcoin when he was first introduced to it in 2010. The American stockbroker, known for advocating for gold investments, had previously mocked Bitcoin as a “pure Ponzi scheme.”

Himanta Biswa Sarma on Thursday announced a hike of four per cent in Dearness Allowance (DA) for the government employees in the state. Holding a press conference here today, the Assam CM said «This DA will be applicable from January 1, 2024.» With the hike, Assam government employees will now get 50 per cent dearness allowance (DA) in comparison to their basic salary, he said. At the presser, the CM also made announcements regarding the recruitment of Grade-IV employees in Lower Primary (LP) and Middle English (ME) schools in Assam.

Delhi High Court on Tuesday reserved its order on the Congress plea seeking a stay on the Income Tax notice for recovery of more On March 11, the Congress moved the Delhi High Court challenging the Income Tax Appellate Tribunal (ITAT) order which had dismissed the stay application. During the course of hearing, the Income Tax Department confirmed that they had recovered ₹65 crore from the grand old party's bank accounts of the ₹135 crore demand.

—Name withheld on request Rental income from a jointly owned house is taxable in the hands of the co-owners, in proportion of the investments made by each co-owner towards purchase of the property. On the assumption that your holding in the property will be inherited by your wife and daughter after your death, the rental income shall be taxable in their hands in proportion of their respective the property share (including the inherited portion). It is assumed that FDs and the MFs (held by you in India), shall be inherited by your daughter post your demise.