The Tuesday evening decision of the government to raise excise duty levels on petrol and diesel by historic high levels has taken up tax component on retail price of auto fuels closer to 70% level.   What this means is that the bulk of the retail price a common man pays to get fuel is...
  • The income-tax (I-T) department and the Central Board of Indirect Taxes and Customs (CBIC) have warned taxpayers not to succumb to the temptation of getting faster refunds by clicking on any fake links.   The fake message about refund of goods and services tax (GST) read, “Dear...
  • In partial relief to financially stressed Vodafone Idea, the Supreme Court on Wednesday has allowed for a tax refund of Rs 733 crore to the telecom operator.   The top court has directed the Centre to refund the amount within four weeks.   Vodafone Idea had sought for a...
  • These are unprecedented times as an extremely severe health and economic crisis is impacting our lives to a major extent, courtesy the novel coronavirus (COVID-19). Many distinctive features make COVID-19 a very eclectic crisis. First, it is a highly chaotic and unusual fusion of a deadly...
  • The Central Board of Direct Taxes (CBDT) has issued charge sheets to three senior Indian Revenue Service (IRS) officers and has divested them of their current responsibilities for their role and complicity in the preparation of the 'tax hike' report 'FORCE' which advocated imposition of...
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