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Posted on February 28, 2025, by Niftynews The LIC share price took a sharp 2% dip on February 28, 2025, reaching a fresh 52-week low of ₹729. This significant drop in LIC shares followed the announcement that the company had received a demand order for GST, interest, and penalty from Maharashtra state, totaling approximately ₹480 crore…
The landscape of domestic transfer pricing in India has been evolving, particularly in the context of the Goods and Services Tax (GST) regime. As businesses navigate the complexities of GST compliance and inter-unit transactions, several key legal developments have shaped the approach to transfer pricing, especially with respect to Section 40A(2)(b) of the Income Tax…
GST Council Hikes Tax on Used Cars to 18%: What It Means for the Pre-Owned Car Market The Goods and Services Tax (GST) Council’s recent decision to raise the tax rate on used cars from 12% to 18% has sent ripples through the pre-owned car industry, sparking concerns among industry leaders and stakeholders. Announced on…
GST on Used Electric Vehicles: Clearing the Confusion The recent decision by the GST Council to impose an 18% tax on the resale of used electric vehicles (EVs) has caused considerable misunderstanding. At the heart of the issue is a clarification by Finance Minister Nirmala Sitharaman, who explained the tax would apply to the “margin…