Friday 2 March 2018

Tamil Nadu Govt. divides taxpayer base with Centre; Around 5 lakh taxpayers with State

Tamil Nadu Govt. notifies division of taxpayer base with Central Govt.; 50,175 taxpayers having less than Rs. 1.5 Cr turnover have been allotted to Centre, while 451,590 taxpayers have been assigned to the State; In case of taxpayers with more than Rs. 1.5 Cr turnover, 44,009 are with Centre, and 43,977 with State : Tamil Nadu Govt. Order 
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HC upholds validity of provisions restricting ITC where supplies are taxed under RCM

  This Tax Alert summarizes a recent judgement of the Delhi High Court (HC) [1] dealing with the issue of denial of input tax credit (ITC) ...