No GST on penal charges: The government has clarified that no bank, NBFC, regulated entities (REs) can charge Goods and Services Tax (GST) on penal charges on loans. Penal charges are payments in the ...

LEADERSHIP recalls that the Tax Appeal Tribunal awarded MTN a principal sum of $71 million but did not grant the penalties and interest that FIRS had requested. However, dissatisfied with the TAT ...

H&R Block also provides refund advance loans of up to $3,500 when you e-file a tax return at a participating H&R Block office. Similarly, you won't pay any interest or fees, but you'll need some ...

Arbitration is a widely-used method for settling disputes between parties. During arbitration, parties submit their dispute to an impartial third person or party, usually chosen by the parties.

In its circular, the RBI directed regulated entities to replace “penal interest” with “penal charges” for borrowers who Topics : Goods and Services Tax Banks NBFCs Finance Ministry What you get on BS ...

Goods and Services Tax (GST) will not be applicable on penal charges levied by banks and non-banking finance companies (NBFCs), the CBIC has said. The Central Board of Indirect Taxes and Customs (CBIC ...

Advance tax is a type of tax payment that is made in instalments based on the projected income for the year rather than paying the entire tax bill at the end of the year. Anyone with an expected tax ...

On Friday, a state Senate panel advanced a bill to include messaging on drop boxes about criminal penalties for tampering with them. Senate Bill 5011 would require each visible side of ballot ...

It is important to pay advance tax before the last advance tax dates. Examples of such additional income could include capital gains on shares or house property, interest on investments, etc. All ...

You can make a request to the CRA to cancel or waive penalties or interest if you are unable to meet your tax obligations due to circumstances beyond your control.

The NBR issued a notification on January 20, 2025, reducing the existing customs duty (CD) on air purifier imports from 25% to 10% and completely exempting them from paying 3% regulatory duty (RD) and ...