tax

Online streaming major Netflix to file an appeal before the income tax appellate tribunal against the Rs 196 crore tax demand raised by the taxmen over alleged tax evasion. Netflix's move comes after the Dispute Resolution Panel (DRP) allowed the tax demand raised by its international taxation wing. The IT department had contended that Netflix Entertainment Services LLP acted as a dependent agent permanent establishment (DAPE) of Netflix.

The "Dog Tax" was announced by government officials in Prayagraj, Uttar Pradesh. Depending on the type of dog, pet owners may be required to pay more than Rs.100. The Municipal Corporation formerly charged a levy of Rs.500 on costly breed dogs and Rs.200 on locally bred canines. Now citizens will be required to pay around Rs.630 annually. A license would also be required to keep a pet dog at home. 

India has reduced the basic import costs of crude and refined palm oil while increasing the price of crude soy oil, according to a government statement issued late on May 31. Every two weeks, the government updates the basic import prices for edible oils, gold, and silver, which compute the amount of tax an importer must pay. India permitted duty-free imports of 2 million tonnes of soy oil last week. 

Madhya Pradesh Chief Minister Shivraj Singh Chouhan, on March 24, announced to cancel tax on wheat exported from the state. In addition, the exporters can now buy wheat from mandis or farmers directly, informed the CM. “Railway Board has assured us to provide racks for wheat export,” he further added. Currently, India is holding conversations with countries such as Egypt, China, Nigeria, and other countries to export wheat.

Veterans of Karnataka's Alcohol Beverages Industry, in a press release, urged the government to revise the excise duties on liquor. The press release further claimed that the current excise duty rates make the cheap segments "cheaper" and premium segments more "expensive". "By imposing additional excise duty on spirits and beer, Karnataka government is putting additional burden on consumers," said Bishan Kumar, Editor-in-chief of Spiritz… read-more