Withdrawal of Lower or Nil GST Rates for Government Authority or Government Entity
Effective from 1st January, 2022, the lower and Nil GST rate as available for supply of “Composite supply of works contract” [section-2(119) of CGST Act, 2017] to a Government Authority or a Government Entity is withdrawn and hence, from the effective date, following services, will be taxed at 18% if no other, specific rate or […]
Opening of Current Accounts by Banks
Recently, RBI has issued revised guidline with respect to the opening of the current accounts by Banks. On a review and taking into account feedback received from Indian Banks’ Association (IBA) and other stakeholders, it has been decided that banks may open current accounts for borrowers who have availed credit facilities in the form of […]