Virtual Digital Assets

Budget 2022 was an interesting Budget. There were different expectations from various stakeholders of the Indian Economy. While Salaried individuals expect an increase in the threshold limit of deductions available under Section 80C, 24(b), HRA and the like, business class expect operational reforms in the areas pertaining to indirect taxes. While MSMEs expect increased support…

HSN/SAC update under GST regime

The Central Board of Indirect Taxes (CBIC) issued Notification No. 12/2017-Central Tax dated June 28, 2017, to show specified digits of Harmonised System of Nomenclature (HSN)/ Service Accounting Code (SAC) Code on raising of tax invoices for supply of goods or services as under: S. No.Aggregate Turnover in the preceding Financial YearNumber of Digits of HSN Code1.Upto…