Tag: FCRA

Business

Non-FCRA listed NGOs could must pay tax on international oxygen system presents

Indian non-profit organisations and people getting oxygen concentrators as presents from abroad could find yourself paying items and companies tax and customs obligation on them despite the fact that the federal government has supplied reduction on the gadgets, that are briefly provide throughout the ongoing second Covid-19 wave. The federal government has waived built-in GST and customs obligation on oxygen concentrators which can be gifted from abroad or imported. Nevertheless, consultants stated many firms and non-profit organisations with out an FCRA licence should still be liable to pay these taxes. The International Contribution (Regulation) Act is triggered within the case of non-profit establishments, consultants stated. Solely non-profit entities with a sound FCRA registration can...