On 27th July the Reserve Bank of India (RBI) clarified that banknotes with a star (*) symbol are legal and valid currency.
CBDT, Foreign Tax & Tax Research Division has issued vide F. No. 500/34/2019-FT&TR-III(Pt.)/1 dated July 26, 2023 issued clarification in respect of Rule 114F (5) of the Income Tax Rules, 1962.
CBDT issued Circular No. 13/2023 dated July 26, 2023 regarding condonation of delay in filing returns of income claiming deduction under section 80P of the IT Act for various assessment years from AY 2018-19 to AY 2022-23.
DGGI Meerut officials bust racket involving 246 fake entities with turnover of Rs. 3,242 crore involving ITC of Rs. 557 crore, three held
Indian government detected a significant amount of evasion in goods and services tax (GST) over the last five years, amounting to Rs 3.33 lakh crore.
Tax authorities in India have identified nearly 15,000 entities involved in fraudulent activities related to GST and detected evasion of over Rs 38,000 crore over the years.
Central Information Commission upheld the CPIO's response and clarified that the requested information was not available with the department. The Commission suggested that Mr. Paulraj should explore other appropriate avenues to address his concerns.
It appears that the GST Council in India is likely to hold an unscheduled meeting on August 2 to address the issue of tax treatment on real-money games played on online gaming platforms
This is a tragic incident involving the death of a truck driver, Balbir Singh, outside the State Goods Service Tax (SGST) office in Kanpur.
CBIC Chairman, Vivek Johri, clarified that there is no reverse flow of information that will happen after bringing the Goods and Service Tax Network (GSTN) under the ambit of the PMLA.
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