CAclubindia News

GST Appellate Tribunals (GSTAT) Anticipated to Launch by July or August 2024

06 February 2024 at 07:51

In a recent interview, Revenue Secretary Sanjay Malhotra disclosed that the long-awaited Goods and Services Tax (GST) Appellate Tribunals, aimed at resolving taxpayer disputes within the indirect tax framework, are on the cusp of commencing operations.

Posted in GST | 4365 Views

RBI Ban on Paytm Payments Bank and Its Implications for FASTags

05 February 2024 at 09:24

Reserve Bank of India (RBI) has imposed restrictions on Paytm Payments Bank, prohibiting it from accepting deposits or top-ups in any customer account, including FASTags, after February 29, 2024.

Posted in Others | 1 comments | 6720 Views

Enhanced GST System Introduced with Innovative e-Invoice Portal

05 February 2024 at 09:20

The Government of India, in collaboration with States and Union Territories, has unveiled an upgraded Goods and Services Tax (GST) system, incorporating the advanced e-Invoice System.

Posted in GST | 1 comments | 5748 Views

GST Council Contemplates Pan-India Biometric Authentication Rollout for Registration, Says CBIC Chief

05 February 2024 at 09:18

In a significant move to combat fraudulent practices in GST registration, the GST Council is considering a proposal to make biometric-based Aadhaar authentication mandatory pan-India for individuals deemed suspicious, seeking GST registration

Posted in GST | 3168 Views

Budget 2024: CBDT Chairman Nitin Gupta Lauds Swift Tax Return Processing

05 February 2024 at 09:16

In a significant development, Nitin Gupta, Chairman of the Central Board of Direct Taxation (CBDT), has announced that the process of tax return filing has been streamlined, reducing the turnaround time to just 10 days. G

Posted in Union Budget | 2361 Views

Income Tax Dept Achieves Over Rs 1260 Crore TDS Collection on Online Gaming and Cryptocurrency Trade

05 February 2024 at 09:15

Government Gains INR 1,260 Crore Through Innovative TDS Framework on Online Gaming and Cryptocurrency Trade

Posted in Income Tax | 5202 Views

DGGI Unearths 1,700 Fraudulent ITC Cases Worth Rs 18,000 Crore; 98 Arrests in FY 2023-24

05 February 2024 at 09:14

DGGI detects 1,700 fraudulent ITC cases involving Rs. 18,000 crore with 98 arrests in Financial Year 2023-24 (up to December 2023)

Posted in GST | 2331 Views

Income Tax Department Notifies Higher TDS/TCS Rates for 'Inoperative' PANs

03 February 2024 at 09:23

The Income Tax Department has issued a crucial attention notice to Tax Deductors and Collectors, notifying them of the implications of PAN status marked as 'Inoperative' on TDS (Tax Deducted at Source) and TCS (Tax Collected at Source) rates.

Posted in Income Tax | 13179 Views

CBDT Extends Time for Processing E-Filed Returns with Refund Claims in Non-Scrutiny Cases

03 February 2024 at 09:22

CBDT has issued an order dated January 31, 2024, announcing an extension in the time-limit for processing non-scrutiny Income Tax Returns up to Assessment Year (AY) 2020-21.

Posted in Income Tax | 6357 Views

MSME Udyam Portal Unveils Effortless Verification Feature for Udyam Registration

03 February 2024 at 09:21

In a move aimed at enhancing transparency and facilitating compliance, the MSME Udyam Portal has rolled out a significant update introducing a user-friendly feature that allows seamless verification of Udyam Registration numbers.

Posted in Corporate Law | 4035 Views