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CBIC Issues Clarification on Implementation of Section 16(5) & 16(6) of CGST Act 2017

   16 October 2024 at 09:11

The Central Board of Indirect Taxes and Customs (CBIC) has issued a significant clarification concerning the implementation of sub-section (5) and sub-section (6) of Section 16 of the Central Goods and Services Tax (CGST) Act, 2017.

Posted in GST |   510 Views


CBIC Issues Clarification of various doubts related to Section 128A of the CGST Act 2017

   16 October 2024 at 09:06

The Central Board of Indirect Taxes and Customs (CBIC) has issued an important clarification regarding various doubts related to Section 128A of the Central Goods and Services Tax (CGST) Act, 2017.

Posted in GST |   1302 Views


New 'GSTN e-Services' App Launches on Play Store to Simplify GST Transaction Tracking for Traders and Businesses

   16 October 2024 at 09:05

The Goods and Services Tax Network (GSTN) has introduced a new 'GSTN e-Services' app, now available on the Play Store, aimed at simplifying tax compliance for traders, businesspersons, and merchants.

Posted in GST |   987 Views


Income Tax Department to Verify 'High-Risk' Refund Claims for AY 2024-25 Using SOP

   16 October 2024 at 09:05

The Income Tax Department will implement a systematic process to verify 'high-risk' refund claims filed for the assessment year (AY) 2024-25, which corresponds to the financial year ending March 31, 2024.

Posted in Income Tax |   2205 Views


Carmakers Face Rs 10,000 Crore GST Compensation Cess Notices for Utility Vehicles

   16 October 2024 at 09:04

Several top automakers, including Mahindra, Tata Motors, Hyundai, and Maruti, have received tax notices for unpaid compensation cess on utility vehicles sold prior to 2022.

Posted in GST |   198 Views


DGGI Nears Completion of Pre-GST Tax Evasion Probes, to Disband Dedicated Unit Soon

   16 October 2024 at 09:03

The Directorate General of GST Intelligence (DGGI) is set to wrap up its investigations into pre-GST tax evasion cases, which predominantly pertain to service tax and central excise.

Posted in GST |   81 Views


CBIC Urges App-Based Ride-Hailing Firms to Clarify GST Applicability on Booked Rides

   16 October 2024 at 09:03

The Central Board of Indirect Taxes & Customs (CBIC) has given app-based ride-hailing companies one week to submit their written views regarding the applicability of GST on rides booked through their platforms.

Posted in GST |   171 Views


CBDT issues FAQs on Direct Tax Vivad Se Vishwas Scheme 2024 to provide clarity

   16 October 2024 at 09:02

In order to facilitate the various queries raised by the stakeholders following the enactment of the DTVSV Scheme, 2024, the CBDT has today issued a Guidance Note in the form of Frequently Asked Questions (FAQs).

Posted in Income Tax |   1947 Views


GST Portal Introduces Auto-Populated ITC in GSTR-9 for FY 2023-24

   15 October 2024 at 15:19

Starting FY 2023-24, GST system will auto-populate eligible ITC for domestic supplies (excluding reverse charge and imports ITC) from table 3(I) of GSTR-2B to table 8A of GSTR-9.

Posted in GST |   540 Views


MCA Notifies Companies (Adjudication of Penalties) Second Amendment Rules, 2024

   15 October 2024 at 13:35

On October 9, 2024, the Ministry of Corporate Affairs (MCA) issued Notification No. G.S.R. 630(E), introducing the Companies (Adjudication of Penalties) Second Amendment Rules, 2024. This amendment further refines the existing framework for adjudicat

Posted in Corporate Law |   399 Views