CAclubindia News

Star Health and Allied Insurance Faces Rs 39 Crore GST Notice

11 October 2023 at 08:37

Star Health and Allied Insurance Company found itself in the spotlight as it received a significant notice from the Directorate General of GST Intelligence (DGGI) concerning a tax liability amounting to ₹38.99 crore.

Posted in GST | 2898 Views

GST Council to Address ITC Issue for Life Insurers, Easing LIC's Rs 290 Crore Demand

11 October 2023 at 08:36

In a recent development, the GST Council is gearing up to provide much-needed clarity on the input tax credit for life insurers, particularly in the context of a substantial demand of Rs 290 crore made on the Life Insurance Corporation (LIC).

Posted in GST | 3063 Views

Direct Tax Collections Surge by Nearly 18% in FY 2023-24

11 October 2023 at 08:36

Direct Tax Collections for F.Y. 2023-24 up to 9th October, 2023 show an increase over comparable period of last year

Posted in Income Tax | 2583 Views

Madras High Court Adjourns Actor Vijay's Writ Petition Against Income Tax Penalty

10 October 2023 at 16:27

The Madras High Court, on Tuesday, deferred its decision on the writ petition filed by popular actor C. Joseph Vijay against the Income Tax Department's penalty order.

Posted in Income Tax | 8541 Views

Income Tax Department's E-Flyer Urges Public to Avoid Cash Transactions, Clarifies Transaction Limits

10 October 2023 at 08:51

In a move aimed at promoting transparency and discouraging the use of cash transactions in financial dealings, the Income Tax Department has recently released an informative E-Flyer.

Posted in Income Tax | 20253 Views

Clarification on Audit Report Requirements for Substantial Contributors in AY 2023-24

10 October 2023 at 08:50

In a significant development, the Central Board of Direct Taxes (CBDT) issued Circular No. 17/2023 on October 09, 2023, shedding light on crucial audit report requirements under Section 119 of the Income-tax Act, 1961.

Posted in Income Tax | 16749 Views

CBI Nabs 4 GST Officials Demanding Bribe to Clear Erroneous Notices

10 October 2023 at 08:49

The Central Bureau of Investigation (CBI) apprehends two superintendents, an inspector, and a tax assistant involved in a bribery scandal targeting a LIC agent over alleged false GST notices.

Posted in GST | 7506 Views

Reliance General Insurance Faces GST Notices Worth Rs 922 Crore from DGGI

09 October 2023 at 08:44

In a significant development, the Directorate General of GST Intelligence (DGGI) has sent four show cause notices to Reliance General Insurance Company (RGIC), totaling ₹922.58 crore in Goods and Services Tax (GST) dues.

Posted in GST | 7497 Views

Income Tax Department to Refund Rs 190 Crore with Interest to Vedanta for AY 2021-22

09 October 2023 at 08:37

In a significant development, the Income Tax department has announced its decision to refund Rs 190 crore to the Anil Agarwal-controlled mining conglomerate Vedanta, along with accrued interest, for the assessment year 2021-22.

Posted in Income Tax | 29127 Views

All States Adopt 28% GST on Online Money Gaming from 1st Oct 2023

09 October 2023 at 08:35

Revenue Secretary Sanjay Malhotra provides clarity on GST implementation timeline during GST Council meeting

Posted in GST | 3969 Views