CAclubindia News

CBDT Notifies Key Changes to Forms 10A and 10AB

17 October 2024 at 09:00

The Central Board of Direct Taxes (CBDT) has announced significant amendments to the Income-tax Rules through Notification No. 111/2024, dated October 15, 2024.

Posted in Income Tax | 1761 Views

ITC Reversals Under Rule 37A in September GSTR-2B Due to Non-Filing of GSTR-3B by Vendors

17 October 2024 at 08:56

Taxpayers are now seeing reversals required under Rule 37A reflected in their September GSTR-2B, showing the Input Tax Credit (ITC) that must be reversed due to the non-filing of GSTR-3B by suppliers for FY 2023-24.

Posted in GST | 10620 Views

New ITR E-Filing Portal 3.0 to Launch Soon: IT Dept Invites Suggestions

17 October 2024 at 08:55

The Income Tax Department is gearing up to introduce a new and improved e-filing portal, as part of Project IEC 3.0, to replace the current platform (IEC 2.0). ..

Posted in Income Tax | 1752 Views

CBDT Frees 1 Lakh Sq. Ft, Earns Revenue from Scrap in Special Campaign 4.0 Cleanliness Drive

17 October 2024 at 08:54

The Central Board of Direct Taxes (CBDT), in collaboration with the field units of the Income Tax Department, is actively implementing Special Campaign 4.0

Posted in Income Tax | 258 Views

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 | 1 comments | 2913 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 | 1 comments | 2280 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 | 1812 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 | 3705 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 | 396 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 | 255 Views