CAclubindia News

CBIC Exempts Small Taxpayers with AATO up to 2 Crore from GSTR-9 Filing for FY 2022-23

02 August 2023 at 08:53

CBIC Notifies GSTR-9 Filing Exemption for FY 2022-23 for Small Taxpayers with AATO up to 2 Crore.

Posted in GST | 10365 Views

GST Council's 50th Meeting clarifies applicability of GST on certain services

02 August 2023 at 08:53

CBIC vide Circular No. 201/13/2023-GST dated August 01, 2023 has issued clarifications regarding the applicability of GST on certain services based on the recommendations of the GST Council in its 50th meeting held on July 11, 2023.

Posted in GST | 4098 Views

GST Council's 50th Meeting Clarifies Goods Classification and Rates

02 August 2023 at 08:52

The CBIC vide Circular No. 200/12/2023-GST dated August 01, 2023 has issued clarification regarding GST rates and classification of certain goods based on the recommendations of the GST Council in its 50th meeting held on July 11, 2023.

Posted in GST | 4128 Views

July 2023 GST Collection Smashes Records at Rs. 1,65,105 Crore, Surges 11% YoY

02 August 2023 at 08:51

₹1,65,105 crore gross GST revenue collected for July 2023; records 11% Year-on-Year growth

Posted in GST | 4296 Views

Over 6.77 Crore ITRs Filed by July 31, 2023, with Record 16.1% YoY Growth

02 August 2023 at 08:50

New record of over 6.77 crore Income Tax Returns (ITRs) filed till 31st July, 2023; record growth of 16.1% Year-on-Year

Posted in Income Tax | 2937 Views

Massive GST Evasion Unearthed: Rs 14,302 Crore Detected in April-May 2023

01 August 2023 at 14:22

In a written reply to the Lok Sabha on Monday, Finance Minister Nirmala Sitharaman said that GST evasion of Rs 14,302 crore was detected in the first two months of the current fiscal year, April-May 2023.

Posted in GST | 2964 Views

Final Extension of 2FA for Large Taxpayers until 20th Aug 2023

01 August 2023 at 08:52

The Mandatory 2 Factor Authentication (2FA) requirement for taxpayers with an Aggregate Annual Turnover (AATO) above 100 Crores has been extended until August 20, 2023

Posted in GST | 9054 Views

Over 4 Lakh Businesses to Issue E-invoices from 1st Aug 2023

01 August 2023 at 08:50

As of August 1, there will be a significant change in the mandatory e-invoicing requirements in India. The aggregate annual turnover threshold for issuing e-invoices will be lowered from ₹10 crore to ₹5 crore.

Posted in GST | 11298 Views

CBDT Issues SOP for Recomputation of Co-operative Sugar Manufacturers' Income u/s 155(19) of IT Act

31 July 2023 at 08:43

CBDT vide Circular No. 14 of 2023 dated July 27, 2023 issued SOP for making application for recomputation of total income of a co-operative society engaged in the business of manufacture of sugar, as provided for in the sub-section (19) of section 155

Posted in Income Tax | 2859 Views

IT Dept to Utilize AI Regression Model for Detecting Deviations: Tax Official

31 July 2023 at 08:42

The usage of artificial intelligence (AI) by the Income Tax department to build regression models is aimed at identifying deviations and errors in tax filing.

Posted in Income Tax | 30852 Views