CAclubindia News


Union Govt Releases Rs 1.78 Lakh Crore Tax Devolution to States, Including Advance Instalment Ahead of Festive Season

   11 October 2024 at 09:18

Union Government releases tax devolution of ₹1,78,173 crore to State Governments, including one advance instalment of ₹89,086.50 crore in addition to regular instalment due in October, 2024

Posted in Income Tax |   354 Views


Union Minister Pankaj Chaudhary Inaugurates GST Bhawan in Delhi, Highlights Simplified Tax Compliance Initiatives

   11 October 2024 at 09:17

Union Minister of State for Finance Shri Pankaj Chaudhary inaugurated the state-of-the-art Goods and Services Tax (GST) office building in Nangal Raya, Delhi

Posted in GST |   639 Views


Bombay HC Upholds Tax Exemption on Anonymous Donations to Shirdi Sai Baba Trust

   11 October 2024 at 09:03

In a significant ruling, the Bombay High Court on Tuesday upheld the exemption granted to Shree Sai Baba Sansthan Trust, Shirdi, for anonymous donations received under the Income Tax Act.

Posted in Income Tax |   735 Views


CBIC Updates Penal Provisions in Form GST INS-01 in Line with Bharatiya Nyaya Sanhita, 2023

   11 October 2024 at 09:01

In a major update to the penal provisions for inspection and search operations under the GST regime, the CBIC, through Notification No. 20/2024 - Central Tax dated October 08, 2024, has made a crucial substitution in FORM GST INS-01.

Posted in GST |   801 Views


CBIC Notifies Prohibiting Consolidated Invoices for Supplies Under RCM

   11 October 2024 at 08:59

CBIC has introduced a significant update under the Central Goods and Services Tax (Second Amendment) Rules, 2024, which restricts the issuance of consolidated invoices for supplies covered under the RCM.

Posted in GST |   9030 Views


CBIC Notifies New GST Forms for Cancellation and Suspension of GST Registration

   10 October 2024 at 14:35

The Central Board of Indirect Taxes and Customs (CBIC), through the Central Goods and Services Tax (Second Amendment) Rules, 2024, has introduced key changes in procedures related to the cancellation and suspension of GST registration.

Posted in GST |   4185 Views


CBIC Updates Form GSTR-9: ITC as per GSTR-2A Replaced with GSTR-2B

   10 October 2024 at 14:34

The Central Board of Indirect Taxes and Customs (CBIC), through Notification No. 20/2024 – Central Tax issued on October 8, 2024, has implemented a key amendment to FORM GSTR-9 under the Central Goods and Services Tax (CGST) Rules, 2017.

Posted in GST |   9324 Views


CBIC Sets Deadline for Filing Form GSTR-7: 10th of Next Month Starting 1st Nov 2024

   10 October 2024 at 14:32

In a recent development, the CBIC has issued Notification No. 20/2024 - Central Tax on October 08, 2024, introducing a significant change to Rule 66 of the Central Goods and Services Tax (CGST) Rules.

Posted in GST |   684 Views


CBIC Introduces New Rule 164 for Waiver of Interest and Penalties in GST Proceedings

   10 October 2024 at 09:20

The Central Board of Indirect Taxes and Customs (CBIC) has issued Notification No. 20/2024 – Central Tax on October 8, 2024, which brings new changes under Rule 164 of the GST rules, effective from November 1, 2024.

Posted in GST |   5148 Views


CBIC Notifies Reduction in Pre-Deposit Requirement for GST Appeals Effective 1st Nov 2024

   10 October 2024 at 09:19

The Central Board of Indirect Taxes and Customs (CBIC), through Notification No. 20/2024 – Central Tax dated October 8, 2024, has introduced a significant amendment to the pre-deposit requirements for filing appeals under GST framework

Posted in GST |   2667 Views



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