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RBI hikes repo rate by 35 basis points to 6.25%
07 December 2022 at 10:27The Reserve Bank of India (RBI) raised its key lending rate by 35 basis points on Wednesday as inflation continues to stay above the central bank's tolerance band.
ITR of deceased can be considered computing annual income for grant of motor accident compensation
07 December 2022 at 09:40The Supreme Court on Tuesday (6th Dec 2022) ruled that, while calculating annual income for grant of motor accident compensation, the courts can consider the Income Tax Return of the deceased.
GST council likely to consider decriminalisation of GST law in 17th Dec Meet
06 December 2022 at 08:40The GST Council in its next meeting is likely to discuss the decriminalisation of offences under GST law, along with raising the threshold of launching prosecution to Rs 20 crore from Rs 5 crore at present, officials said on Monday.
FM Nirmala Sitharaman inaugurates DRI's 65th Founding Day Celebrations
06 December 2022 at 08:40The Directorate of Revenue Intelligence (DRI), the apex anti-smuggling intelligence and investigation agency functioning under the aegis of the Central Board of Indirect Taxes and Customs (CBIC), celebrated its 65th Foundation Day at New Delhi.
ICAI releases Handbook on Annual Return under GST
05 December 2022 at 14:49Handbook on Annual Return under GST
Amendments related to CCI, IBC and Companies Act likely to be discussed in Budget 2023 session
05 December 2022 at 08:32During the Budget 2023-24 presentation, there will likely be discussions on three major amendments in the parliament.
3 booked in Ludhiana for attempt to use fake documents for GST registration
05 December 2022 at 08:32Sumandeep Kaur, assistant commissioner, Ludhiana Zone 4, who filed the complaint, stated that the GST department had received three online registration applications for GST registration
IT Department issues updated list of banks for tax payments
03 December 2022 at 08:39List of banks for tax payments available at e-Pay Tax service at e-Filing Portal and OLTAS ePayment of Taxes at Protean (previously NSDL)
Computation of ITC updated by GSTN based on returns filed by suppliers upto 30th Nov 2022
02 December 2022 at 08:39GSTN has updated the below instructions on GST Portal Annual return in Form GSTR-9 once filed cannot be revised. Computation of ITC has been made based on GSTR-1/IFF/GSTR-5 filed by your corresponding suppliers upto November 30, 2022. GSTR-1/IFF/GSTR
IT department moves to resolve tax refund issues quickly
02 December 2022 at 08:39The income-tax department has issued instructions to ensure taxpayer grievances about adjustment of tax dues against pending refunds are resolved quickly to check avoidable litigation.
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