CAclubindia News

GST Payments via UPI, Cards Now Available in Punjab & Uttarakhand; Canara Bank Added as New Payment Gateway

05 October 2024 at 09:16

In a recent update issued by the GSTN on October 4, 2024, businesses and taxpayers in Punjab and Uttarakhand can now conveniently make GST payments using UPI, Debit, and Credit Cards.

Posted in GST | 384 Views

DGGI Sends Over 300 Show-Cause Notices to Top Company Executives for Wrongful Availment of ITC

05 October 2024 at 09:15

The Directorate General of Goods and Services Tax Intelligence (DGGI) has issued more than 300 show-cause notices to promoters, directors, and senior management of various companies for allegedly wrongfully availing Input Tax Credit (ITC).

Posted in GST | 1350 Views

GSTN Issues Advisory on Proper Entry of RR No./Parcel Way Bill in EWB System After EWB-PMS Integration

05 October 2024 at 09:14

Guidance for Accurate Entry of RR No./Parcel Way Bill (PWB) Numbers following the Integration of E-Way Bill (EWB) with Parcel Management System (PMS)

Posted in GST | 411 Views

CBIC Issues Key Instruction on Systemic Improvements for Officer Mapping/De-Mapping on GSTN Portal

05 October 2024 at 09:14

The Central Board of Indirect Taxes and Customs (CBIC), via Instruction No. 04/2024-GST dated October 4, 2024, has announced significant systemic improvements to streamline the mapping and de-mapping of officers on the GSTN portal.

Posted in GST | 1383 Views

FM Sitharaman Directs IT Dept to Review Lost Cases at High Courts, Supreme Court for Key Insights

04 October 2024 at 09:15

Union Finance Minister Nirmala Sitharaman has directed the Income Tax Department to analyze court cases it has lost over the past decade to derive lessons and minimize litigation disputes, official sources reported on Monday.

Posted in Income Tax | 1941 Views

CBDT Issues Procedure for Declaration and Undertaking in Form-1 under Direct Tax Vivad Se Vishwas Rules, 2024

04 October 2024 at 09:14

CBDT, through the Directorate of Income Tax (Systems), Bengaluru, has issued an important procedure for taxpayers making declarations and furnishing undertakings in Form-1 under Rule 4 of the Direct Tax Vivad Se Vishwas Rules, 2024.

Posted in Income Tax | 2040 Views

Supreme Court Allows GST ITC on Construction Costs for Buildings Essential for Rental Services

04 October 2024 at 09:12

On October 3, 2024, the Supreme Court ruled that buildings essential for supplying services such as renting may qualify for the "plant" exception under Section 17(5)(d) of the Central Goods and Services Tax (CGST) Act.

Posted in GST | 5223 Views

ICAI Extends MEF 2024-25 Submission Deadline to October 21

04 October 2024 at 09:11

ANNOUNCEMENT FOR EXTENSION OF LAST DATE FOR SUBMITTING MEF 2024-25 FROM 07th OCTOBER TO 21st OCTOBER, 2024

Posted in Professional Resource | 3996 Views

Major Win for Tax Department: Supreme Court Ruling to Impact 90,000 Reassessment Notices

03 October 2024 at 15:25

In a landmark decision, the SC ruled on Thursday that the Income Tax Act must be interpreted with the amended provisions effective from 1st April 2021. This ruling directly impacts approximately 90,000 reassessment notices

Posted in Income Tax | 6438 Views

CBDT Issues Circular on Condonation of Delay for ITR Refunds and Loss Carry Forward Claims

03 October 2024 at 09:05

CBDT issued Circular No. 11/2024 on October 1, 2024, establishing new guidelines for condoning delays in filing income tax returns (ITRs) claiming refunds or carrying forward losses under Section 119(2)(b) of the Income-tax Act, 1961

Posted in Income Tax | 2 comments | 18873 Views