CAclubindia News

ICAI to Host Multipurpose Empanelment Form (MEF) for the year 2024-25

18 September 2024 at 09:04

Professional Development Committee (PDC) is pleased to host the Multipurpose Empanelment Form (MEF) for the year 2024-25, which is available at https://meficai.org/.

Posted in Professional Resource | 315 Views

FM Sitharaman Confirms No Tax Rate Reductions for Old Tax Regime

17 September 2024 at 11:25

In a recent address at an event, Finance Minister Nirmala Sitharaman reaffirmed that the government will not be reducing tax rates under the old tax regime. This statement comes in response to ongoing calls from taxpayers for similar rate reductions

Posted in Income Tax | 2829 Views

Banking Liquidity Set to Decline Amid Advance Tax and GST Outflows This Week

17 September 2024 at 09:11

The banking system, after enjoying a liquidity surplus for over two months, is expected to move into deficit this week due to advance tax payments and GST outflows, according to market experts. As of Thursday, the liquidity surplus stood at Rs 1.96 t

Posted in Others | 327 Views

GST Council Forms GoM to Review Tax Rates on Health and Life Insurance Premiums

17 September 2024 at 09:08

The GST Council on Sunday formed a 13-member Group of Ministers (GoM) to recommend changes to the Goods and Services Tax (GST) rates on health and life insurance premiums.

Posted in GST | 1992 Views

GST Evasion Doubles to Rs 2.01 Lakh Crore in FY24; Mumbai Leads in Detection

17 September 2024 at 09:06

According to the DGGI's latest annual report, Mumbai topped the charts with the highest GST evasion of Rs 70,985 crore, followed by Delhi (Rs 18,313 crore), Pune (Rs 17,328 crore), Gurugram (Rs 15,502 crore), and Hyderabad (Rs 11,081 crore).

Posted in GST | 1818 Views

Govt May Establish Panel to Enforce Regulatory Compliance for Online Gaming Platforms

17 September 2024 at 09:04

In a bid to curb the rapid proliferation of online gaming platforms and ensure regulatory compliance, the Directorate General of GST Intelligence (DGGI) has proposed the establishment of an inter-departmental committee.

Posted in GST | 1521 Views

GST Evasion Surges to Rs 2.01 Lakh Crore in FY24

16 September 2024 at 09:09

In the 2023-24 fiscal year, the Directorate General of GST Intelligence (DGGI) detected a staggering Rs 2.01 lakh crore in GST evasion across 6,084 cases, according to the agency's annual report.

Posted in GST | 2190 Views

3 Mumbai Businessmen Arrested in GST Fraud: Fake ITC Claims via 8 Shell Companies

16 September 2024 at 09:07

In a major crackdown on fraudulent Input Tax Credit (ITC) claims, the Central Goods and Services Tax (CGST) Palghar Commissionerate has uncovered a fake ITC racket amounting to Rs. 59.11 crore.

Posted in Income Tax | 4713 Views

Rs 1,400 Crore GST Evasion: Former Chief Secretary Somesh Kumar Under CID Scrutiny

16 September 2024 at 09:02

The Crime Investigation Department (CID) is getting ready to interrogating some of the officials of the commercial taxes department including the former Chief Secretary Somesh Kumar in connection with a GST scam.

Posted in GST | 2700 Views

Zomato to Challenge Rs 5.6 Crore GST Demand from West Bengal Government

16 September 2024 at 09:01

On September 14, Zomato announced its intention to appeal a recent GST order from the West Bengal government, which demands a total of Rs 5.6 crore for the period from April 2020 to March 2021.

Posted in GST | 393 Views