CAclubindia News

CBDT Revises Rules 10TA and 10TD, Redefining Intra-Group Loan with Safe Harbour Guidelines

22 December 2023 at 15:37

The Central Board of Direct Taxes (CBDT) recently issued the Income-tax (Twenty-Ninth Amendment) Rules, 2023, amending Rules 10TA and 10TD of the Income Tax Rules, 1962.

Posted in Income Tax | 2607 Views

Rajya Sabha Passes Bill Establishing GSTAT with Age Cap Adjustments

22 December 2023 at 07:14

The Rajya Sabha granted approval on Wednesday to a crucial bill aimed at facilitating the establishment of Goods and Services Tax (GST) appellate tribunals (GSTAT).

Posted in GST | 2568 Views

Parliament passes Provisional Collection of Taxes Bill, 2023 for Immediate Customs and Excise Duty Changes

22 December 2023 at 07:12

Parliament approved the Provisional Collection of Taxes Bill, 2023 on Wednesday, ushering in a mechanism for the provisional enforcement of changes in customs and excise duties as outlined in the Budget, effective from midnight.

Posted in Custom | 5271 Views

GST Council Warns Businesses Against Scams with New Advisory

22 December 2023 at 07:10

A recent advisory, aptly named the "GST Fraud Advisory," serves as a stern warning to GST-registered businessmen

Posted in GST | 2058 Views

GST Council Contemplates Raising Registration Threshold to Rs 60 Lakh: FM Sitharaman

22 December 2023 at 07:09

In a comprehensive discussion held in the Rajya Sabha on Wednesday, Finance Minister Nirmala Sitharaman responded to Parliamentarians' queries and suggestions, notably addressing the proposed Central Goods and Services Tax (Second Amendment) Bill, 2023.

Posted in GST | 9423 Views

Trader held for Rs 68 crore GST evasion

22 December 2023 at 07:08

CGST's Preventive Department in Rajkot Nabs Brass and Copper Scrap Trader in Jamnagar for Alleged Rs 67.72 Crore Tax Evasion

Posted in GST | 2823 Views

Deadline Extended for GSTR-3B Filing in Specific Tamil Nadu Districts for Nov 2023

21 December 2023 at 07:03

The Central Board of Indirect Taxes and Customs (CBIC) has issued Notification No. 55/2023 – Central Tax dated December 20, 2023, announcing an extension for the filing of FORM GSTR-3B for November 2023.

Posted in GST | 8469 Views

Income Tax Department Urges Taxpayers to File ITRs for AY 2023-24

21 December 2023 at 07:01

The Income Tax Department has issued an update, stating that the last date to file the return of income for the Assessment Year 2023-24 (Financial Year 2022-23) under section 139(4) or 139(5) of the Income Tax Act is December 31, 2023.

Posted in Income Tax | 2922 Views

FM Affirms Prospective Implementation of Valuation Rules for GST on E-Gaming Platforms

21 December 2023 at 07:00

Finance Minister Nirmala Sitharaman addressed the Lok Sabha on Tuesday, providing clarity on the application of the 28% Goods and Services Tax (GST) on entry-level bets on online gaming platforms.

Posted in GST | 3705 Views

Uttarakhand GST Department files 3,500-page charge sheet in illegal timber trade case

21 December 2023 at 06:58

The Special Investigation Bureau (SIB) of the Uttarakhand GST department has recently filed a comprehensive 3,500-page charge sheet against Shahnawaz Hussain, the alleged mastermind behind a large-scale illegal timber trade operation.

Posted in GST | 2484 Views