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DGGI Unveils Staggering 119% Surge in Duty Evasion Cases for 2023, totaling Rs 1.98 Lakh Crore
12 January 2024 at 14:08In 2023, DGGI detected 6,323 cases involving evasion of duty of Rs. 1,98,324 crore; 119% increase in detecting cases Year-on-Year
Direct Tax Collections Soar: 80.61% of Budget Estimates Achieved in FY 2023-24
12 January 2024 at 11:36Gross Direct Tax collections at Rs. 17.18 lakh crore with Y-o-Y growth of 16.77%, as on 10th January, 2024
CBIC unveils 'Samay' app to expedite tax appeal resolution and reduce litigation time
12 January 2024 at 09:11In a significant move to enhance efficiency and reduce the time taken for tax appeals, the Central Board of Indirect Taxes & Customs (CBIC) is set to roll out a new mobile application named 'Samay.'
IT Dept conducts search operations in Mumbai engaged in the manufacturing of electrical items
12 January 2024 at 09:10Income Tax Department initiated search and seizure operations in the case of a group, engaged in the manufacturing of wires and cables and other electrical items on 22.12.2023.
Income Tax Department Mandates LEI for Non-Individuals with Refunds over Rs 50 Crore
11 January 2024 at 09:18In a recent announcement, the Income Tax Department has introduced a new requirement for non-individual entities regarding the Credit of Refunds exceeding Rs. 50 crore.
Assessment Year 2024 Poised for a 20% Drop in Late-Filed ITRs, Reveals Latest Report
11 January 2024 at 09:17The State Bank of India's recent report on income tax filings reveals a significant uptick in the number of individuals filing income tax returns in the assessment year 2022-23 (AY23).
Withdrawal of E-Way Bill Generation Restriction Without e-Invoice/IRN
10 January 2024 at 16:33As of January 10, 2023, the earlier decision to restrict the creation of E-Way Bills exclusively to those accompanied by e-Invoice/IRN has been reversed, as per the recent update in the GST E-way bill system.
17th ICAI Awards Ceremonial Triumph: Recognizing Excellence and Innovation in Accountancy
10 January 2024 at 08:59ICAI had instituted ICAI Awards in the year 2007 to honour and acknowledge the exemplary achievements of its members who have attained exceptional levels of professional achievements in industry and business and are committed towards their goals.
CBIC Seeks Stakeholder Insights on Harmonizing GST Rate Schedule and Service Classification
10 January 2024 at 08:53As per Notification No. 12/2017-Central Tax dated June 28, 2017, as amended by Notification No. 78/2020-Central Tax dated October 15, 2020, taxpayers having turnover up to Rs. 5 Crore
Resolve GSTR-1 Errors with Updated E-commerce Data in Table 8 for Error-Free Summaries
10 January 2024 at 08:53Goods and Services Tax Return (GSTR) process undergoes a significant enhancement with the redesign of Table 8, specifically addressing the declaration of e-commerce data.
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