CAclubindia News

Gross GST Collection Soars to Rs 14.97 Lakh Crore, Registers 12% Y-o-Y Growth from April to Dec 2023

02 January 2024 at 09:07

Posting a growth rate of 12% Y-o-Y, Rs 14.97 lakh crore gross GST collection during April-December 2023 period

Posted in GST | 5070 Views

Income Tax Department Sends Alerts to 3 Million Taxpayers Over TDS-Refund Mismatch

01 January 2024 at 08:14

The Income Tax (IT) department has escalated its scrutiny by sending alerts to approximately 3 million salaried taxpayers, drawing attention to disparities between Tax Deducted at Source (TDS) and refunds claimed in their revised tax returns.

Posted in Income Tax | 8694 Views

GSTN Issues Advisory on Functionalities available on the portal for GTA Taxpayers

01 January 2024 at 08:13

Functionalities made available on the portal for the GTA Taxpayers

Posted in GST | 5895 Views

ICAI President's New Year Message: Reflecting on Achievements and Envisioning a Prosperous Future

01 January 2024 at 08:11

The accounting profession’s deep reach into the MSME sector positions it as a trusted business advisor, providing a conducive ecosystem for start-up development in India.

Posted in Professional Resource | 4725 Views

Over 8.18 Crore ITRs Filed for AY 2023-24

30 December 2023 at 17:52

In a groundbreaking achievement, the Income-tax Department has marked a historic milestone by receiving over 8 crore Income Tax Returns (ITRs) for the Assessment Year 2023-24, setting a new record and surpassing all previous filing statistics.Unveili

Posted in Income Tax | 3540 Views

Revised Interest Rates Announced on Small Savings Schemes for Q4 2023-24

30 December 2023 at 16:11

The Ministry of Finance has recently announced revisions to the interest rates on various Small Savings Schemes for the fourth quarter of the financial year 2023-24. These changes, set to take effect from January 1, 2024, and extend through March 31,

Posted in Community & General | 4713 Views

ICICI Bank and Kotak Mahindra Bank Face Hefty GST Demand Notices

30 December 2023 at 09:15

ICICI Bank Challenges ₹24.37 Crore Demand Notice with ₹2.43 Crore Penalty in Tamil Nadu. Kotak Mahindra Bank Faces ₹57.20 Lakh Demand Notice with ₹5.1 Lakh Penalty in Odisha

Posted in GST | 2610 Views

GST Council Grants Tax Officials Additional Time for FY19 and FY20 Dues Recovery

30 December 2023 at 09:13

In a recent development, the Goods and Services Tax (GST) Council has taken a significant step by extending the deadline for tax officials to pursue and recover outstanding tax dues from businesses for the financial years 2019 (FY19) and 2020 (FY20).

Posted in GST | 5394 Views

GSTN | Date extended for reporting opening balance for ITC reversal

30 December 2023 at 09:12

Advisory: Date extension for reporting opening balance for ITC reversal1. In order to facilitate the taxpayers in correct and accurate reporting of ITC reversal and reclaim thereof and to avoid clerical mistakes, a new ledger namely Electronic Credi

Posted in GST | 9384 Views

Year in Review 2023: CBIC's Pivotal GST System Upgrades

29 December 2023 at 09:30

The Central Board of Indirect Taxes and Customs (CBIC), Department of Revenue, Ministry of Finance, has achieved significant milestones in enhancing the efficiency and integrity of the Goods and Services Tax (GST) system.

Posted in GST | 7014 Views