CAclubindia News

Paytm Under ED Scrutiny for Betting and Money Laundering Allegations

07 February 2024 at 09:01

The Directorate of Enforcement (ED) has initiated a comprehensive investigation into Paytm dating back to 2021, revealing potential ties to money laundering and illicit betting activities, according to credible sources.

Posted in Income Tax | 4539 Views

GST Notices Surge Prompts Push for Risk-Based State Assessments

07 February 2024 at 09:00

India's corporate sector is currently grappling with a flood of show-cause notices regarding Goods and Services Tax (GST) payments, prompting a call for increased scrutiny and a shift towards risk-based assessments by state authorities.

Posted in GST | 2589 Views

Govt Accumulates Over Rs 600 Crore in Penalties for Delayed PAN-Aadhaar Linking

06 February 2024 at 15:15

In a recent disclosure to the Parliament, Minister of State for Finance Pankaj Chaudhary unveiled staggering figures regarding the ongoing issue of linking Permanent Account Numbers (PAN) with Aadhaar

Posted in Income Tax | 2988 Views

Revenue Secretary Vows to Curb GST Flexibility Abuse by Buyers and Sellers

06 February 2024 at 07:53

In a recent interview, Revenue Secretary Sanjay Malhotra unveiled the government's proactive stance towards curbing Goods and Services Tax (GST) evasion, emphasizing measures to prevent abuse of corrective flexibility granted to businesses.

Posted in GST | 2340 Views

GST Appellate Tribunals (GSTAT) Anticipated to Launch by July or August 2024

06 February 2024 at 07:51

In a recent interview, Revenue Secretary Sanjay Malhotra disclosed that the long-awaited Goods and Services Tax (GST) Appellate Tribunals, aimed at resolving taxpayer disputes within the indirect tax framework, are on the cusp of commencing operations.

Posted in GST | 4551 Views

RBI Ban on Paytm Payments Bank and Its Implications for FASTags

05 February 2024 at 09:24

Reserve Bank of India (RBI) has imposed restrictions on Paytm Payments Bank, prohibiting it from accepting deposits or top-ups in any customer account, including FASTags, after February 29, 2024.

Posted in Community & General | 1 comments | 6894 Views

Enhanced GST System Introduced with Innovative e-Invoice Portal

05 February 2024 at 09:20

The Government of India, in collaboration with States and Union Territories, has unveiled an upgraded Goods and Services Tax (GST) system, incorporating the advanced e-Invoice System.

Posted in GST | 1 comments | 5835 Views

GST Council Contemplates Pan-India Biometric Authentication Rollout for Registration, Says CBIC Chief

05 February 2024 at 09:18

In a significant move to combat fraudulent practices in GST registration, the GST Council is considering a proposal to make biometric-based Aadhaar authentication mandatory pan-India for individuals deemed suspicious, seeking GST registration

Posted in GST | 3360 Views

Budget 2024: CBDT Chairman Nitin Gupta Lauds Swift Tax Return Processing

05 February 2024 at 09:16

In a significant development, Nitin Gupta, Chairman of the Central Board of Direct Taxation (CBDT), has announced that the process of tax return filing has been streamlined, reducing the turnaround time to just 10 days. G

Posted in Union Budget & Policy | 2553 Views