CBIC vide Circular No. 192/04/2023-GST dated July 17, 2023 has issued clarification on charging of interest under section 50(3) of the CGST Act, 2017, in cases of wrong availment of IGST credit and reversal thereof.
CBIC vide Circular No. 196/08/2023-GST dated July 17, 2023 has issued a clarification on the taxability of shares held in a subsidiary company by the holding company.
CBIC vide Circular No. 197/09/2023- GST dated July 17, 2023 has issued clarification on various issues relating to GST refunds.
Clarification regarding the taxability of services provided by an office of an organisation in one State to the office of that organisation in another State, both being distinct persons.
Various amnesty schemes for non-filers of GSTR-4, GSTR-9 & GSTR-10 have been extended till August 31, 2023. The original deadline for these schemes was June 30, 2023.
Offline utility of ITR-5 for AY 2023-24 is available for filing.
The Income Tax Department (ITD) raided the house of a YouTuber named Taslim in Uttar Pradesh on July 15, 2023. The ITD found ₹ 24 lakh cash during the raid, along with gold jewellery and other valuables.
The Enforcement Directorate (ED) has arrested three persons, including a former Income Tax (I-T) official, in connection with a Rs 263 crore Tax Deducted at Source (TDS) refund fraud.
Over 130 online gaming companies and industry associations have written to the Centre urging it to reconsider the 28% GST on the full face value for online gaming
The Ministry of Finance has said that there is no plan to extend the deadline for filing income tax returns for the financial year 2022-23. The last date for filing returns is July 31, 2023.
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