CAclubindia News

GST IMS Dashboard: New Guidelines for 'Deemed Acceptance' and Record Handling

04 November 2024 at 08:46

The GST framework has introduced new guidelines regarding the handling of records on the Invoice Matching System (IMS) dashboard, aiming to improve clarity and streamline the GSTR-2B reconciliation process.

Posted in GST | 2922 Views

CBIC Issues New Guidelines to Balance Tax Evasion Investigations with Ease of Doing Business in Import and Export

04 November 2024 at 08:44

The Central Board of Indirect Taxes and Customs (CBIC) has released Instruction No. 27/2024-Customs, dated November 1, 2024, to guide Customs field formations on handling tax evasion investigations while promoting ease of doing business.

Posted in Custom | 1752 Views

Commercial Tax Officer Arrested in Bengaluru for Bribery and Forged Identity Documents

04 November 2024 at 08:41

In a significant operation, Lokayukta police have arrested a commercial tax officer from Division-5 in Koramangala, Bengaluru, for allegedly accepting a bribe. ..

Posted in Income Tax | 369 Views

Govt Likely to Delay Pillar-2 Tax Rules Citing Limited Revenue Benefit

02 November 2024 at 08:59

India is adopting a cautious stance on implementing the OECD-led Pillar 2 tax regime, which mandates a 15% minimum corporate tax rate for multinational enterprises (MNEs) with global revenues exceeding €750 million.

Posted in Income Tax | 1383 Views

India's Fiscal Deficit for April-September 2024 Marks 29.4% of FY25 Target

02 November 2024 at 08:54

India's fiscal deficit for the first half of FY25 (H1FY25) was reported at ₹4.7 trillion, or 29.4% of the full-year Budget Estimate (BE) of ₹16.16 trillion, as per data from the Controller General of Accounts (CGA).

Posted in Income Tax | 333 Views

GST Collection Hits Rs 1.87 Lakh Crore in October, Second-Highest Ever Boosted by Domestic Sales

02 November 2024 at 08:52

India recorded significant growth in its Goods and Services Tax (GST) collections for October 2024, showcasing a strong economic momentum.

Posted in GST | 906 Views

CBDT Notifies Electronic Submission of Specified Forms Under Rule 131 for Income Tax Compliance

01 November 2024 at 07:58

CBDT through the Directorate of Income Tax (Systems), issued Notification No. 5/2024 on October 30, 2024, mandating the electronic submission of certain forms listed in Appendix-II of the Income Tax Rules, 1962

Posted in Income Tax | 2484 Views

CBDT Grants Delay Condonation for AY 2023-24 Income Returns Claiming Section 80P

01 November 2024 at 07:56

The Central Board of Direct Taxes (CBDT) has recently issued Circular No. 14/2024 on October 30, 2024, which allows for the condonation of delay in filing income tax returns for Assessment Year (AY) 2023-24

Posted in Income Tax | 2301 Views

ICAI and CAs: Supporting India's Journey to Become a $30 Trillion Economy by 2047

01 November 2024 at 07:54

India's Vision India@2047, a blueprint to transform the nation into a $30 trillion economy by 2047

Posted in Professional Resource | 6588 Views

CBDT Notifies Transfer Pricing Tolerance Range for AY 2024-25 Under Rule 10CA

31 October 2024 at 08:05

The Central Board of Direct Taxes (CBDT) has issued notification no. 116/2024 dated October 18, 2024 notifying the tolerance range for AY 2024-25.

Posted in Income Tax | 624 Views