CAclubindia News

GST Portal Introduces Auto-Populated ITC in GSTR-9 for FY 2023-24

15 October 2024 at 15:19

Starting FY 2023-24, GST system will auto-populate eligible ITC for domestic supplies (excluding reverse charge and imports ITC) from table 3(I) of GSTR-2B to table 8A of GSTR-9.

Posted in GST | 1602 Views

MCA Notifies Companies (Adjudication of Penalties) Second Amendment Rules, 2024

15 October 2024 at 13:35

On October 9, 2024, the Ministry of Corporate Affairs (MCA) issued Notification No. G.S.R. 630(E), introducing the Companies (Adjudication of Penalties) Second Amendment Rules, 2024. This amendment further refines the existing framework for adjudicat

Posted in Corporate Law | 1182 Views

CBDT Notifies Income Tax Exemptions for Various Public Authorities u/s 10(46) of the IT Act

15 October 2024 at 09:01

The Central Board of Direct Taxes (CBDT) has issued a series of notifications providing income tax exemptions for public authorities across several sectors under Section 10(46) of the Income-tax Act, 1961.

Posted in Income Tax | 6456 Views

Central GST Officer Arrested for Accepting Rs 1.25 Lakh Bribe in Gujarat

15 October 2024 at 08:59

The Gujarat Anti-Corruption Bureau (ACB) caught a Central GST officer, Mohammad Rizwan Sheikh, red-handed while accepting a bribe of Rs 1.25 lakh on Thursday.

Posted in GST | 702 Views

15% Minimum Corporate Tax Rule Likely to be Included in Ongoing IT Act Review

15 October 2024 at 08:55

India is preparing to align with the OECD/G20 Inclusive Framework on Base Erosion and Profit Shifting (BEPS) by adopting Pillar 2, which mandates a global minimum corporate tax rate of 15% for multinational corporations (MNCs).

Posted in Income Tax | 2634 Views

GSTN Advisory: IMS Launched for Taxpayers to Streamline ITC Claims

15 October 2024 at 08:51

Invoice Management System (IMS) is made available to taxpayers from 14th Oct 2024.

Posted in GST | 804 Views

ICAI Issues New Quality Management Standards: SQM 1 and SQM 2 for Auditing and Assurance

15 October 2024 at 08:50

The Institute of Chartered Accountants of India (ICAI) is issuing the following standards

Posted in Audit | 1092 Views

CBIC Issues Clarifications on GST Applicability for Specific Services

14 October 2024 at 09:08

The Central Board of Indirect Taxes and Customs (CBIC) has released crucial clarifications on the applicability of Goods and Services Tax (GST) on certain services through Circular No. 234/28/2024-GST

Posted in GST | 8964 Views

CBIC Issues Clarification on "As Is / As Is, Where Is Basis" mentioned in GST Circulars

14 October 2024 at 09:08

The Central Board of Indirect Taxes and Customs (CBIC) has provided crucial clarification regarding the scope of the "as is / as is, where is basis" terminology used in previous GST circulars. Issued on October 11, 2024, Circular No. 236/30/2024-GST

Posted in GST | 4824 Views

CBIC Issues Clarification on GST Rates and Classification of Goods Following 54th GST Council Meeting

14 October 2024 at 09:07

The Central Board of Indirect Taxes and Customs (CBIC) has released a significant clarification on GST rates and classification of goods through Circular No. 235/29/2024-GST, dated October 11, 2024.

Posted in GST | 3078 Views