The Indian government is working on the development of a database that will rank suppliers based on their Goods and Services Tax (GST) compliance track record, credit history, transaction and supply history, and any past defaults.
The Income-tax (Twenty first Amendment), Rules, 2023, also known as the Angel Tax Rules, were notified by the Central Board of Direct Taxes (CBDT) on September 25, 2023.
This situation highlights a significant case of corruption and fraud within the GST department in Mumbai, with allegations of involvement by multiple officials...
About 80 online gaming companies in India are facing tax notices for alleged GST evasion totaling ₹10,000-12,000 crore (10-12 billion INR).
Finance Minister Nirmala Sitharaman has highlighted the positive impact of the Goods and Services Tax (GST) on the revenue collections of North Eastern states.
The Union Finance Secretary, T.V. Somanathan, has expressed the view that Artificial Intelligence (AI) has the potential to replace some of the work currently done by auditors and accountants.
Ministry of Corporate Affairs (MCA) has extended the timeline for holding Annual General Meetings (AGMs) and Extra-Ordinary General Meetings (EGMs) through video conferencing (VC) or other audio-visual means (OAVM) until September 30, 2024.
The Life Insurance Corporation of India (LIC) has received a Goods and Services Tax (GST) demand, which includes interest and penalty, from Bihar state tax officials amounting to over Rs 290 crore.
The Income Tax Department is making every effort to complete the processing of Income Tax Returns (ITRs) and issuance of refunds expeditiously
Central Board of Direct Taxes (CBDT) has released Updated Utilities, Excel-based Utility and a MAC Utility for filing Income Tax Returns ITR 3, ITR 5, and ITR 6 for the Assessment Year (A.Y.) 2023-24.
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