CAclubindia News

CBIC Waives Late Fees for Filing GSTR-9C for FY 2017-18 to FY 2022-23

24 January 2025 at 09:17

The Ministry of Finance waives late fees for delayed filing of GSTR-9C reconciliation statements for FY 2017-18 to FY 2022-23, if filed by March 31, 2025. Learn more about the relief for taxpayers.

Posted in GST | 1 comments | 5793 Views

CBIC Amends GST Rules to Enhance Compliance for Composition Taxpayers via FORM GST CMP-02

24 January 2025 at 09:14

CBIC introduces amendments to GST Rules, 2025, enabling composition taxpayers to furnish key information in FORM GST CMP-02. These changes aim to simplify compliance and improve transparency in the GST framework.

Posted in GST | 10752 Views

CBIC Introduces Temporary Identification Number in GST Rules 2025

24 January 2025 at 09:12

The Central Board of Indirect Taxes and Customs (CBIC) has amended GST Rules, 2025, introducing a Temporary Identification Number (TIN) for individuals or entities not liable for GST registration but required to make payments under the Act.

Posted in GST | 6246 Views

CBDT Introduces Special Taxation Provisions for Non-Resident Cruise Ship Operators

23 January 2025 at 09:19

As a measure to promote investment and employment, Finance (No. 2) Act, 2024 inter alia provided a presumptive taxation regime for non-residents, engaged in the business of operation of cruise ships.

Posted in Income Tax | 2139 Views

Union Budget 2025: Key Expectations and Demands of SMEs and MSMEs

23 January 2025 at 09:15

As the Union Budget approaches, the Small and Medium Enterprises (SMEs) and Micro, Small, and Medium Enterprises (MSMEs) - the backbone of India's economic growth and employment generation are pinning their hopes on strategic reforms

Posted in Union Budget | 2142 Views

GSTN Resolves Duplicate Entry Issue in GSTR-2B: Advisory for Taxpayers Filing GSTR-3B

23 January 2025 at 09:12

The Goods and Services Tax Network (GSTN) has addressed and resolved an issue concerning duplicate entries in GSTR-2B for certain taxpayers. A corrected GSTR-2B has now been generated.

Posted in GST | 2700 Views

GSTN Rolls Out Phase-III Changes to Table 12 of GSTR-1 & GSTR-1A Effective February 2025

23 January 2025 at 09:09

Implementation of mandatory mentioning of HSN codes in GSTR-1 & GSTR 1AAfter successful implementation of Phase-I & Phase-II now Phase-III regarding Table 12 of GSTR-1 & 1A is being implemented, from return period February 2025.

Posted in GST | 3297 Views

ICAI Extends Deadlines for Peer Review Mandate Phases III and IV

23 January 2025 at 09:05

In a significant move, the Institute of Chartered Accountants of India (ICAI) has announced the extension of deadlines for Phases III and IV of the mandatory Peer Review Mandate.

Posted in Professional Resource | 3171 Views

Union Budget 2025: Key Expectations for India's Insurance Sector

22 January 2025 at 08:59

As Finance Minister Nirmala Sitharaman gears up to present the Union Budget 2025 on February 1, industry experts are eyeing significant reforms to propel India toward its ambitious goal of "Insurance for All" by 2047.

Posted in Union Budget | 1947 Views

Union Budget 2025: Industry Experts Seek Tax Incentives to Boost REITs and Green Buildings

22 January 2025 at 08:59

Industry insiders and experts are urging the Union Budget 2025 to introduce tax incentives and simplify the tax structure to enhance the appeal of Real Estate Investment Trusts (REITs) as a viable investment option.

Posted in Union Budget | 1674 Views