CAclubindia News

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 | 1299 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 | 6510 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 | 744 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 | 2688 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 | 819 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 | 1227 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 | 9177 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 | 5019 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 | 3186 Views

Net Direct Tax Collections for FY 2024-25 Surge by 18.35% as of 10th October

14 October 2024 at 09:05

India's net direct tax collections for the financial year 2024-25 have seen significant growth, reaching ₹11.25 lakh crore by October 10, 2024, marking an 18.35% increase compared to the previous year.

Posted in Income Tax | 426 Views