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.
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).
Invoice Management System (IMS) is made available to taxpayers from 14th Oct 2024.
The Institute of Chartered Accountants of India (ICAI) is issuing the following standards
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
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
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.
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.
The government has issued Notification 25/2024-Central Tax, on October 9, 2024 under GST Section 51 of the CGST Act, 2017 mandating compliance by businesses dealing with Metal Scrap.
In a significant crackdown on tax fraud, the anti-evasion team of Thane Central Excise & CGST Commissionerate Mumbai Zone uncovered a massive fake Input Tax Credit (ITC) racket worth ₹48 crores.
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