CAclubindia News

Income Tax Department Launches 24x7 Control Room to Monitor Unaccounted Cash and Valuables Ahead of Delhi Assembly Elections 2025

09 January 2025 at 09:04

Income Tax Department sets up 24x7 Control Room with Toll Free Number to vigil on movement of unaccounted cash, bullion & other valuables to ensure clean and fair Delhi Legislative Assembly Elections, 2025

Posted in Income Tax | 762 Views

DGGI Granted Powers to Block Online Money Gaming Apps Evading GST

09 January 2025 at 09:01

The Directorate General of GST Intelligence (DGGI) has been empowered to directly issue takedown notices to intermediaries to block online money gaming apps and websites evading Goods and Services Tax (GST).

Posted in GST | 2058 Views

Gems and Jewellery Industry Seeks GST Reduction to 1% Ahead of Union Budget

09 January 2025 at 09:00

The All India Gem and Jewellery Domestic Council (GJC) has urged the government to reduce Goods and Services Tax (GST) on the sector from the current 3% to 1% on a revenue equivalence ratio.

Posted in GST | 765 Views

Gujarat SGST Department Uncovers Rs 11.33 Crore Liability in Raids on Coaching Institutes

09 January 2025 at 08:57

The Gujarat State Goods and Services Tax (SGST) Department announced on Tuesday the uncovering of significant tax evasions during raids on 11 coaching institutes.

Posted in GST | 633 Views

CBDT Notifies Exemption for IFSC Units from Section 206C(1H) Tax Collection Under Income-tax Act

09 January 2025 at 08:49

CBDT has issued a key update via Notification No. 6/2025 dated January 6, 2025, exempting Units of IFSC from being treated as buyers under Section 206C(1H) of the Income-tax Act, 1961.

Posted in Income Tax | 948 Views

Advisory Issued for Biometric Aadhaar Verification for GST Registration in Rajasthan

09 January 2025 at 08:49

Advisory for Biometric-Based Aadhaar Authentication and Document Verification for GST Registration Applicants of Rajasthan

Posted in GST | 417 Views

RBI Releases Draft Formats of Financial Statements of Co-operative Banks

09 January 2025 at 08:49

The Reserve Bank of India (RBI) has initiated a significant update to the financial reporting formats for co-operative banks under Section 29, read with Section 56 of the Banking Regulation Act, 1949.

Posted in Community & General | 2508 Views

Gaming Industry Seeks Supreme Court's Intervention Against Massive GST Demands

08 January 2025 at 09:12

The online money gaming industry in India is under immense pressure as companies face tax demands that exceed their total revenue.

Posted in GST | 762 Views

GST Portal Enables Taxpayers to File Rectification Applications for ITC Demand Orders u/s 73/74

08 January 2025 at 09:07

A functionality has now been made available on the Portal for taxpayers to file an application for rectification of such orders issued under section 73/74.

Posted in GST | 5751 Views

Mutual Fund Industry Seeks Restoration of Indexation Benefit for Debt Funds in Budget FY26

08 January 2025 at 09:00

The mutual fund (MF) industry is hopeful that the government may restore the indexation benefit for computing capital gains on the sale of debt-oriented funds. ..

Posted in Union Budget & Policy | 1329 Views