CAclubindia News

India's Fiscal Deficit for FY25 Likely to Be Lower at 4.75% of GDP

29 November 2024 at 09:03

India's fiscal deficit for the financial year 2024-25 is projected to be 4.75% of the gross domestic product (GDP), 19 basis points (bps) lower than the budget estimate of 4.9%, according to India Ratings and Research (Ind-Ra).

Posted in Income Tax | 429 Views

GST Collections in Nov 2024 Likely to Surpass Rs 1.87 Lakh Crore, Driven by Festive Demand

29 November 2024 at 09:01

Goods and Services Tax (GST) revenue for November 2024 is expected to surpass October's collection of Rs 1.87 lakh crore, according to a senior government official.

Posted in GST | 981 Views

Personal Income Tax Collections Plays Key Role in H1 FY25 Revenue Growth

29 November 2024 at 09:01

Personal income tax collections emerged as a critical driver of government revenues in the first half of fiscal 2025, counterbalancing subdued growth in corporate tax and other indirect tax components

Posted in Income Tax | 1677 Views

CBDT Report Highlights Need to Address Repeat Penalties for Undisclosed Foreign Assets

28 November 2024 at 09:17

A group of income-tax officials has submitted a detailed report to the CBDT, recommending significant changes to enhance the enforcement of the Black Money and Imposition of Tax Act, 2015.

Posted in Income Tax | 1983 Views

Govt Collects Rs 4,792 Crore GST on Education Services in FY24

28 November 2024 at 09:13

The government collected a significant ₹4,792 crore in Goods and Services Tax (GST) from the education sector during the financial year 2023-24.

Posted in GST | 1581 Views

GST Due Date for Oct 2024 Extended to 30th Nov for Manipur Taxpayers

28 November 2024 at 09:13

The Ministry of Finance (Department of Revenue), through the Central Board of Indirect Taxes and Customs (CBIC), has issued Notification No. 29/2024 – Central Tax dated November 27, 2024.

Posted in GST | 2106 Views

GSTN Issues Advisory on Authorised e-Invoice Verification Apps

28 November 2024 at 09:12

GSTN has prepared a consolidated document on authorized B2B e-invoice verification apps available for download.

Posted in GST | 1800 Views

GSTN Introduces Biometric Aadhaar Authentication for GST Registration in Madhya Pradesh

28 November 2024 at 09:11

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

Posted in GST | 408 Views

45-Day Payment Policy for MSMEs Receives Endorsement from Industry Associations, FinMin Reveals

28 November 2024 at 09:10

The revised Section 43B of the Income-tax Act, 1961, introduced in the Union Budget last year, has been widely endorsed by MSME associations across India, said Pankaj Chaudhary, Minister of State for Finance, in the Lok Sabha on Monday.

Posted in Income Tax | 777 Views

Finance Ministry's October Review Highlights 'Cautiously Optimistic' Economic Outlook for Coming Months

28 November 2024 at 09:10

The Indian Finance Ministry, in its monthly economic review for October, has expressed a "cautiously optimistic" outlook for the country's economy in the coming months.

Posted in Corporate Law | 369 Views