CAclubindia News

CBIC Announces Central Excise (Amendment) Rules, 2024

05 December 2024 at 09:08

In a significant update, the Ministry of Finance issued Notification No. 01/2024-Central Excise (N.T.) on December 3, 2024, amending key provisions of the Central Excise Rules, 2017.

Posted in GST | 1593 Views

GST Evasion Cases in Gujarat: Over 12800 Cases Booked, 101 Arrests in 4 Years

05 December 2024 at 09:06

Central tax authorities have intensified efforts to combat Goods and Services Tax (GST) evasion in Gujarat, with Finance Minister Nirmala Sitharaman revealing significant enforcement actions in the Rajya Sabha on Tuesday.

Posted in GST | 525 Views

RBI Enhances Limits for UPI Lite Transactions in Offline Mode

05 December 2024 at 09:05

In a significant move to promote small-value digital payments, the Reserve Bank of India (RBI) has revised the framework for facilitating offline payments under UPI Lite.

Posted in Community & General | 447 Views

GSTN Issues Advisory on Mandatory Sequential Filing of GSTR-7 Returns

05 December 2024 at 09:04

Advisory on Mandatory Sequential Filing of GSTR-7 Returns as per Notification No. 17/2024

Posted in GST | 2430 Views

CBIC Rescinds Central Excise Notification 08/2022, Ends Specified Goods Exemption

05 December 2024 at 08:43

In a crucial update, the Ministry of Finance has issued Notification No. 31/2024-Central Excise, dated December 3, 2024, rescinding Notification No. 08/2022-Central Excise.

Posted in Excise | 603 Views

CBDT Grants Approval to IIIT Hyderabad for Scientific Research Under Income Tax Act

05 December 2024 at 08:43

In a significant development, the Central Board of Direct Taxes (CBDT), under the Ministry of Finance, has issued Notification No. 125/2024, approving the International Institute of Information Technology (IIIT), Hyderabad, for 'Scientific Research.'

Posted in Income Tax | 483 Views

Lok Sabha Passes Banking Laws (Amendment) Bill 2024

04 December 2024 at 10:28

On December 3, 2024, the Lok Sabha passed the Banking Laws (Amendment) Bill, 2024, with a voice vote. The bill, introduced by Union Finance Minister Nirmala Sitharaman, aims to bring significant changes to improve governance in the banking sector

Posted in Audit | 4446 Views

IRS Officer Trainees Urged by President Murmu to Enhance Tax Administration

04 December 2024 at 09:08

Addressing the officers, the President said that the Indian Revenue Service (Customs and Indirect Taxes) connects our economy through a uniform tax system and shared administrative values.

Posted in Income Tax | 606 Views

CBIC Clarifies: Media Reports on GST Rate Changes Are Premature and Speculative

04 December 2024 at 09:03

GST Council has neither received nor deliberated on any recommendations from the GoM. Until the GoM submits its report, and the Council discusses and makes decisions, any reports regarding GST rate changes remain speculative and without an official basis.

Posted in GST | 2124 Views