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Over 34.84 Lakh Audit Reports Filed on Income Tax E-Filing Portal upto October 7 2024

   10 October 2024 at 09:15

More than 34.84 lakh audit reports filed on e-filing portal of Income Tax Department upto 7th October, 2024

Posted in Income Tax |   1062 Views


Tax Refund Delays Prompt Concern Among Taxpayers and Chartered Accountants

   10 October 2024 at 09:15

After Finance Minister Nirmala Sitharaman highlighted a taxpayer's grievance regarding delays in tax refunds, chartered accountants (CAs) are reporting that many of their clients are similarly affected.

Posted in Income Tax |   1695 Views


Senior Journalist Among 6 Arrested in Gujarat GST Scam: Raids Uncover 200 Fake Firms

   10 October 2024 at 09:15

Following a complaint regarding GST evasion, the Ahmedabad Crime Branch has taken significant action across the state, conducting raids at 14 locations, including Ahmedabad, Junagadh, Surat, Kheda, and Bhavnagar.

Posted in GST |   579 Views


28% GST Review: Online Gaming Industry's Top Priority One Year On

   10 October 2024 at 09:15

It has been one year since the implementation of the 28% GST on online gaming in India. While both companies and consumers have adjusted to the higher tax rate, a review of this levy remains a top priority for industry stakeholders.

Posted in GST |   468 Views


New Offline Utility Released for Filing ITRs on Income Tax Portal for AY 2024-25

   10 October 2024 at 09:15

Common Offline Utility for filing Income-tax Returns ITR 1, ITR 2, ITR 3 and ITR 4 for the AY 2024-25

Posted in Income Tax |   519 Views


ICAI: SPOM Tests Paused from Oct 11-20, 2024 for Portal Upgrade

   09 October 2024 at 16:45

In view of the maintenance and upgradation in the software of the SPMT portal, the Self-Paced Online Module tests will not be conducted from 11th October, 2024 to 20th October, 2024.

Posted in Students |   9021 Views


CBIC Notifies Waiver Procedure for Interest and Penalty on Tax Demands u/s 73 of CGST Act for FY 2017-2020

   09 October 2024 at 09:34

In a significant relief for taxpayers facing tax demands from prior financial years, the CBIC has issued Notification No. 21/2024–Central Tax outlining the procedure and conditions for the waiver of interest, penalty, or both

Posted in GST |   5064 Views


CBIC Waives Late Fees for TDS Filers u/s 51 of CGST Act on Delayed GSTR-7 Filings Since June 2021

   09 October 2024 at 09:33

In a relief for taxpayers required to deduct tax at source (TDS) under section 51 of the CGST Act, 2017, the Central Board of Indirect Taxes and Customs (CBIC) has issued Notification No. 23/2024, dated October 8, 2024

Posted in GST |   2670 Views


CBIC Notifies Special Mechanism for Rectification of Orders on Wrong ITC Availment u/s 16 of CGST Act

   09 October 2024 at 09:32

In a crucial update aimed at streamlining GST compliance, the CBIC has issued Notification No. 22/2024-Central Tax dated October 8, 2024, to notify the mechanism for implementing newly inserted sub-sections (5) and (6) in Section 16

Posted in GST |   16278 Views


CBIC Introduces RCM for Renting Commercial Property by Unregistered Persons to Registered Entities to Curb Revenue Leakage

   09 October 2024 at 09:30

In a significant move to tighten GST compliance and prevent revenue leakage, the Central Board of Indirect Taxes and Customs (CBIC) has issued Notification No. 09/2024-Central Tax (Rate), dated October 8, 2024.

Posted in GST  5 comments |   34647 Views



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