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CBIC Rescinds Central Excise Notification 08/2022, Ends Specified Goods Exemption
05 December 2024 at 08:43In 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.
CBDT Grants Approval to IIIT Hyderabad for Scientific Research Under Income Tax Act
05 December 2024 at 08:43In 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.'
Lok Sabha Passes Banking Laws (Amendment) Bill 2024
04 December 2024 at 10:28On 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
IRS Officer Trainees Urged by President Murmu to Enhance Tax Administration
04 December 2024 at 09:08Addressing 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.
CBIC Clarifies: Media Reports on GST Rate Changes Are Premature and Speculative
04 December 2024 at 09:03GST 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.
PM Internship Scheme Pilot Offers 1.25 Lakh Internship Opportunities for FY 2024-25
04 December 2024 at 08:57Pilot Project launched under PMIS to provide 1.25 lakh internship opportunities in the FY 2024-25.
MCA Decriminalizes 63 Offences, Centralizes Strike-Off Process via C-PACE
04 December 2024 at 08:54Decriminalization of 63 offences under the Companies and LLP Acts
Union Budget 2025: Key Reforms Expected for Direct Tax Code Implementation
04 December 2024 at 08:50The Union Budget 2025 is expected to bring significant changes to India's income tax framework, with the long-awaited implementation of the Direct Tax Code (DTC) marking a major step toward overhauling the country's direct tax system.
FM Sitharaman Signals Possible GST Reduction on Life and Health Insurance Premiums
04 December 2024 at 08:49Finance Minister Nirmala Sitharaman has suggested that a reduction in the GST on life and health insurance premiums could lead to lower costs for policyholders.
75% of GST Revenue Comes from 18% Slab, Reveals MoS Finance
04 December 2024 at 08:46In the fiscal year 2023-24, approximately 70-75% of GST revenues were generated from the 18% tax slab, while the 12% slab contributed just 5-6% of the total collection.
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