CAclubindia News
New IMS on GST Portal Aims to Curb ITC Discrepancy Notices and Reduce Litigation
13 November 2024 at 06:54The Goods and Services Tax (GST) portal's recently launched Invoice Management System (IMS) is set to significantly decrease the number of notices issued over Input Tax Credit (ITC) discrepancies
GSTN Issues Advisory regarding IMS during initial phase of its implementation
13 November 2024 at 06:52Invoice Management System (IMS) is an optional facility introduced from October 2024 on GST Portal, on which the invoices/records saved/furnished by the supplier in GSTR-1/1A/IFF
Govt Targets Rs 1.54 Lakh Crore Credit Growth for MSMEs in FY25
13 November 2024 at 06:36In a major boost to the Micro, Small, and Medium Enterprises (MSME) sector, the government has outlined ambitious credit growth targets, mandating scheduled commercial banks and Non-Banking Financial Companies (NBFCs) to extend additional credit of R
Income Tax Department Cracks Down on Bogus Refund Claims, Sends Notices to Taxpayers
13 November 2024 at 06:36The Income Tax Department has intensified scrutiny on dubious tax refund claims for the assessment years 2021-22 and 2022-23, issuing notices to multiple taxpayers across the country.
NFRA Set to Propose Audit Norms for LLPs in 25th Nov Board Meeting
12 November 2024 at 05:58The National Financial Reporting Authority (NFRA) has convened a board meeting scheduled for November 25, where it will examine and potentially set audit standards for limited liability partnerships (LLPs), according to official sources.
Centre Likely to Retain Direct Tax Revenue Estimates in Revised Projections
12 November 2024 at 05:58As per sources within the Finance Ministry, the Centre is likely to maintain its original budgeted estimate of ₹22.07 lakh crore for direct tax collection when it revises estimates in February.
Finance Ministry Highlights Digital Innovations in RRBs, Urges Expansion of Customer-Centric Services
11 November 2024 at 06:44Focus of the meeting was business performance, upgrading digital technology services, and fostering business growth in activities allied to agriculture and micro and small industry
CII Urges Tax Reforms and Increased Capital Investment in Union Budget 2025-26
11 November 2024 at 06:44In a pre-Budget meeting with Revenue Secretary Sanjay Malhotra, the Confederation of Indian Industry (CII) urged the government to continue tax reforms and boost capital expenditure in the Union Budget for 2025-26.
Industry Bodies Urge Finance Ministry to Simplify TDS Rates in Union Budget 2025
11 November 2024 at 06:44In anticipation of the Union Budget 2025, leading industry bodies have urged the finance ministry to streamline the tax deducted at source (TDS) structure, aiming to reduce the compliance burden and minimize litigation for taxpayers, as per reports.
CBIC Simplifies Compliance for Customs Cargo Service Providers with New Insurance and Licensing Relaxations
09 November 2024 at 07:14CBIC introduces relaxations for Customs Cargo Service Providers (CCSPs) by reducing number of days for insurance of storage goods and withdrawal of licence renewal process for AEO-compliant CCSPs
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