CAclubindia News

CBIC Mandates Strict Reviews of Govt Employees, Potential for Early Retirement

24 August 2024 at 15:40

The Central Board of Indirect Taxes (CBIC) has issued a directive to all divisional heads to rigorously follow the guidelines set by the Department of Personnel and Training (DoPT) concerning the periodic review of government employees.

Posted in GST | 2847 Views

IndiGo to Challenge Rs 3.5 Lakh Penalties Over ITC Issue

24 August 2024 at 08:57

IndiGo plans to challenge two GST penalty orders totalling Rs 3,50,299 related to input tax credit claims for FY 2017-18 in Odisha and Kerala.

Posted in GST | 1716 Views

GST Notices Worth Over Rs 80,000 Crore Issued for Assessment Years 2018-22

24 August 2024 at 08:55

The Directorate General of GST Intelligence has issued over 20,000 notices nationwide for AY 2017-18 to AY 2021-22, demanding Rs 80,000 crore. Notices target tax shortfalls, ITC reversal, and legal interpretation issues.

Posted in GST | 14703 Views

GST Portal Introduces RCM Liability/ITC Statement

24 August 2024 at 08:52

To assist taxpayers in correctly reporting Reverse Charge Mechanism (RCM) transactions, a new statement called "RCM Liability/ITC Statement" has been introduced on the GST Portal.

Posted in GST | 17679 Views

GSTN Issues Advisory for Furnishing Bank Account Details Before Filing GSTR-1/IFF

24 August 2024 at 08:51

Advisory for furnishing bank account details before filing GSTR-1/IFF Notification No. 38/2023 - Central Tax New Delhi, the 4th August, 20231.

Posted in GST | 5271 Views

SEBI Bars Anil Ambani and 24 Entities from Securities Market for 5 Years over Fund Diversion Scandal

23 August 2024 at 14:18

In a landmark ruling, the SEBI has barred industrialist Anil Ambani and 24 other entities from participating in the securities market for five years.

Posted in Corporate Law | 3078 Views

FM Sitharaman Pushes for RRBs to Boost Credit Flow to MSMEs in Cluster Areas

23 August 2024 at 09:08

Union Finance Minister Smt. Nirmala Sitharaman chairs meeting to review performance of nine Regional Rural Banks (RRBs) of Gujarat, Maharashtra, Madhya Pradesh, Chhattisgarh and Rajasthan, in Udaipur, todaySmt. Sitharaman urges RRBs to generate aware

Posted in Corporate Law | 582 Views

FM Sitharaman: Increase in Tax Collections Reflect India's Growing Economic Formalization

23 August 2024 at 09:03

FM Nirmala Sitharaman, presided over the 165th anniversary of Income Tax Day, observed by the Central Board of Direct Taxes (CBDT) in New Delhi.

Posted in Income Tax | 534 Views

Income Tax Department directs officers to focus on top 5,000 cases

23 August 2024 at 09:02

In a significant move to bolster tax recovery and reduce litigation, the Income Tax Department has directed its officers to concentrate on the top 5,000 cases, which account for a staggering Rs 43 lakh crore in tax demand.

Posted in Income Tax | 3636 Views

Income Tax Department Processes Nearly 4 Crore ITRs in Just 15 Days

22 August 2024 at 15:02

In a remarkable feat of digitisation, the department has processed nearly 4 crore income tax returns (ITRs) for Assessment Year (AY) 2024-25 in just 15 days.

Posted in Income Tax | 1 comments | 2625 Views