CAclubindia News

GSTN Issues Advisory related to Other Territory Applications

08 November 2024 at 06:42

As per Notification No. 2/2017-Central Tax dated 19th June, 2017 read with Trade Notice No. 01/2017-Central Tax dated 21st June, 2017 issued by Office of the Chief Commissioner of Central Excise, Mumbai Zone I and GST Trade Notice No. 002/2017

Posted in GST | 1365 Views

RBI Reports 98% of Rs 2000 Banknotes Returned Post Withdrawal Announcement

08 November 2024 at 06:39

98.04% of the Rs 2000 banknotes in circulation as on May 19, 2023, has been returned.

Posted in Community & General | 495 Views

Truecaller India Offices Face Income Tax Raids Amid Ongoing Compliance Checks

08 November 2024 at 06:39

In a recent development, Truecaller, the Stockholm-based caller identification and spam-blocking app, confirmed that it is cooperating with Indian income tax authorities following raids on its offices in Noida, Mumbai and Bengaluru.

Posted in Income Tax | 1461 Views

CBIC Mandates 1-Year Deadline for Customs Fraud Inquiries

07 November 2024 at 06:44

In a significant move aimed at enhancing the ease of doing business, the CBIC has issued a directive to customs field formations, emphasizing transparency and efficiency in conducting investigations related to export and import fraud

Posted in GST | 4947 Views

December GST Council Meeting to Address Rate Cuts on Life and Health Insurance Premiums

07 November 2024 at 06:44

With the end of the year approaching, the GST Council may soon bring significant relief to policyholders of life and health insurance.

Posted in GST | 1002 Views

CBDT Considers Revamp of Income Tax Department Designations to Enhance Clarity and Transparency

07 November 2024 at 06:44

CBDT is reportedly exploring a restructuring of designations within the Income Tax Department. This initiative aims to make roles more understandable for the public and create a transparent image of the department, aligning titles with responsibilities.

Posted in Income Tax | 2130 Views

Tax Officers Uncover 18,000 Fake GST Firms, Detect Rs 25,000 Crore Tax Evasion

07 November 2024 at 06:44

In a major success for tax authorities, GST officers have unearthed around 18,000 fake companies involved in a large-scale tax evasion scheme, totalling approximately ₹25,000 crore.

Posted in GST | 1158 Views

CBIC Mandates Virtual Hearings for GST, Customs, Excise and Service Tax Appeals

06 November 2024 at 07:13

CBIC Judicial Cell, through its Instruction No. F. No. 390/Misc/3/2019-JC dated November 5, 2024, has released comprehensive guidelines for the conduct of personal hearings under various tax laws

Posted in GST | 6135 Views

GSTN Advisory: New e-Invoice Reporting Limit Set for Businesses with AATO of Rs 10 Crore and above

06 November 2024 at 07:09

Advisory: Time Limit for Reporting e-Invoice on the IRP Portal - Lowering of Threshold to AATO 10 Crores and Above

Posted in GST | 15981 Views

GSTN Issues Advisory for Form GST DRC-03A

06 November 2024 at 07:04

It has been observed that some taxpayers have paid the demanded amount vide DRC 07/DRC 08/MOV 09/MOV 11/APL 04 through DRC-03 instead of using payment facility ‘Payment towards demand’ available on GST portal.

Posted in GST | 1317 Views