CAclubindia News

CBIC to Notify GST Provisions Under Finance Act 2024 Post 54th GST Council Meeting on 9th September

31 August 2024 at 09:09

The Central Board of Indirect Taxes and Customs (CBIC) has announced that the provisions of the Finance (No.2) Act, 2024, related to Goods and Services Tax (GST) will not come into effect until after the 54th GST Council Meeting.

Posted in GST | 5511 Views

CBDT rolls out Dispute Resolution Scheme (e-DRS) 2022 to minimise litigation

31 August 2024 at 09:08

In pursuance of section 245MA in the Income-tax Act, 1961 (hereinafter referred to as "the Act"), the CBDT notified the e-Dispute Resolution Scheme, 2022 (e-DRS) with the aim to reduce litigation and provide relief to eligible taxpayers.

Posted in Income Tax | 3204 Views

CBI Arrests Income Tax Principal Commissioner in Rs 10 Lakh Bribery Scandal

30 August 2024 at 14:03

CBI chief in one of the biggest corruption sting operations arrested Principal Commissioner of Income Tax (Patna and Dhanbad) - Santosh Kumar and four others for receiving Rs 10 lakh in bribes.

Posted in Income Tax | 1 comments | 4905 Views

LIC Receives Rs 605.5 Crore GST Demand Order for FY20

30 August 2024 at 09:30

Life Insurance Corporation (LIC) of India has been hit with a GST demand and penalty order totalling Rs 605.5 crore for the fiscal year 2019-20 (FY20).

Posted in GST | 678 Views

Chocolate Firms and Bakeries Hit with GST Notices Over Alleged Underpayment

30 August 2024 at 09:26

More than a dozen bakery and chocolate companies have been served notices by the DGGI for allegedly underpaying GST from July 2017 to March 2023.

Posted in GST | 1134 Views

Vodafone Idea Faces Rs 15.19 Crore GST Demand and Rs 1.51 Crore Penalty

30 August 2024 at 09:23

The GST office in Patna has ordered debt-ridden Vodafone Idea (VIL) to pay Rs 15.19 crore in taxes, along with a penalty of Rs 1.51 crore, for allegedly availing input tax credit (ITC) it was not eligible for during FY 2019-20 and 2020-21.

Posted in GST | 1 comments | 780 Views

ICAI Releases CA Admit Cards for September 2024 Exams

29 August 2024 at 16:22

The Institute of Chartered Accountants of India (ICAI) has officially released the admit cards for the upcoming Chartered Accountancy (CA) Foundation and Intermediate exams scheduled for September 2024.

Posted in Students | 5724 Views

ICAI Reprimands CA for Circulating Defamatory Messages Against GST Officer on WhatsApp

29 August 2024 at 13:57

The ICAI concludes an investigation into CA Anil Thakur under Section 21A(3) of the Chartered Accountants Act, 1949, after GST officer Shri Golden Jain accused him of spreading defamatory messages on a private WhatsApp group.

Posted in GST | 1 comments | 14475 Views

Hindustan Unilever Hit with Rs 962.75 Crore Tax Notice Over Rs 3K Crore GSK Deal

29 August 2024 at 09:15

Recently, one of the FMCG company giants of India, Hindustan Unilever Limited or HUL disclosed that they received a hefty tax demand, amounting to Rs 962.75 crore, including Rs 329. 33 crore in interest.

Posted in Income Tax | 924 Views

GST Department Slaps Yes Bank with Rs 24 Lakh Penalty

29 August 2024 at 09:14

The Yes Bank has been penalized by the Goods and Services Tax (GST) Department, Maharashtra that raised demand for disallowance of input tax credit (ITC) along with interest and also demand for penalty of Rs. 24,92,978/-.

Posted in GST | 4092 Views