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New Income Tax Regime Faces Potential Tweaks for Further Enhancements

   15 January 2024 at 08:31

Government sources, speaking on condition of anonymity, reveal that any further shift of taxpayers to the concessional personal income tax regime might necessitate additional tweaks for increased attractiveness.

Posted in Income Tax |   5508 Views


Income Tax Raid on 4 Noida Builders Yields Rs 1500 Crore Unaccounted Cash

   15 January 2024 at 08:28

40 Teams, 250 Officials Deployed in Intensive 6-Day Search on Bhutani Infra, Group 108, Advent, and Logix

Posted in Income Tax |   7266 Views


Gujarat HC Demands Accountability from GST Officials for Cryptic Notices

   15 January 2024 at 08:27

The Gujarat High Court has taken a stern stance on the cryptic nature of notices surrounding the cancellation and suspension of GST registrations, demanding the presence of three senior officials from both the state and central GST departments

Posted in GST |   5442 Views


Cabinet Grants Approval for Two-Winged Transformation of State Taxes and Excise Administration

   13 January 2024 at 16:28

In a groundbreaking decision aimed at bolstering administrative efficiency, the Cabinet has granted approval for the restructuring of the State Taxes and Excise department.

Posted in GST |   3342 Views


LIC Receives Rs 3529 Crore GST Demand Notice From Mumbai Tax Authority

   13 January 2024 at 09:01

LIC has been served a GST demand notice of Rs 3,529 crore by Mumbai's tax authorities. This comes in addition to a series of notices received earlier this month, totaling significant amounts and spanning various states.

Posted in GST |   3186 Views


Hindustan Zinc Faces Rs 12.7 Crore GST Notice

   13 January 2024 at 08:59

Hindustan Zinc disclosed on Friday that it has received a goods and services tax (GST) notice from the Principal Commissioner, Central Excise & CGST Commissionerate, citing an "interpretational issue."

Posted in GST |   3213 Views


Interim Budget 2024: Government Eyes Simplification of Withholding Tax Provisions

   13 January 2024 at 08:59

In a significant move aimed at simplifying the tax framework and fostering a business-friendly environment, India is undergoing a comprehensive review of its withholding tax provisions.

Posted in Union Budget |   2982 Views


Vodafone Idea Faces Rs 13.16 Crore Penalty in GST Case

   12 January 2024 at 14:09

In a recent regulatory filing on Thursday, Vodafone Idea disclosed that the GST additional commissioner's office in Chandigarh has imposed a hefty penalty of Rs. 13.16 crore on the telecom giant.

Posted in GST |   4104 Views


DGGI Unveils Staggering 119% Surge in Duty Evasion Cases for 2023, totaling Rs 1.98 Lakh Crore

   12 January 2024 at 14:08

In 2023, DGGI detected 6,323 cases involving evasion of duty of Rs. 1,98,324 crore; 119% increase in detecting cases Year-on-Year

Posted in GST |   2682 Views


Direct Tax Collections Soar: 80.61% of Budget Estimates Achieved in FY 2023-24

   12 January 2024 at 11:36

Gross Direct Tax collections at Rs. 17.18 lakh crore with Y-o-Y growth of 16.77%, as on 10th January, 2024

Posted in Income Tax |   2475 Views



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