CAclubindia News

Finance companies urge RBI to avoid GST by not renaming penal interest as 'charges'

16 May 2023 at 08:45

The Finance Industry Development Council, a representative body of NBFCs in India, has requested the Reserve Bank of India (RBI) not to classify penal interest as 'charges' due to potential tax implications.

Posted in GST | 4497 Views

Online gaming companies in limbo as GST authorities struggle to take action after Gameskraft probe

16 May 2023 at 08:45

Dark clouds loom over the post-probe move against online gaming companies by GST Authorities after a ruling by Karnataka High Court in the Gameskraft matter.

Posted in GST | 5238 Views

Business community applauds crackdown on fake GST registrations

15 May 2023 at 08:38

Industrialists, who had been asking GST departments to take action against the rising menace of bogus billing, have welcomed the central government’s move on holding a special all-India drive

Posted in GST | 4020 Views

Automated GST Scrutiny to trigger notices in cases of data mismatches

15 May 2023 at 08:38

The central government's rollout of automated scrutiny of Goods and Services Tax (GST) returns this week could lead to assessees getting notices in cases where there are data mismatches between different types of tax returns, said experts.

Posted in GST | 6996 Views

MCA implements stringent norms for closure of firms

15 May 2023 at 08:38

Ministry of corporate affairs has introduced fresh conditions for companies that wish to de-register with the RoC.

Posted in Corporate Law | 4332 Views

FM highlights investments via PLI schemes as top priority for economic growth

15 May 2023 at 08:38

Finance Minister Nirmala Sitharaman stressed the government’s priority to incentivise and encourage expenditures in India through production-linked incentive (PLI) schemes

Posted in Others | 3729 Views

IT department considers imposing tax on Netflix's India Operations

13 May 2023 at 08:50

India is taking steps to impose tax on income generated by Netflix Inc's from streaming services in the country.

Posted in Income Tax | 6786 Views

IT dept launches Excel-based utility of ITR-2 for AY 2023-24

13 May 2023 at 08:48

Excel Utility of ITR-2 for AY 2023-24 is available for filing

Posted in Income Tax | 4314 Views

24 major importers evade Rs 11,000 crore GST payments

13 May 2023 at 08:48

The Directorate General of GST Intelligence (DGGI) and Directorate of Revenue Intelligence (DRI) have detected alleged Integrated GST evasion to the tune of ₹11,000 crore by 24 large importers.

Posted in GST | 2877 Views

RBI directs banks to extend priority loans to GST-Exempted informal units with UAC

12 May 2023 at 08:50

RBI has informed all financial institutions including banks and NBFCs to treat informal micro enterprises (IMEs) not covered under the GST regime or exempted from the CGST Act, 2017, but having the Udyam Assist Certificate (UAC) as micro enterprises

Posted in Others | 3459 Views