CAclubindia News

Entry-Level GST Ruling May Cut Tax for E-Gaming Firms

23 August 2023 at 08:46

The key issue revolves around whether the 28% GST should be applied to the full face value of bets only at the entry level or at every stage of betting.

Posted in GST | 2367 Views

Mera Bill Mera Adhikar Scheme: App launched by GOI to earn cash prizes on uploading GST bill

22 August 2023 at 14:30

The 'Mera Bill Mera Adhikar' invoice incentive scheme is an initiative launched by the Indian government to encourage customers to request bills for their purchases and to promote the use of genuine invoices in business-to-consumer transactions.

Posted in GST | 43539 Views

CBDT | Rent-Free Accommodation Taxed as Perquisite

22 August 2023 at 08:50

The Income tax (Eighteenth Amendment), Rules, 2023 was notified by the Central Board of Direct Taxes (CBDT) on August 18, 2023. These rules amend the Income-tax Rules, 1962, with effect from September 1, 2023.

Posted in Income Tax | 4806 Views

CBDT Issues Exchange Rate Notification for Foreign Currency TDS Deductions

22 August 2023 at 08:49

The Income-tax (Seventeenth Amendment) Rules, 2023 was notified by the Central Board of Direct Taxes (CBDT) on August 17, 2023. The amendment has made changes to the Income-tax Rules, 1962

Posted in Income Tax | 7515 Views

10 People Held for Rs 15,000 Crore GST Fraud in Noida

22 August 2023 at 08:48

The Noida Police has issued non-bailable warrants against 10 people for defrauding the government of ₹15,000 crore by using fake input tax credit (ITC) documents.

Posted in GST | 12135 Views

50 Year Old Man Held for GST Invoice Fraud Worth Rs 147 Crore

22 August 2023 at 08:47

A 50-year-old man from Nerul, Navi Mumbai, has been arrested by the anti-evasion cell of the Central GST Belapur Commissionerate for his alleged role in a Rs 147 crore GST invoice scam

Posted in GST | 3765 Views

CBDT operationalises Advance Rulings in Delhi and Mumbai

21 August 2023 at 08:40

The Central Board of Direct Taxes constituted three Boards for Advance Rulings in September, 2021.

Posted in Income Tax | 2460 Views

CBDT notifies Rule for determination of value of perquisite in respect of residential accommodation provided by employer

21 August 2023 at 08:39

The Finance Act, 2023 brought in an amendment for the purposes of calculation of "perquisite" with regard to the value of rent-free or concessional accommodation provided to an employee, by his employer.

Posted in Income Tax | 8478 Views

ICAI | Revisions to Institute Document Authority and Quality Control Standards

21 August 2023 at 08:37

Amendment to the "Clarification Regarding Authority Attached to Documents Issued by the Institute" and Consequential Amendment to the "Preface to the Standards on Quality Control, Auditing, Review, Other Assurance and Related Services"

Posted in Professional Resource | 21276 Views

Income Tax Dept Introduces Challan Correction Facility for Easy Tax Payment Modifications

19 August 2023 at 08:31

The Income Tax India portal has introduced a new feature called "Challan Correction," accessible through the path Dashboard > Services > Challan Correction.

Posted in Income Tax | 13299 Views