CAclubindia News

CGST Section 16 Revised: Taxpayers Gain Relief with New ITC Claim Provisions for 2017-2021

28 September 2024 at 15:59

In a significant update to the Central Goods and Services Tax (CGST) Act, Section 16 has been amended with the insertion of two new sub-sections.

Posted in GST | 46125 Views

Finance Ministry Notifies Effective Dates for Various Provisions of the Finance (No. 2) Act, 2024

28 September 2024 at 09:30

The Ministry of Finance has issued Notification No. 17/2024-Central Tax on September 27, 2024, outlining the commencement dates for several provisions of the Finance (No. 2) Act, 2024.

Posted in GST | 9162 Views

Kerala Government's Move to Push Taxation Laws Amendment Ordinance Raises Concerns Ahead of Assembly Session

28 September 2024 at 09:24

The Kerala government's decision to promulgate the Kerala Taxation Laws Amendment 2024 Ordinance has sparked debates about the appropriateness of the move, especially with the next Assembly session scheduled to begin on October 4.

Posted in GST | 300 Views

Income Tax Act Review Committee Set to Submit Report by October

28 September 2024 at 09:23

The government's comprehensive review of India’s decades-old Income Tax Act is making significant progress, with the review committee expected to submit its report by October, according to two government officials.

Posted in Income Tax | 1461 Views

GST Rate Rationalisation: GoM Considers Scrapping 12% Slab, Next Meeting Set for October 20

28 September 2024 at 09:21

The GoM on GST rate rationalisation, led by Bihar Deputy Chief Minister Samrat Chaudhary, is considering tax relief on more than 100 items to ease the burden on the common man.

Posted in GST | 1461 Views

Finance Ministry to Begin Pre-Budget Meetings from October 10

28 September 2024 at 09:19

The Finance Ministry will kick off its pre-budget discussions on October 10, 2024, starting with the review of key ministries such as New & Renewable Energy and Skill Development & Entrepreneurship.

Posted in Union Budget | 261 Views

Labourer Earning Rs 10K Per Month Shocked by Rs 2 Crore Income Tax Notice, Advised to File Appeal

27 September 2024 at 14:24

In a shocking case of bureaucratic oversight, a labourer from Bihar’s Gaya district, Rajiv Kumar Verma, has been served an income tax notice for over Rs 2 crore.

Posted in Income Tax | 1734 Views

MCA Introduces Measures to Address Concerns and Guide Stakeholders on MCA21 Portal Compliance

27 September 2024 at 09:16

Measures by MCA to address concerns and guide stakeholders for compliances on MCA21 Portal

Posted in Corporate Law | 516 Views

GoM Proposes GST Cut on Educational Materials, Hike for High-Value Apparel

27 September 2024 at 09:15

The Group of Ministers (GoM) on GST rate rationalisation, in its meeting held in Goa on Wednesday, expressed support for reducing the GST rate on education materials from 12% to 5% to provide relief to a broad section of the population.

Posted in GST | 360 Views

GoM Fails to Reach Consensus on GST Rate Rationalisation, Over 100 Items Reviewed

27 September 2024 at 09:11

The Group of Ministers (GoM) on GST rate rationalisation, which convened in Goa on Wednesday, reviewed GST rates for over 100 items, including textiles, handloom goods, agricultural products, fertilisers, and educational materials.

Posted in GST | 846 Views