CAclubindia News

CBIC Uncovers Rs 26,543 Crore GST Evasion in Nationwide Drive Against Fake ITC

20 December 2024 at 09:07

In a sweeping crackdown on GST evasion, the Central Board of Indirect Taxes and Customs (CBIC) has unearthed fraud amounting to Rs 26,543 crore during its second nationwide operation against fake input tax credit (ITC).

Posted in GST | 2226 Views

Indian Gaming Industry Faces February 2025 Deadline for GST Tax Demands on Betting

20 December 2024 at 09:06

The Indian online gaming industry faces a pivotal moment as tax authorities prepare to finalize Goods and Services Tax (GST) demands by February 5, 2025, based on pending show-cause notices (SCNs).

Posted in GST | 804 Views

CBDT Exempts Credit Guarantee Fund Trust for Micro and Small Enterprises from TDS

20 December 2024 at 09:03

In a significant move to bolster micro and small enterprises (MSEs), the Central Board of Direct Taxes (CBDT) has issued Notification No. 128/2024, dated December 18, 2024.

Posted in Income Tax | 1620 Views

CAG Flags Revenue Loss of Rs 18,509.8 Crore Due to Tax Errors and Evasion

20 December 2024 at 09:02

The Comptroller and Auditor General (CAG) of India, in its latest report tabled in Parliament, highlighted widespread lapses in income tax assessments and GST compliance, causing a potential revenue loss of Rs 18,509.8 crore.

Posted in GST | 2097 Views

CBIC Chairman launches new initiatives to enhance taxpayer services

19 December 2024 at 09:00

CBIC Chairman Shri Sanjay Kumar Agarwal, in presence of Members of the Board, launches new initiatives to enhance taxpayer services

Posted in GST | 1173 Views

FM Nirmala Sitharaman Calls Q2 GDP Slowdown a "Temporary Blip"

19 December 2024 at 08:58

Finance Minister Nirmala Sitharaman addressed concerns in the Lok Sabha over the recent slowdown in India's GDP growth during the second quarter of FY 2025, assuring that the dip is a "temporary blip"

Posted in Others | 501 Views

55th GST Council Meeting: Possible GST Relief on Food Delivery Charges

19 December 2024 at 08:52

The 55th GST Council meeting, scheduled to take place on December 21 in Jaisalmer, Rajasthan, could bring significant relief to consumers ordering food via e-commerce platforms.

Posted in GST | 2052 Views

ICAI Foundation Course Registration: Last Date to Apply for May 2025 Exam is 1st January 2025

19 December 2024 at 08:49

The last date to register for the Foundation Course, for eligibility to appear in the May 2025 Foundation Examination, is January 1, 2025.

Posted in Students | 1881 Views

GSTN Issues Advisory for Entry of RR No./eT-RRs in EWB system Post EWB-FOIS Integration

19 December 2024 at 08:48

Guidance for Accurate Entry of RR No./eT-RRs following the Integration of E-Way Bill (EWB) with Freight Operation Information System (FOIS) system of Indian Railways.

Posted in GST | 2253 Views

Record-Breaking Tax Collections: Direct Tax Revenue Up 20%, Advance Tax Surges 21%

19 December 2024 at 08:48

India's direct tax collections for the financial year 2024-25, as of December 17, 2024, have demonstrated robust growth, with gross collections reaching ₹19.22 lakh crore - a remarkable 20.32% increase compared to the same period in FY 2023-24

Posted in Income Tax | 1425 Views