CAclubindia News

Finance Ministry Assures Sufficiency of GST Compensation Cess Fund

06 January 2025 at 08:54

The Finance Ministry has addressed concerns regarding the adequacy of the GST Compensation Cess Fund, emphasizing that there is no shortfall in meeting compensation and loan repayment obligations.

Posted in GST | 996 Views

Ministry of Civil Aviation Denies Digi Yatra Data Sharing with Tax Authorities

06 January 2025 at 08:54

The Ministry of Civil Aviation has strongly refuted claims that passenger data from the Digi Yatra app is being shared with Indian tax authorities.

Posted in Income Tax | 756 Views

Union Budget 2025: Tax Incentives for Fixed Deposits on the Table to Boost Middle-Class Savings

06 January 2025 at 08:54

As the Union Budget 2025 approaches, Finance Minister Nirmala Sitharaman is actively engaging with representatives from the financial sector to consider key recommendations aimed at boosting middle-class savings.

Posted in Union Budget | 1 comments | 2301 Views

CAG Invites Online Applications for Empanelment of CA Firms/LLPs for 2025-26

06 January 2025 at 08:54

The Office of the Comptroller and Auditor General (CAG) of India has issued a public announcement inviting Chartered Accountant firms and LLPs to apply for empanelment for the financial year 2025-26.

Posted in Professional Resource | 5751 Views

GST Notice Issued to Pani Puri Vendor Over Rs 40 Lakh Digital Transactions

04 January 2025 at 13:59

In a surprising turn of events, a pani puri vendor has come under the scrutiny of the GST department after reportedly receiving payments amounting to Rs. 40 lakh annually.

Posted in GST | 2 comments | 18744 Views

Gujarat Records 19% Growth in GST Revenue in Q3 FY 2024-25

04 January 2025 at 09:01

Gujarat has reported a 19% increase in revenue under the Goods and Services Tax (GST) during the third quarter (Q3) of the financial year 2024-25, as compared to the same period last year.

Posted in GST | 585 Views

ICAI Submits Suggestions on Comprehensive Review of the IT Act 1961 and Pre-Budget Memorandum 2025

04 January 2025 at 08:58

Explore ICAI's preliminary inputs on the Comprehensive Review of the Income-tax Act, 1961, discussed during a stakeholder consultation chaired by the Revenue Secretary on September 18, 2024

Posted in Union Budget | 3399 Views

CBDT Issues Key Income Tax Exemptions for Credit Guarantee Entities and IFSC Units

04 January 2025 at 08:57

The Central Board of Direct Taxes (CBDT) has issued three significant notifications under the Income-tax Act, 1961, aimed at tax relief and compliance facilitation, effective from January 1, 2025.

Posted in Income Tax | 1695 Views

Online Popcorn and Movie Ticket Combo May Attract 12-18% GST

03 January 2025 at 09:03

Consuming popcorn at a movie theatre could soon cost you more, depending on how it is served and bundled with movie tickets.

Posted in GST | 1938 Views

Income Tax Department to Update ITR Forms for Section 87A Tax Rebate Claims for FY 2023-24

03 January 2025 at 09:02

The Income Tax Department has announced a major relief for resident individuals eligible to claim the Section 87A tax rebate for FY 2023-24 but were unable to do so earlier.

Posted in Income Tax | 5349 Views