CAclubindia News

Direct Tax Code Overhaul Expected in Budget 2025 to Cut Litigation and Simplify Compliance

14 November 2024 at 09:26

As the Union Budget 2025 approaches, the CBDT is reportedly focused on introducing a streamlined version of India’s income tax laws.

Posted in Income Tax | 4914 Views

ICAI Announces Mock Test Series for CA Foundation January 2025 Exams

14 November 2024 at 06:41

The Board of Studies is commencing Mock Test Papers Series - I & Series II from for Students appearing in CA Foundation Course for January 2025 Examinations.

Posted in Students | 885 Views

GST Council May Grant Tax Relief on Health and Term Insurance for Senior Citizens in Dec 2024 Meeting

14 November 2024 at 06:41

The upcoming GST Council meeting in Rajasthan on December 21-22, 2024, may bring potential tax relief for insurance policyholders.

Posted in GST | 1608 Views

CBDT Grants Tax Exemption to Petroleum and Natural Gas Regulatory Board Effective from AY 2024-25

14 November 2024 at 06:41

On November 12, 2024, the Central Board of Direct Taxes (CBDT) issued a notification granting tax-exempt status to the Petroleum and Natural Gas Regulatory Board (PNGRB) under section 10(46A)(b) of the Income-tax Act, 1961.

Posted in Income Tax | 1812 Views

GSTN Issues Advisory on IMS on Supplier View

14 November 2024 at 06:41

Invoice Management System (IMS) has been made available on the GST Portal from 14th October, 2024 wherein the recipient taxpayer can accept, reject or keep the invoices pending which are saved/filed by their suppliers in their respective GSTR-1/1A/IFF.

Posted in GST | 3168 Views

ICAI Announces Mock Test Series for CA Intermediate January 2025 Exams

14 November 2024 at 06:41

In preparation for the January 2025 CA Intermediate Examinations, the Institute of Chartered Accountants of India (ICAI) Board of Studies has announced two rounds of mock test papers, scheduled to begin on November 18, 2024.

Posted in Students | 2352 Views

NFRA Recommends Comprehensive New Audit Framework for India by April 2026

13 November 2024 at 09:34

NFRA recommends revision of the Standard quality control (SCQ1) and Standard quality management (SQM1 and SQM2), on the lines of the global Standards

Posted in Audit | 3561 Views

India's Online Gaming Market Surges by 23% in FY24 Amidst GST Hike

13 November 2024 at 06:56

India's gaming market surged by 23% year-on-year, reaching $3.8 billion in revenue in FY 2023-24, even as the sector faces a 28% GST on online gaming, recent reports reveal.

Posted in GST | 720 Views

New IMS on GST Portal Aims to Curb ITC Discrepancy Notices and Reduce Litigation

13 November 2024 at 06:54

The Goods and Services Tax (GST) portal's recently launched Invoice Management System (IMS) is set to significantly decrease the number of notices issued over Input Tax Credit (ITC) discrepancies

Posted in GST | 2124 Views

GSTN Issues Advisory regarding IMS during initial phase of its implementation

13 November 2024 at 06:52

Invoice Management System (IMS) is an optional facility introduced from October 2024 on GST Portal, on which the invoices/records saved/furnished by the supplier in GSTR-1/1A/IFF

Posted in GST | 918 Views