CAclubindia News

Accountant Accused of Rs 5 Crore GST Scam Using Defunct Factory's GST Number

19 October 2024 at 08:05

In a shocking incident from Jamnagar, a local accountant has been accused of scamming a factory owner by fraudulently reactivating a defunct GST number.

Posted in GST | 714 Views

CBDT Releases Updated TDS Rates for FY 2024-25

18 October 2024 at 09:13

The Central Board of Direct Taxes (CBDT) has announced revised TDS rates for the financial year 2024-25, applicable for the assessment year 2025-26.

Posted in Income Tax | 16197 Views

CBDT Exempts RBI from TCS Requirement under Section 206C(1F) of the Income Tax Act

18 October 2024 at 09:13

CBDT has issued Notification No. 115/2024, dated October 16, 2024, exempting the Reserve Bank of India (RBI) from the requirement of tax collection at source (TCS) under Section 206C(1F) of the Income Tax Act, 1961

Posted in Income Tax | 3834 Views

CBDT issues Revised Guidelines for Compounding Offences under IT Act 1961

18 October 2024 at 09:12

CBDT has issued Revised Guidelines for Compounding of offences under the Income-tax Act, 1961(the 'Act') on 17.10.2024.

Posted in Income Tax | 1830 Views

CBDT releases Updated Time Series data upto FY 2023-24

18 October 2024 at 09:11

The Central Board of Direct Taxes (CBDT) has released updated Time-Series data up to FY 2023-24.

Posted in Income Tax | 972 Views

GST Fraud Crackdown: Commissioner Unveils New Tactics, Biometric Tech to Catch Masterminds

18 October 2024 at 09:10

Since the introduction of the Goods and Services Tax (GST) in 2017, a sophisticated scam has flourished, exploiting systemic loopholes and siphoning thousands of crores from the exchequer each year.

Posted in GST | 1125 Views

Finance Ministry Amends GST Recruitment Rules 2024: OBC Inclusion & Qualification Relaxation

18 October 2024 at 09:09

Ministry of Finance has issued Notification No. 109 (F. No. A-50050/2/2024-Ad.I) dated October 16, 2024, amending the Goods and Services Tax (GST) Council Secretariat, Group ‘A’ Executive Posts Recruitment Rules, 2018

Posted in GST | 3480 Views

GSTN Releases Additional FAQs on IMS

18 October 2024 at 09:09

Invoice Management System (IMS) is now available to taxpayers. This new system shall facilitate taxpayers in matching their records/invoices vis a vis issued by their suppliers for availing the correct Input Tax Credit (ITC).

Posted in GST | 909 Views

CBDT Amends IT Rules for Easier TCS/TDS Credit Claims by Salaried Employees and Parents of Minors

17 October 2024 at 16:38

CBDT Notifies Amendments in Income-tax Rules for Ease in Claiming Credit for TCS Collected/TDS Deducted for Salaried Employees and Enabling claiming TCS Credit of Minors in the Hands of Parents

Posted in Income Tax | 2139 Views

GSTN to Implement Hard Locking of Auto-Populated GSTR-3B Values by January 2025

17 October 2024 at 15:05

In order to assist taxpayers in filing their returns and minimizing human errors, GSTN has continuously improved the GST return filing process and in this endeavor the GST Portal now provides a pre-filled GSTR-3B form

Posted in GST | 2433 Views