GST Rate Hike to 18% on Sale of Old and Used Vehicles, Including EVs
On December 19, 2024, the Maharashtra Legislative Council passed the Maharashtra Goods and Services Tax (Amendment) Bill, following its approval in the state assembly.
Developers receive notices for ITC claimsSeveral real estate developers have received show-cause notices from the Goods and Services Tax (GST) authorities regarding input tax credit (ITC) claims worth an estimated ₹3,500 crore.
Extravagant Weddings Under ScrutinyLavish Indian weddings, often featuring Bollywood celebrities and elaborate arrangements costing crores, are now a target for the Income Tax department.
Recommendations of the 55th Meeting of the GST Council
The GST Council, chaired by Union Finance Minister Nirmala Sitharaman, is set to address several critical issues in its meeting scheduled for December 21, 2024, in Jaisalmer.
The Maharashtra government has announced a GST Amnesty Scheme to waive interest and penalties on pending liabilities for the fiscal years 2017 to 2020.
In a recent announcement, the Income Tax Department has acknowledged and withdrawn defective return notices mistakenly issued to taxpayers who had accurately filed their Income Tax Returns (ITRs) for the Assessment Year 2024-25.
The Institute of Chartered Accountants of India (ICAI) has announced that the results for the CA Final Examinations conducted in November 2024 are expected to be released on Thursday, 26th December 2024, late evening.
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).
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