CAclubindia News

Hindustan Zinc Faces Rs 12.7 Crore GST Notice

13 January 2024 at 08:59

Hindustan Zinc disclosed on Friday that it has received a goods and services tax (GST) notice from the Principal Commissioner, Central Excise & CGST Commissionerate, citing an "interpretational issue."

Posted in GST | 3204 Views

Interim Budget 2024: Government Eyes Simplification of Withholding Tax Provisions

13 January 2024 at 08:59

In a significant move aimed at simplifying the tax framework and fostering a business-friendly environment, India is undergoing a comprehensive review of its withholding tax provisions.

Posted in Union Budget | 2958 Views

Vodafone Idea Faces Rs 13.16 Crore Penalty in GST Case

12 January 2024 at 14:09

In a recent regulatory filing on Thursday, Vodafone Idea disclosed that the GST additional commissioner's office in Chandigarh has imposed a hefty penalty of Rs. 13.16 crore on the telecom giant.

Posted in GST | 4041 Views

DGGI Unveils Staggering 119% Surge in Duty Evasion Cases for 2023, totaling Rs 1.98 Lakh Crore

12 January 2024 at 14:08

In 2023, DGGI detected 6,323 cases involving evasion of duty of Rs. 1,98,324 crore; 119% increase in detecting cases Year-on-Year

Posted in GST | 2667 Views

Direct Tax Collections Soar: 80.61% of Budget Estimates Achieved in FY 2023-24

12 January 2024 at 11:36

Gross Direct Tax collections at Rs. 17.18 lakh crore with Y-o-Y growth of 16.77%, as on 10th January, 2024

Posted in Income Tax | 2460 Views

CBIC unveils 'Samay' app to expedite tax appeal resolution and reduce litigation time

12 January 2024 at 09:11

In a significant move to enhance efficiency and reduce the time taken for tax appeals, the Central Board of Indirect Taxes & Customs (CBIC) is set to roll out a new mobile application named 'Samay.'

Posted in GST | 5040 Views

IT Dept conducts search operations in Mumbai engaged in the manufacturing of electrical items

12 January 2024 at 09:10

Income Tax Department initiated search and seizure operations in the case of a group, engaged in the manufacturing of wires and cables and other electrical items on 22.12.2023.

Posted in Income Tax | 2682 Views

Income Tax Department Mandates LEI for Non-Individuals with Refunds over Rs 50 Crore

11 January 2024 at 09:18

In a recent announcement, the Income Tax Department has introduced a new requirement for non-individual entities regarding the Credit of Refunds exceeding Rs. 50 crore.

Posted in Income Tax | 10779 Views

Assessment Year 2024 Poised for a 20% Drop in Late-Filed ITRs, Reveals Latest Report

11 January 2024 at 09:17

The State Bank of India's recent report on income tax filings reveals a significant uptick in the number of individuals filing income tax returns in the assessment year 2022-23 (AY23).

Posted in Income Tax | 2964 Views

Withdrawal of E-Way Bill Generation Restriction Without e-Invoice/IRN

10 January 2024 at 16:33

As of January 10, 2023, the earlier decision to restrict the creation of E-Way Bills exclusively to those accompanied by e-Invoice/IRN has been reversed, as per the recent update in the GST E-way bill system.

Posted in GST | 24840 Views