CAclubindia News

Bombay HC Declares Reassessment Proceedings Invalid for Non-Existent Entity with Active PAN

14 November 2023 at 08:37

In a recent judgment, the Bombay High Court has ruled against the validity of reassessment proceedings conducted by the tax department against non-existent entities, even though the Permanent Account Number (PAN) remained active.

Posted in Income Tax | 5544 Views

ICAI Welcomes Contributions for Self-paced Online Module Exam Question Bank

14 November 2023 at 08:36

Invitation for contribution to Question Bank in respect of Self-paced Online Module Examinations (Set-A & Set-B)

Posted in Professional Resource | 8106 Views

Gross Direct Tax Collections Surge to Rs. 12.37 Lakh Crore, Marking 17.59% YoY Growth in FY 2023-24

11 November 2023 at 08:44

The Gross Direct Tax collections are at Rs. 12.37 lakh crore, which is 17.59% higher than the gross collections for the corresponding period of last year. Direct Tax collection

Posted in Income Tax | 2322 Views

Advisory on Amnesty for Missed Appeal Filing Deadlines for Orders on or before March 31, 2023

11 November 2023 at 08:43

Advisory for the procedures and provisions related to the amnesty for taxpayers who missed the appeal filing deadline for the orders passed on or before March 31, 2023

Posted in GST | 5802 Views

October GST Collections Reflect Economic Activity, Not Tax Notices, Says CBIC

11 November 2023 at 08:42

In a recent statement, the CBIC revealed that the impressive rise in GST collections in October was primarily driven by robust economic activity within the country, dispelling rumors that it was solely due to tax notices issued to various companies.

Posted in GST | 4323 Views

Bombay HC Orders Income Tax Refund of Rs 1128 Crores to Vodafone Idea

10 November 2023 at 16:00

In a significant legal victory for Vodafone Idea Ltd, the Bombay High Court has ruled in favor of the telecom giant, ordering the Income Tax Department to refund INR 1,128.47 crores in taxes paid during the assessment year 2016-17, along with interest.

Posted in Income Tax | 5967 Views

FM Nirmala Sitharaman Stresses Inclusive Coverage of All Businesses under GST Ambit

10 November 2023 at 08:37

In a recent address, FM Nirmala Sitharaman highlighted the Finance Ministry's commitment to broadening the GST regime's reach, emphasizing the importance of including all businesses rather than merely focusing on revenue enhancement.

Posted in GST | 6579 Views

ICAI | Empanelment of CA firms/LLP by Office of C&AG from the empanelment year 2024-2025

10 November 2023 at 08:35

Empanelment of Chartered Accountant firms/LLP by Office of C&AG from the empanelment year 2024-2025

Posted in Professional Resource | 7221 Views

UltraTech Cement Faces GST Demand and Penalty Order of Rs. 2.28 Crore

09 November 2023 at 08:47

UltraTech Cement, a leading player in the cement industry, has encountered a GST setback as it received an order from the Assistant Commissioner, CGST & C. Ex Division 3, Bhavnaga

Posted in GST | 5520 Views

Gov Releases Rs 72,961.21 Crore Tax Devolution in Record Time

09 November 2023 at 08:46

Union Government authorises release of tax devolution of ₹72,961.21 crore to all State Governments for November, 2023; three days ahead of the usual date of 10th November

Posted in Income Tax | 2004 Views