CAclubindia News

Over 4 Lakh Businesses to Issue E-invoices from 1st Aug 2023

01 August 2023 at 08:50

As of August 1, there will be a significant change in the mandatory e-invoicing requirements in India. The aggregate annual turnover threshold for issuing e-invoices will be lowered from ₹10 crore to ₹5 crore.

Posted in GST | 11334 Views

CBDT Issues SOP for Recomputation of Co-operative Sugar Manufacturers' Income u/s 155(19) of IT Act

31 July 2023 at 08:43

CBDT vide Circular No. 14 of 2023 dated July 27, 2023 issued SOP for making application for recomputation of total income of a co-operative society engaged in the business of manufacture of sugar, as provided for in the sub-section (19) of section 155

Posted in Income Tax | 2901 Views

IT Dept to Utilize AI Regression Model for Detecting Deviations: Tax Official

31 July 2023 at 08:42

The usage of artificial intelligence (AI) by the Income Tax department to build regression models is aimed at identifying deviations and errors in tax filing.

Posted in Income Tax | 30894 Views

GSTN Introduces Mandatory CA/EC Number Tabs in State Specific Information Section

31 July 2023 at 08:41

GSTN has introduced new tabs in the 'State Specific Information' section of the GST registration form to collect Consumer Agreement (CA) or Electricity Consumer (EC) numbers.

Posted in GST | 21900 Views

IT Department Conducts Raids on Haier Offices in Noida, Mumbai and Pune

29 July 2023 at 12:06

Income Tax Department (I-T) is currently conducting searches at multiple locations in Mumbai, Pune, and Noida, including the offices and premises of promoters of Chinese home appliance company Haier.

Posted in Income Tax | 5292 Views

Over 5 crore ITRs filed for AY 2023-24 by 27th July breaking last year's record

29 July 2023 at 10:32

The fact that over 5 crore ITRs have already been filed till 27th July 2023, as compared to 30th July last year, shows a commendable commitment to meeting tax obligations promptly.

Posted in Income Tax | 14025 Views

Govt Accepts Panel's Recommendation for Online GST Audit Mechanism

29 July 2023 at 08:58

Union government has accepted the recommendation to set up an online audit mechanism under the Goods and Services Tax (GST) to streamline the process.

Posted in GST | 1 comments | 3873 Views