CAclubindia News
Retailers Oppose 35% GST Slab, Urge Finance Minister and Council to Reconsider
14 December 2024 at 09:11The Indian Sellers Collective, a coalition of trade associations and sellers across India, has strongly opposed the proposal for a fifth GST slab with a 35% rate on demerit goods like aerated beverages, cigarettes, and tobacco.
West Bengal Passes GST Amendment Bill 2024 Aligned with Council Recommendations
14 December 2024 at 09:10West Bengal Finance Minister Chandrima Bhattacharya on Wednesday presented the West Bengal Goods and Services Tax (Amendment) Bill, 2024, aligning the state’s GST framework with recommendations ratified by the GST Council.
Income Tax Refunds Soar 46.31% to Rs 3.08 Lakh Crore in FY 2024-25 - Finance Ministry
14 December 2024 at 09:10The Ministry of Finance announced a remarkable 46.31% surge in income tax refunds issued during the period of April 1 to November 27 in the financial year 2024-25, compared to the same period in 2023-24.
CBDT Amends Notification on Tax Exemptions u/s 10(23FE) of Income-tax Act
13 December 2024 at 06:25In a recent development, the Central Board of Direct Taxes (CBDT) issued Notification No. 127/2024 dated December 11, 2024, amending its earlier notification (No. 44/2020) issued on July 6, 2020, under Section 10(23FE) of the Income-tax Act, 1961.
States Express Mixed Reactions to Proposed GST Rate Rationalisation Ahead of 55th GST Council Meeting
13 December 2024 at 06:25The GoM tasked with GST rate rationalisation has presented proposals that have elicited a mixed response from states, with many expressing concerns about the timing and economic implications of the changes.
Amit Shah Outlines Key Tax Benefits for Cooperative Societies in Rajya Sabha
13 December 2024 at 06:25The Government of India has taken various initiatives to provide the income tax relief to cooperative societies. This was stated by the Minister of Cooperation, Shri Amit Shah in a written reply to a question in the Rajya Sabha.
Payment Gateways Push for GST Waiver on Small-Value Transactions
13 December 2024 at 06:25Ahead of the GST Council meeting on December 21, payment gateway operators have submitted representations to the finance ministry opposing the proposed 18% GST on commissions earned on digital payments below ₹2,000.
Rs 824 Crore GST Evasion Uncovered in India's Cryptocurrency Sector
12 December 2024 at 09:13The Indian government has identified Goods and Services Tax (GST) evasion worth ₹824.14 crore across 17 cryptocurrency exchanges, as revealed by Minister of State for Finance Pankaj Chaudhary.
Income Tax Review Committee Aims to Simplify IT Act Without Changing Tax Rates
12 December 2024 at 09:13The Income-Tax Review Committee, tasked with overhauling India’s Income Tax Act of 1961, is focusing solely on simplifying the law to make it more concise and user-friendly.
Economic Affairs Secretary Ajay Seth Takes on Additional Role as Revenue Secretary
12 December 2024 at 09:09In a key administrative reshuffle, Economic Affairs Secretary Ajay Seth has been assigned the additional role of Secretary of the Revenue Department, effective immediately, as per a government order issued on Tuesday.
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