As per Notification No. 2/2017-Central Tax dated 19th June, 2017 read with Trade Notice No. 01/2017-Central Tax dated 21st June, 2017 issued by Office of the Chief Commissioner of Central Excise, Mumbai Zone I and GST Trade Notice No. 002/2017
98.04% of the Rs 2000 banknotes in circulation as on May 19, 2023, has been returned.
In a recent development, Truecaller, the Stockholm-based caller identification and spam-blocking app, confirmed that it is cooperating with Indian income tax authorities following raids on its offices in Noida, Mumbai and Bengaluru.
In a significant move aimed at enhancing the ease of doing business, the CBIC has issued a directive to customs field formations, emphasizing transparency and efficiency in conducting investigations related to export and import fraud
With the end of the year approaching, the GST Council may soon bring significant relief to policyholders of life and health insurance.
CBDT is reportedly exploring a restructuring of designations within the Income Tax Department. This initiative aims to make roles more understandable for the public and create a transparent image of the department, aligning titles with responsibilities.
In a major success for tax authorities, GST officers have unearthed around 18,000 fake companies involved in a large-scale tax evasion scheme, totalling approximately ₹25,000 crore.
CBIC Judicial Cell, through its Instruction No. F. No. 390/Misc/3/2019-JC dated November 5, 2024, has released comprehensive guidelines for the conduct of personal hearings under various tax laws
Advisory: Time Limit for Reporting e-Invoice on the IRP Portal - Lowering of Threshold to AATO 10 Crores and Above
It has been observed that some taxpayers have paid the demanded amount vide DRC 07/DRC 08/MOV 09/MOV 11/APL 04 through DRC-03 instead of using payment facility ‘Payment towards demand’ available on GST portal.
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