Since the introduction of the Goods and Services Tax (GST) in 2017, a sophisticated scam has flourished, exploiting systemic loopholes and siphoning thousands of crores from the exchequer each year.
Ministry of Finance has issued Notification No. 109 (F. No. A-50050/2/2024-Ad.I) dated October 16, 2024, amending the Goods and Services Tax (GST) Council Secretariat, Group ‘A’ Executive Posts Recruitment Rules, 2018
Invoice Management System (IMS) is now available to taxpayers. This new system shall facilitate taxpayers in matching their records/invoices vis a vis issued by their suppliers for availing the correct Input Tax Credit (ITC).
CBDT Notifies Amendments in Income-tax Rules for Ease in Claiming Credit for TCS Collected/TDS Deducted for Salaried Employees and Enabling claiming TCS Credit of Minors in the Hands of Parents
In order to assist taxpayers in filing their returns and minimizing human errors, GSTN has continuously improved the GST return filing process and in this endeavor the GST Portal now provides a pre-filled GSTR-3B form
The Central Board of Direct Taxes (CBDT) has issued Notification No. 112/2024 on October 15, 2024, introducing significant modifications to the Income-tax (Eighth Amendment) Rules, 2024.
The Central Board of Direct Taxes (CBDT) has announced significant amendments to the Income-tax Rules through Notification No. 111/2024, dated October 15, 2024.
Taxpayers are now seeing reversals required under Rule 37A reflected in their September GSTR-2B, showing the Input Tax Credit (ITC) that must be reversed due to the non-filing of GSTR-3B by suppliers for FY 2023-24.
The Income Tax Department is gearing up to introduce a new and improved e-filing portal, as part of Project IEC 3.0, to replace the current platform (IEC 2.0). ..
The Central Board of Direct Taxes (CBDT), in collaboration with the field units of the Income Tax Department, is actively implementing Special Campaign 4.0
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