CAclubindia News

Massive Rs 8,100 Crore GST Evasion Uncovered: 4,909 Fake Businesses Busted

16 June 2023 at 08:41

The Madhya Pradesh GST department has detected a major case of GST evasion to the tune of more than ₹ 8,100 crore. The investigation revealed that the evasion was carried out through 4,909 bogus business establishments spread across the country.

Posted in GST | 3183 Views

Guidelines released by CBIC for GST Registration Application Processing

15 June 2023 at 08:45

Central Board of Indirect Taxes and Customs (CBIC) has issued Important Guidelines for processing of applications for GST registration. These guidelines were issued on June 14, 2023, in order to prevent the menace of fake or bogus registrations.

Posted in GST | 16680 Views

Massive GST Evasion: Rs. 30,000 Crore unearthed

15 June 2023 at 08:43

A nationwide crackdown by the Goods and Services Tax (GST) authorities has unearthed tax evasion to the tune of ₹30,000 crore.

Posted in GST | 5616 Views

CMA institute to no longer use the acronym ICAI after Delhi High court order

14 June 2023 at 09:02

The Institute of Cost Accountants of India (ICMAI) has decided to no longer use the acronym ICAI after the Institute of Chartered Accountants of India (ICAI) won a trademark infringement lawsuit against them.

Posted in Professional Resource | 21765 Views

New Forms 34C to 34EA introduced for Advance Ruling Filings

14 June 2023 at 09:01

The Income-tax (Ninth Amendment) Rules, 2023 were notified by the Central Board of Direct Taxes (CBDT) on June 12, 2023. The amendment aims to improve the efficiency and effectiveness of the Income-tax Act, 1961.

Posted in Income Tax | 10473 Views

CBDT notifies e-advance rulings (Amendment) Scheme, 2023

14 June 2023 at 09:00

The e-advance rulings (Amendment) Scheme, 2023 was notified by the Central Board of Direct Taxes (CBDT) on June 12, 2023.

Posted in Income Tax | 5844 Views

Former CBIC Chairperson Urges GST Council to Differentiate Taxation for Betting and Skill-based Online Games

14 June 2023 at 08:59

Former chairperson of the Central Board of Indirect Taxes and Customs (CBIC) John Joseph has said that the Goods and Services Tax (GST) Council must differentiate between skill-based and betting-based online games before taxing them.

Posted in GST | 2946 Views

2-Factor Authentication mandatory for taxpayers with AATO above Rs.100 crore from 15th July 2023

13 June 2023 at 08:55

To enhance the security of e-Way Bill/e-Invoice System, NIC is introducing 2-Factor Authentication for logging in to e-Way Bill/e-Invoice system. In addition to username and password, OTP will also be authenticated for login.

Posted in GST | 16803 Views

CBIC considers introducing prefilled consolidated GST return forms, similar to Income Tax Filing

13 June 2023 at 08:52

CBIC is considering introducing pre-filled consolidated GST return forms, similar to the Annual Information Statement (AIS) used by the Income Tax department.

Posted in GST | 9939 Views

Banks express concern over liquidity ahead of advance tax outflow and GST

13 June 2023 at 08:51

The Reserve Bank of India (RBI) conducted a variable rate reverse repo (VRRR) auction on Friday, but banks remained reluctant to park funds with the central bank.

Posted in GST | 3696 Views