CAclubindia News
Direct Tax Collections Soar 182% in 10 years, Hit Rs 19.60 Trillion in FY24
19 October 2024 at 08:05India's direct tax collections have seen an unprecedented surge of 182% in the decade under Prime Minister Narendra Modi's leadership, crossing ₹19.60 trillion in the fiscal year 2023-24.
GoM Discusses Merger of GST Compensation Cess into Main Tax Structure
19 October 2024 at 08:05The Group of Ministers (GoM) on GST Compensation Cess, led by Minister of State for Finance Pankaj Chaudhary, convened on October 16 to explore the potential merger of the compensation cess into the broader Goods and Services Tax (GST) framework.
Accountant Accused of Rs 5 Crore GST Scam Using Defunct Factory's GST Number
19 October 2024 at 08:05In a shocking incident from Jamnagar, a local accountant has been accused of scamming a factory owner by fraudulently reactivating a defunct GST number.
CBDT Releases Updated TDS Rates for FY 2024-25
18 October 2024 at 09:13The Central Board of Direct Taxes (CBDT) has announced revised TDS rates for the financial year 2024-25, applicable for the assessment year 2025-26.
CBDT Exempts RBI from TCS Requirement under Section 206C(1F) of the Income Tax Act
18 October 2024 at 09:13CBDT has issued Notification No. 115/2024, dated October 16, 2024, exempting the Reserve Bank of India (RBI) from the requirement of tax collection at source (TCS) under Section 206C(1F) of the Income Tax Act, 1961
CBDT issues Revised Guidelines for Compounding Offences under IT Act 1961
18 October 2024 at 09:12CBDT has issued Revised Guidelines for Compounding of offences under the Income-tax Act, 1961(the 'Act') on 17.10.2024.
CBDT releases Updated Time Series data upto FY 2023-24
18 October 2024 at 09:11The Central Board of Direct Taxes (CBDT) has released updated Time-Series data up to FY 2023-24.
GST Fraud Crackdown: Commissioner Unveils New Tactics, Biometric Tech to Catch Masterminds
18 October 2024 at 09:10Since 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.
Finance Ministry Amends GST Recruitment Rules 2024: OBC Inclusion & Qualification Relaxation
18 October 2024 at 09:09Ministry 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
GSTN Releases Additional FAQs on IMS
18 October 2024 at 09:09Invoice 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).
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