CAclubindia News
Income Tax Department to Verify 'High-Risk' Refund Claims for AY 2024-25 Using SOP
16 October 2024 at 09:05The Income Tax Department will implement a systematic process to verify 'high-risk' refund claims filed for the assessment year (AY) 2024-25, which corresponds to the financial year ending March 31, 2024.
Carmakers Face Rs 10,000 Crore GST Compensation Cess Notices for Utility Vehicles
16 October 2024 at 09:04Several top automakers, including Mahindra, Tata Motors, Hyundai, and Maruti, have received tax notices for unpaid compensation cess on utility vehicles sold prior to 2022.
DGGI Nears Completion of Pre-GST Tax Evasion Probes, to Disband Dedicated Unit Soon
16 October 2024 at 09:03The Directorate General of GST Intelligence (DGGI) is set to wrap up its investigations into pre-GST tax evasion cases, which predominantly pertain to service tax and central excise.
CBIC Urges App-Based Ride-Hailing Firms to Clarify GST Applicability on Booked Rides
16 October 2024 at 09:03The Central Board of Indirect Taxes & Customs (CBIC) has given app-based ride-hailing companies one week to submit their written views regarding the applicability of GST on rides booked through their platforms.
CBDT issues FAQs on Direct Tax Vivad Se Vishwas Scheme 2024 to provide clarity
16 October 2024 at 09:02In order to facilitate the various queries raised by the stakeholders following the enactment of the DTVSV Scheme, 2024, the CBDT has today issued a Guidance Note in the form of Frequently Asked Questions (FAQs).
GST Portal Introduces Auto-Populated ITC in GSTR-9 for FY 2023-24
15 October 2024 at 15:19Starting FY 2023-24, GST system will auto-populate eligible ITC for domestic supplies (excluding reverse charge and imports ITC) from table 3(I) of GSTR-2B to table 8A of GSTR-9.
MCA Notifies Companies (Adjudication of Penalties) Second Amendment Rules, 2024
15 October 2024 at 13:35On October 9, 2024, the Ministry of Corporate Affairs (MCA) issued Notification No. G.S.R. 630(E), introducing the Companies (Adjudication of Penalties) Second Amendment Rules, 2024. This amendment further refines the existing framework for adjudicat
CBDT Notifies Income Tax Exemptions for Various Public Authorities u/s 10(46) of the IT Act
15 October 2024 at 09:01The Central Board of Direct Taxes (CBDT) has issued a series of notifications providing income tax exemptions for public authorities across several sectors under Section 10(46) of the Income-tax Act, 1961.
Central GST Officer Arrested for Accepting Rs 1.25 Lakh Bribe in Gujarat
15 October 2024 at 08:59The Gujarat Anti-Corruption Bureau (ACB) caught a Central GST officer, Mohammad Rizwan Sheikh, red-handed while accepting a bribe of Rs 1.25 lakh on Thursday.
15% Minimum Corporate Tax Rule Likely to be Included in Ongoing IT Act Review
15 October 2024 at 08:55India is preparing to align with the OECD/G20 Inclusive Framework on Base Erosion and Profit Shifting (BEPS) by adopting Pillar 2, which mandates a global minimum corporate tax rate of 15% for multinational corporations (MNCs).
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