CAclubindia News
GSTN Advisory: IMS Launched for Taxpayers to Streamline ITC Claims
15 October 2024 at 08:51Invoice Management System (IMS) is made available to taxpayers from 14th Oct 2024.
ICAI Issues New Quality Management Standards: SQM 1 and SQM 2 for Auditing and Assurance
15 October 2024 at 08:50The Institute of Chartered Accountants of India (ICAI) is issuing the following standards
CBIC Issues Clarifications on GST Applicability for Specific Services
14 October 2024 at 09:08The Central Board of Indirect Taxes and Customs (CBIC) has released crucial clarifications on the applicability of Goods and Services Tax (GST) on certain services through Circular No. 234/28/2024-GST
CBIC Issues Clarification on "As Is / As Is, Where Is Basis" mentioned in GST Circulars
14 October 2024 at 09:08The Central Board of Indirect Taxes and Customs (CBIC) has provided crucial clarification regarding the scope of the "as is / as is, where is basis" terminology used in previous GST circulars. Issued on October 11, 2024, Circular No. 236/30/2024-GST
CBIC Issues Clarification on GST Rates and Classification of Goods Following 54th GST Council Meeting
14 October 2024 at 09:07The Central Board of Indirect Taxes and Customs (CBIC) has released a significant clarification on GST rates and classification of goods through Circular No. 235/29/2024-GST, dated October 11, 2024.
Net Direct Tax Collections for FY 2024-25 Surge by 18.35% as of 10th October
14 October 2024 at 09:05India's net direct tax collections for the financial year 2024-25 have seen significant growth, reaching ₹11.25 lakh crore by October 10, 2024, marking an 18.35% increase compared to the previous year.
GSTN Issues Advisory for Taxpayers: New GST Provision for Metal Scrap Transactions
14 October 2024 at 09:05The government has issued Notification 25/2024-Central Tax, on October 9, 2024 under GST Section 51 of the CGST Act, 2017 mandating compliance by businesses dealing with Metal Scrap.
NFRA Imposes Rs 2 Crore Fine on Auditor, Debars CAs for Lapses in Coffee Day Enterprises Audit
12 October 2024 at 09:10The NFRA has imposed a penalty of Rs 2 crore on the statutory auditor and Rs 15 lakh on two chartered accountants for professional misconduct during the audit of CDEL for the financial year 2019-20.
Record E-Way Bill Surge in September Signals Festival Season Boost
12 October 2024 at 09:06India's supply chain activity reached a new peak in September, with e-way bill generation hitting 109 million, an 18% increase compared to the same period last year, according to data from GSTN.
Fake ITC Fraud Worth Rs 48 Crore Uncovered by CGST in Mumbai
12 October 2024 at 09:11In a significant crackdown on tax fraud, the anti-evasion team of Thane Central Excise & CGST Commissionerate Mumbai Zone uncovered a massive fake Input Tax Credit (ITC) racket worth ₹48 crores.
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