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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).
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.
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