CAclubindia News
Infosys Hit with Rs 3 Crore Tax Penalty Over Alleged Discrepancies in ITC and Payments
02 September 2024 at 08:59Infosys has been issued a penalty notice exceeding Rs 3 crores by the Deputy Commissioner of Commercial Taxes in Bengaluru. The penalty, which pertains to alleged discrepancies in tax payments and the excessive use of ITC for the financial year 2019-20
Siemens Hit with Rs 29.4 Crore Tax Demand from Income Tax Department
02 September 2024 at 08:58Technology giant Siemens Ltd announced on Friday, August 30, that it has received a new tax demand order from the Deputy Commissioner of Income Tax, Circle 8(2)(1), amounting to approximately ₹29.4 crore. This demand was disclosed in a stock exchange
GST Collections Surge 10% in August to Rs 1.75 Lakh Crore
02 September 2024 at 08:56Gross and Net GST revenue collections for the month of Aug, 2024
Shipping Corporation Faces Rs 160 Crore GST Demand for FY20 Due to Input Credit Mismatch
31 August 2024 at 09:13On Thursday, August 29, 2024, state-owned Shipping Corporation of India Ltd (SCI) announced it had received a significant demand order from the Deputy Commissioner of State Tax in Mumbai, amounting to ₹160.37 crore.
CBIC to Notify GST Provisions Under Finance Act 2024 Post 54th GST Council Meeting on 9th September
31 August 2024 at 09:09The Central Board of Indirect Taxes and Customs (CBIC) has announced that the provisions of the Finance (No.2) Act, 2024, related to Goods and Services Tax (GST) will not come into effect until after the 54th GST Council Meeting.
CBDT rolls out Dispute Resolution Scheme (e-DRS) 2022 to minimise litigation
31 August 2024 at 09:08In pursuance of section 245MA in the Income-tax Act, 1961 (hereinafter referred to as "the Act"), the CBDT notified the e-Dispute Resolution Scheme, 2022 (e-DRS) with the aim to reduce litigation and provide relief to eligible taxpayers.
CBI Arrests Income Tax Principal Commissioner in Rs 10 Lakh Bribery Scandal
30 August 2024 at 14:03CBI chief in one of the biggest corruption sting operations arrested Principal Commissioner of Income Tax (Patna and Dhanbad) - Santosh Kumar and four others for receiving Rs 10 lakh in bribes.
LIC Receives Rs 605.5 Crore GST Demand Order for FY20
30 August 2024 at 09:30Life Insurance Corporation (LIC) of India has been hit with a GST demand and penalty order totalling Rs 605.5 crore for the fiscal year 2019-20 (FY20).
Chocolate Firms and Bakeries Hit with GST Notices Over Alleged Underpayment
30 August 2024 at 09:26More than a dozen bakery and chocolate companies have been served notices by the DGGI for allegedly underpaying GST from July 2017 to March 2023.
Vodafone Idea Faces Rs 15.19 Crore GST Demand and Rs 1.51 Crore Penalty
30 August 2024 at 09:23The GST office in Patna has ordered debt-ridden Vodafone Idea (VIL) to pay Rs 15.19 crore in taxes, along with a penalty of Rs 1.51 crore, for allegedly availing input tax credit (ITC) it was not eligible for during FY 2019-20 and 2020-21.
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