CAclubindia News

SC Stays Karnataka HC's Ruling on Gameskraft's Rs 21,000 crore GST Notice

07 September 2023 at 08:41

The Supreme Court, on September 6, stayed the Karnataka High Court's judgment that had quashed a GST notice against Gameskraft Technology. This notice alleged evasion of Rs 21,000 crore in GST.

Posted in GST | 8592 Views

Income Tax Department Notifies Salaried Taxpayers About Deduction Discrepancies in Form 16

06 September 2023 at 09:00

Income Tax Department (ITD) has started sending intimations to salaried taxpayers whose deductions are not in sync with Form 16.

Posted in Income Tax | 46458 Views

Income Tax Department Urges Taxpayers to Verify Bank Account Validation Status

06 September 2023 at 08:59

Income Tax Department (ITD) has advised taxpayers to verify the validation status of their bank account on the e-filing portal.

Posted in Income Tax | 12318 Views

Mandatory HSN Code Requirements in E-Invoices and E-Way bills for Taxpayers from Oct 2023

06 September 2023 at 08:57

There is a new GST E-Way Bill update regarding the HSN code requirements.

Posted in GST | 34290 Views

CBIC Releases Procedure for Provisional Attachment of Property u/s 83(2) of CGST Act 2017

06 September 2023 at 08:55

Procedure to be followed with respect to sub-section (2) of section 83 of CGST Act, 2017 when provisional attachment of property ceases to have effect

Posted in GST | 7101 Views

Over 88% of 6.98 Crore ITRs for AY 2023-24 Verified and Processed as of 5th Sept 2023

06 September 2023 at 08:54

6.84 crore ITRs verified out of 6.98 crore ITRs filed for AY 2023-24 with over 88% of verified ITRs processed as on 5th Sept. 2023More than 2.45 crore refunds for AY 2023-24 issuedThe Income Tax Department is committed to process the Income Tax Retur

Posted in Income Tax | 5172 Views

Karnataka AAR Grants ITC for Promotional Items in Sales Targets

05 September 2023 at 08:51

Karnataka AAR has ruled that businesses can claim ITC on items such as gold coins and white goods that are procured for distribution to dealers as part of promotional schemes when pre-specified sales targets are achieved.

Posted in GST | 8160 Views

CBIC Launches GST Verification Drive with Rs 50,000 Penalty for Non-Compliant Shops

05 September 2023 at 08:50

The Central Board of Indirect Taxes and Customs (CBIC) has initiated a campaign in Punjab's Bathinda district to ensure that businessmen registered on the GST network portal display their GST numbers at their premises.

Posted in GST | 10047 Views

ICAI releases Guidance Note on Tax Audit u/s 44AB of IT Act, 1961

05 September 2023 at 08:49

ICAI releases Revised 2023 Edition of Guidance Note on Tax Audit under Section 44AB of the Income-tax Act, 1961.

Posted in Income Tax | 15966 Views

Clarification on 80P Error from Income Tax Department

04 September 2023 at 08:41

The Income Tax Department has clarified that the error in the 80P deduction notices was sent inadvertently. The department has assured taxpayers that an email communication addressing this issue will be sent out shortly.

Posted in Income Tax | 31461 Views