CAclubindia News

Lok Sabha passes GST Amendment Bills to impose 28% tax on online gaming, casinos and race clubs

12 August 2023 at 08:47

The Lok Sabha passed two bills on Friday to amend the Goods and Services Tax (GST) laws to levy a 28% tax on online gaming, casinos, and race clubs. The bills were introduced by Finance Minister Nirmala Sitharaman in the lower house of Parliament.

Posted in GST | 7623 Views

Direct Tax Collections Reach Rs. 6.53 Lakh Crore, Marking 15.73% Growth by Aug 10, 2023

12 August 2023 at 08:46

The provisional figures of Direct Tax collections up to 10th August, 2023 continue to register steady growth. Direct Tax collections up to 10th August, 2023

Posted in Income Tax | 1587 Views

Resilient Indian Economy and Monetary Policy: Sustained Growth Amid Global Challenge

11 August 2023 at 08:47

As we celebrate India's 77th Independence Day in a few days, I am happy to note that the Indian economy is exuding enhanced strength and stability despite the massive shocks to global economy in recent years.

Posted in Others | 3189 Views

CBDT Extends Applicability of Transfer Pricing Safe Harbour Rules Until AY 2023-24

11 August 2023 at 08:46

The CBDT has extended the applicability of Rule 10TD(1) and Rule 10(2A) of the IT Rules, 1962, which are the Transfer Pricing Safe Harbour Rules, until the Assessment Year 2023-24.

Posted in Income Tax | 1 comments | 10809 Views

RBI Keeps Repo Rate Unchanged At 6.50%

10 August 2023 at 11:14

Keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 6.50 per cent.

Posted in Others | 5661 Views

CBDT Unveils New Guidelines for Comprehensive Scrutiny of Tax Returns in FY 2023-24

10 August 2023 at 09:02

Central Board of Direct Taxes (CBDT) issued guidelines on August 3, 2023 for the mandatory selection of returns for comprehensive scrutiny in the financial year 2023-24.

Posted in Income Tax | 12000 Views

Main Users Grant Sub-Users Access to e-Invoices and EWB Management

10 August 2023 at 09:01

The GST, e-Invoice System issued an update on August 9, 2023, stating that sub-users can now access e-Invoices generated by the main user and perform View/Cancel/Generate EWB.

Posted in GST | 4236 Views

GST Amendment Bill of 28% on Online Gaming Gets Cabinet Approval

10 August 2023 at 09:00

The Union Cabinet has approved the bill to amend the GST rate to 28% on online gaming, casinos, and horse racing in India. The bill will be presented in the ongoing monsoon Parliament Session and is expected to be enforced by October 1.

Posted in GST | 2262 Views

ICICI Lombard gets Rs 273 Crore GST Notice on Motor Insurance Settlements

10 August 2023 at 08:59

ICICI Lombard General Insurance has received a tax demand notice from the Directorate General of GST Intelligence for a sum of ₹273.44 crore.

Posted in GST | 2436 Views

Minister of State, Shri Pankaj Chaudhary Provides Insights into Queries on GST Portal Glitch

09 August 2023 at 08:58

The Minister of State for Finance, Shri Pankaj Chaudhary, assured taxpayers that the government is committed to providing a smooth and reliable GST portal.

Posted in GST | 3102 Views