CAclubindia News

Banks express concern over liquidity ahead of advance tax outflow and GST

13 June 2023 at 08:51

The Reserve Bank of India (RBI) conducted a variable rate reverse repo (VRRR) auction on Friday, but banks remained reluctant to park funds with the central bank.

Posted in GST | 3756 Views

Central Govt doubles tax devolution to states, releases Rs 1,18,280 crore in 3rd instalment

13 June 2023 at 08:50

Central Government releases ₹1,18,280 crore as 3rd instalment of tax devolution to State Governments as against normal monthly devolution of ₹59,140 crore

Posted in Income Tax | 2901 Views

Finance Ministry set to provide clarity on TCS for foreign remittance under LRS

12 June 2023 at 08:44

Finance Ministry is going to come out with a detailed clarification regarding TCS (Tax Collected at Sources) on Liberalised Remittance Scheme (LRS), a senior Government official said on Friday.

Posted in Income Tax | 8283 Views

Income Tax Assessees Granted 21 Days to Respond to Refund Adjustment Intimations

12 June 2023 at 08:43

An income tax assessee will get 21 days to respond to notices issued by the Central Processing Centre (CPC) regarding set-off and withholding of refund.

Posted in Income Tax | 9393 Views

GST Fraud Alert: Rs 10000 crore scam revealed with 3000 fake shell companies

12 June 2023 at 08:41

Special teams have been constituted by the DGGI and an analysis of records revealed these operational 1,000 shell companies have evaded Goods and Services Tax (GST) of more than Rs 700 crore.

Posted in GST | 9198 Views

Offline Excel Utility for ITR-5 AY 2023-24 now accessible for filing

10 June 2023 at 16:22

Offline Excel utility of ITR-5 for AY 2023-24 is available for filing

Posted in Income Tax | 8991 Views

Offline utilities for ITR-1 and ITR-4 available for AY 2023-24

10 June 2023 at 16:20

Income Tax Department has released offline utilities for ITR-1 and ITR-4 for the assessment year 2023-24.

Posted in Income Tax | 9819 Views

Madurai FMCG taders arrested for Rs 75 crore GST evasion

10 June 2023 at 08:42

Three traders of FMCG were arrested in Madurai for evasion of Rs 75 crore in GST. The Directorate General of GST Intelligence (DGGI) conducted raids on the premises of the three traders on May 11, 2023.

Posted in GST | 3726 Views