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GST Collection Rises 7.3% YoY, Hits Rs 1.77 Lakh Crore in December 2024
02 January 2025 at 15:24India's gross GST revenue for December 2024 reached Rs 1,76,857 crore, marking a 7.3% increase compared to December 2023's Rs 1,64,882 crore.
CBIC Issues Clarifications on GST Treatment of Vouchers
02 January 2025 at 09:12The Central Board of Indirect Taxes and Customs (CBIC) has issued Circular No. 243/37/2024-GST, dated December 31, 2024, to provide clarity on several issues related to the Goods and Services Tax (GST) treatment of vouchers.
CBIC Issues Clarification on ITC for E-Commerce Operators u/s 9(5) of the CGST Act
02 January 2025 at 09:09In a significant update for e-commerce operators, the Central Board of Indirect Taxes and Customs (CBIC) has issued Circular No. 240/34/2024-GST, dated December 31, 2024.
CBIC Clarifies ITC Eligibility for Goods Delivered Under Ex-Works Contracts
02 January 2025 at 09:06CBIC has issued Circular No. 241/35/2024-GST dated December 31, 2024, addressing input tax credit (ITC) eligibility under clause (b) of sub-section (2) of Section 16 of the Central Goods and Services Tax (CGST) Act, 2017.
ICAI's Role in Promoting Financial Literacy and Tax Awareness in 2024
02 January 2025 at 09:05ICAI President Message for the month of January Jan 2025
ICAI Launches Self-Paced Online Modules (SPOM) SET C and SET D
02 January 2025 at 09:03The Board of Studies (BOS) of the Institute of Chartered Accountants of India (ICAI) has announced the launch of additional Self-Paced Online Modules (SPOM) under SET C and SET D.
FM Nirmala Sitharaman Defends Tax Policies, Hints at Future Reforms for Middle Class
01 January 2025 at 08:00With Budget 2025 on the horizon, Finance Minister Nirmala Sitharaman has addressed criticisms over taxation policies, offering a robust defense of her government's initiatives while acknowledging the challenges faced by the middle class.
Income Tax Department Dismisses Claims of Using DigiYatra Data to Track Tax Evaders
01 January 2025 at 08:00The Income Tax Department has clarified that it has no plans to use data from the DigiYatra app to monitor tax evasion, addressing speculation fueled by recent media reports.
Pre-Budget 2024-25 Discussions Focus on Tax Relief for Middle Class, Fuel Duty Cuts and Public Capex Push
01 January 2025 at 08:00Tax exemptions for the middle class, reduction in excise duties on petrol and diesel, and an increased focus on public capital expenditure (capex) emerged as key suggestions during Pre-Budget discussions held on Monday.
Kerala to Mandate E-Way Bill for Gold Transportation Above Rs 10 Lakh from 1st January
01 January 2025 at 08:00Starting January 1, 2025, transporting gold worth more than ₹10 lakh in Kerala will require an e-way bill, as announced by State GST Commissioner Ajith Patil.
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