CAclubindia News

Surge in High-Income Taxpayers Reflects Growing Incomes and Compliance

23 October 2024 at 08:48

The number of individuals reporting taxable income exceeding ₹1 crore has seen a dramatic rise, jumping from 44,078 in AY 2013-14 (FY 2012-13) to nearly 2.3 lakh in AY 2023-24 (FY 2022-23).

Posted in Income Tax | 300 Views

GSTN Introduces Bank Account Validation for Non-Core Amendments

23 October 2024 at 08:47

GSTN has implemented a validation process for cases where a taxpayer attempts a non-core amendment to update bank account details.

Posted in GST | 3189 Views

GSTN Issues Advisory for GST REG-07

23 October 2024 at 08:46

GSTN has introduced an update to facilitate the registration compliance for buyers of metal scrap through form GST REG-07.

Posted in GST | 4563 Views

Softy Ice-Cream Mix Classified as Sugar-Based, Will Attract 18% GST: AAR Ruling

22 October 2024 at 08:45

In a recent ruling, the Rajasthan bench of the GST AAR determined that the softy ice-cream mix, sold by VRB Consumer Products, is primarily sugar-based, and not a milk product. As a result, it will attract a Goods and Services Tax (GST) rate of 18%.

Posted in GST | 729 Views

GST Scam Exposes 35 Accused, Chartered Accountants in the Spotlight

22 October 2024 at 08:41

In a rapidly unfolding investigation into a multi-crore GST scam, 35 individuals have been named as accused, including Siddharth Barad, nephew of BJP MLA Bhaga Barad.

Posted in GST | 1374 Views

GST Panels Propose Major Rate Changes for 100+ Products

22 October 2024 at 08:41

The GoM will submit its recommendations to the GST Council by October-end, which will make the final decision. Additionally, the panel also addressed the GST on around 100 products.

Posted in GST | 2181 Views

ICAI Announces Observer Empanelment for January 2025 CA Exams

22 October 2024 at 08:40

ICAI has announced the empanelment of members to act as observers for the upcoming Chartered Accountants (CA) examinations, scheduled from January 11 to January 21, 2025.

Posted in Students | 11130 Views

ICAI Invites Young CAs to Shine at 40 Under 40 Business Leader Awards 2024

21 October 2024 at 08:49

The ICAI, in collaboration with Business Standard, is inviting nominations for the 40 Under 40: CA Business Leader Awards 2024

Posted in Professional Resource | 1392 Views

RBI Bans Loan Sanction and Disbursal from Four NBFCs

21 October 2024 at 08:42

RBI orders ban on loan sanction and disbursal by four NBFCs, citing regulatory violations. Learn more about the impact and details of the directive

Posted in Others | 6438 Views

GoM Proposes GST Exemption on Life and Health Insurance Premiums for Senior Citizens

21 October 2024 at 08:42

In a significant development for the insurance sector, the Group of Ministers (GoM) has proposed exempting Goods and Services Tax (GST) on term life insurance premiums and health insurance premiums paid by senior citizens.

Posted in GST | 1836 Views