CAclubindia News
GoM Proposes Lower GST on Water Bottles and Bicycles; Higher Taxes on Luxury Shoes and Watches
21 October 2024 at 08:42The Group of Ministers (GoM) on Goods and Services Tax (GST) rate rationalisation met on Saturday to discuss significant tax adjustments aimed at easing the financial burden on consumers.
Number of Income Taxpayers in India Exceeds 10 Crore, Tax Buoyancy Hits 2+ in FY24
21 October 2024 at 08:42India's income taxpayer base has crossed 10 crore, nearly doubling in the last decade. Tax buoyancy rose to over 2 in FY24, indicating strong tax revenue growth aligned with GDP.
Personal Income Tax Collection Surges 294% in FY24
21 October 2024 at 08:41India's personal income tax collection rose by 294% over a decade, reaching Rs 10.45 lakh crore in FY24, while corporate tax collections grew by 112%. Tax compliance, return filings, and India's tax-to-GDP ratio also improved.
Income Tax Department Releases Handbook on Judicial Matters for Internal Use Only
21 October 2024 at 08:41Explore key insights from the Handbook on Judicial Matters, including guidelines for filing appeals in the ITAT, High Court, NCLT and NCLAT, along with prosecution procedures and more.
Direct Tax Share in GDP Reaches 24-Year High at 6.64% in FY24
21 October 2024 at 08:40Direct taxes surged to 6.64% of GDP in FY24, with collections rising by 17.82%, outpacing nominal GDP growth. Personal income tax collections also surpassed corporation tax for the second year in a row.
New ICSI Guidelines: Company Secretaries Can Sign E-Form MGT-7 for Only 75 Firms Starting April 2025
19 October 2024 at 08:05Company Secretaries to Sign E-form MGT-7 for Up to 75 Companies
ICAI Issues SOP for Law Enforcement Agencies on Handling Chartered Accountants During Investigations
19 October 2024 at 08:05ICAI has released a comprehensive Standard Operating Procedure (SOP) to guide police and other law enforcement agencies during investigations, searches, seizures, interrogations, detentions and arrests of CAs.
Direct Tax Collections Soar 182% in 10 years, Hit Rs 19.60 Trillion in FY24
19 October 2024 at 08:05India's direct tax collections have seen an unprecedented surge of 182% in the decade under Prime Minister Narendra Modi's leadership, crossing ₹19.60 trillion in the fiscal year 2023-24.
GoM Discusses Merger of GST Compensation Cess into Main Tax Structure
19 October 2024 at 08:05The Group of Ministers (GoM) on GST Compensation Cess, led by Minister of State for Finance Pankaj Chaudhary, convened on October 16 to explore the potential merger of the compensation cess into the broader Goods and Services Tax (GST) framework.
Accountant Accused of Rs 5 Crore GST Scam Using Defunct Factory's GST Number
19 October 2024 at 08:05In a shocking incident from Jamnagar, a local accountant has been accused of scamming a factory owner by fraudulently reactivating a defunct GST number.
Popular News
- IT Department Issues Notices to Salaried Taxpayers Over 'Unrealistic' Exemption Claims in ITRs
- College Girl Gets GST Notice Over Rs 35 Crore Deposited in Her Account
- ICAI Suspends Two CAs for Professional Misconduct in Separate Disciplinary Cases
- CBIC Issues Instructions to Streamline GST Registration Process and Curb Harassment
- CBDT Amends Form 27EQ: TCS Now Applicable on Luxury Goods and Collectibles
Trending Online Classes
-
GST LIVE Certification Course - 42nd Weekend Batch(With Govt Certificate)
Industry Expert17 May 2025
CAclubindia
