The Central Board of Indirect Taxes and Customs (CBIC) has released Instruction No. 27/2024-Customs, dated November 1, 2024, to guide Customs field formations on handling tax evasion investigations while promoting ease of doing business. This directive aims to strike a balance between rigorous enforcement of customs regulations …
India is adopting a cautious stance on implementing the OECD-led Pillar 2 tax regime, which mandates a 15% minimum corporate tax rate for multinational enterprises (MNEs) with global revenues exceeding €750 million. Though the government may soon include an enabling provision in the Income Tax Act …
The Goods and Services Tax (GST) framework has introduced new guidelines regarding the handling of records on the Invoice Matching System (IMS) dashboard, aiming to improve clarity and streamline the GSTR-2B reconciliation process. Key Highlights of the New Guidelines Deemed Acceptance: Any IMS record where no …
New Compliance Update: Rule 47A for Self-Invoicing under Reverse Charge Mechanism (RCM) – Effective 1st November 2024 Starting from 1st November 2024, a new compliance rule, Rule 47A, mandates a 30-day time limit for issuing self-invoices under the Reverse Charge Mechanism (RCM) for all GST-registered recipients. …
In a bold move advocating for mental health affordability and transparency, 17-year-old Delhi student Anvi Kumar, founder of The Mind Canvas and a student at The Shriram School Aravali, Gurgaon, has filed a Public Interest Litigation (PIL) with the Supreme Court of India. The petition challenges …
Dear Professional Colleagues, True leadership fosters a culture of self-reliance by encouraging individuals to harmonize innovation with tradition, ensuring everyone participates in shaping a sustainable and thriving future.The realm of revolution and transformation which is revolving around the globe has created an atmosphere of rapid changes …
Results of the Chartered Accountants Intermediate and Foundation Examinations held in September 2024 declared CHECK RESULTS Foundation : Sep 2024 Announced on 30th Oct 2024 Intermediate Examination : Sep 2024 Announced on 30th Oct 2024 Intermediate Examination – UNITS : Sep 2024 Announced on 30th Oct 2024 CHECK MERIT …
Chief Justice of India (CJI) D Y Chandrachud emphasized the significance of cooperative federalism in the governance of India, calling the introduction of the Goods and Services Tax (GST) a “classical example” of this system. Speaking at an inaugural annual lecture series on “Understanding Federalism and Its …
Barring of GST Return on expiry of three years As per the Finance Act,2023 (8 of 2023), dt. 31-03-2023, implemented w.e.f 01-10-2023 vide Notification No. 28/2023 – Central Tax dated 31st July, 2023, the taxpayers shall not be allowed file their GST returns after the expiry …
