Life Insurance Corporation of India (LIC) encountered a significant setback as tax authorities issued a demand notice amounting to approximately Rs 663.45 crore. The demand, encompassing interest and penalty, was communicated by the Office of the Commissioner of CGST & Central Excise, Chennai North Commissionerate, on …
The Supreme Court of India has issued a notice to the Union government, demanding a response to a plea filed by online gaming companies challenging tax demands amounting to ₹1.5 lakh crore. The three-judge bench, led by Chief Justice D.Y. Chandrachud, has granted the government and …
In a sweeping move, Goods and Services Tax (GST) authorities have issued demand notices totaling ₹1.45 lakh crore to approximately 1,500 businesses in December. The notices, attributed to inconsistencies in annual returns and input tax credit claims for the financial year 2018, included penalties and interest, …
Commercial Tax Officials Nab Managing Director for Massive GST Irregularities In a major crackdown on financial malpractices, commercial tax officials have arrested Rajkumar Rekhya Roopsing Nayak, the managing director of Sri Kavya Mining Infrastructures Private Limited. The arrest is linked to alleged Goods and Services Tax …
Robust Growth in Tax Returns and Collections Signals Success of New Income Tax Regime The government’s efforts to enhance tax collections, broaden the tax base, and increase taxpayer compliance appear to be gaining momentum with the implementation of the new income tax (IT) regime in the …
Asian Paints, a leading paints manufacturer, revealed on Monday that it has received a Goods and Services Tax (GST) demand notice of Rs 13.83 crore along with a penalty of Rs 1.38 crore from the Deputy Commissioner of State Tax, Chennai. The demand pertains to the …
The GSTN (Goods and Services Tax Network) has introduced two pivotal tables in GSTR-1, effective from January 2024 onwards. These tables, namely Table 14 and Table 15, are specifically crafted to streamline the reporting process for taxable outward supplies made through e-commerce operators and supplies falling …
The Institute of Chartered Accountants of India (ICAI) has taken a significant step towards transparency and accountability by welcoming observations and feedback from candidates on the question papers of the CA Foundation December 2023 examinations. This move aims to enhance the examination process and address any …
The anticipation surrounding the Chartered Accountants (CA) Final and Intermediate Examinations held in November 2023 is finally coming to an end, as the results are scheduled to be declared on Tuesday, the 9th of January 2024. This significant event is poised to reveal the academic accomplishments …
The Institute of Chartered Accountants of India (ICAI) is expected to declare the CA Final November 2023 result in the month of January 2024.This information was made available by Dheeraj Khandelwal, CCM, ICAI on X (formerly twitter) who tweeted that the CA Final result date would …
