The Institute of Chartered Accountants of India (ICAI) has released the Exposure Draft Guidance Note on Tax Audit under Section 44AB of the Income-tax Act, 1961 for the Assessment Year 2023-24. The Exposure Draft was released on 22nd July 2023 and the last date for submitting …
The 164th anniversary of Income Tax Day was observed by Central Board of Direct Taxes (CBDT) and all its field offices across India today. The main function was held at the Plenary Hall, Vigyan Bhavan, New Delhi. Union Minister of Finance & Corporate Affairs Smt. Nirmala …
Dear Taxpayers, 1. GSTN is pleased to inform you that the e-Invoice Exemption Declaration functionality is now live on the e-Invoice portal. This functionality is specifically designed for taxpayers who are by default enabled for e-invoicing but are exempted from implementing it under the CGST (Central …
According to Finance Minister Nirmala Sitharaman, the eight northeastern states of India have experienced strong growth in Goods and Services Tax (GST) collection since its implementation. The GST revenue has seen an annual growth rate of about 27.5% in these states, leading to a significant increase …
Several Chinese handset makers, including Xiaomi, Realme, Oppo, Vivo, and Oneplus, have allegedly evaded significant amounts of Goods and Services Tax (GST) and customs duties over the past five years. According to the government’s statement, they have collectively evaded ₹1,108.98 crore in GST and ₹7,966.09 crore …
According to a report, 15 insurance companies, including HDFC Life Insurance, Bajaj Allianz, and Aditya Birla Sun Life Insurance, have been found to evade Rs 2,350 crore of goods and services tax (GST). The investigation by GST authorities focused on detecting fake input tax credit claims …
ANNOUNCEMENT EMPANELMENT OF MEMBERS TO ACT AS OBSERVERS AT THE EXAMINATION CENTRES FOR THE CHARTERED ACCOUNTANTS EXAMINATIONS NOVEMBER/DECEMBER 2023. It is proposed to empanel members to act as Observers for the forthcoming November/December -2023 Chartered Accountants Examinations scheduled as under: Intermediate, Final and PQC Exams from …
Online gaming companies in India are awaiting clarity on the issue of repetitive taxation. The GST Council has announced a 28% GST on the turnover of online gaming companies, casinos, and horse racing companies. However, there is concern that this could lead to repetitive taxation, as …
