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By: AdminDate: November 25, 2024Category: Important Pronouncements Key Judgment: In Baazar Style Retail Ltd. v. Deputy Commissioner of State Tax [W.P.A. No. 16185 of 2024, dated August 19, 2024], the…
India's Goods and Services Tax (GST) collections have slowed in the first half of the fiscal year 2024-25 (H1 FY25), highlighting weakening consumption trends. Domestic GST revenues grew by 10.5%…
The Central Board of Direct Taxes (CBDT) has introduced major updates to the process of claiming tax refunds and seeking condonation of delays in filing Income Tax Returns (ITRs). Starting…
In a significant step towards streamlining tax dispute resolution, the Indian government is considering the introduction of an arbitration mechanism in the upcoming Union Budget 2025. This initiative, aimed at…
Fraudulent refund claims have become a significant issue, prompting the Income Tax Department to intensify its scrutiny. Practices such as false income declarations, fabricated deductions, and inflated exemptions are unethical…
Date: November 23, 2024 Duplicate entries in GSTR-2B have created confusion for taxpayers filing GST returns for October 2024. These issues, likely caused by system or filing errors, result in…
The Central Board of Direct Taxes (CBDT) has launched a Compliance-Cum-Awareness Campaign for Assessment Year 2024-25. This initiative aims to ensure the accurate reporting of foreign income and assets in…
Stay informed with the most recent developments in GST compliance and fraud prevention. 📌 Gujarat SGST Department Detects Rs 3.53 Crore Tax EvasionThe Gujarat State GST Department has identified tax…
By: AdminDate: November 22, 2024Category: GST Recent NewsReading Time: 4 Minutes The deadline for filing GSTR-3B was November 20, 2024, for most GST-registered taxpayers, except in Maharashtra and Jharkhand, where…
By: AdminDate: November 22, 2024Category: CBDT Notification | Notification and CircularReading Time: 4 Minutes The Central Board of Direct Taxes (CBDT) now requires electronic filing for certain forms under Rule…