The GST and Customs Pavilion by the Central Board of Indirect Taxes and Customs (CBIC) has been honored with a Bronze Medal at the India International Trade Fair (IITF) 2024.…
LIC Challenges Rs 530 Crore GST Demand Order with Maharashtra Authority
Life Insurance Corporation of India (LIC) has filed an appeal against a GST demand order of Rs 530 crore, inclusive of interest and penalty, with the GST Appellate Authority in…
Petroleum Ministry Pushes for GST Inclusion of Natural Gas
The Petroleum and Natural Gas Ministry has proposed the inclusion of natural gas under the Goods and Services Tax (GST) framework, a move expected to simplify taxation for industries like…
The GST Network (GSTN) has issued Advisory No. 553 on November 27, 2024, regarding authorised e-Invoice verification apps.
The advisory provides a consolidated document listing approved B2B e-Invoice verification apps, which taxpayers can refer to for the latest and most accurate information. Key Points: The advisory aims to…
Government Proposes Unified Licence and 100% FDI Cap to Transform Insurance Sector
The Indian government plans major amendments to insurance laws, including a unified licence for insurers and raising the foreign direct investment (FDI) limit in the sector from 74% to 100%,…
Centre Rules Out Income Tax Relief for Senior Citizens
On November 26, 2024, the central government clarified in the Lok Sabha that no proposal to provide income tax relief for senior citizens is currently under consideration. This statement was…
ITC on Demo Cars: Kerala AAR Ruling and Related Perspectives
The Kerala Advance Authority of Ruling (AAR) clarified the eligibility of Input Tax Credit (ITC) for motor vehicles used as demonstration cars. In the Sai Service Pvt. Ltd. case [Advance…
Income Tax Department Tightens Rules for Claiming Refunds and Condonation of Delays
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…
GSTR-3B Filing Deadline Passed: File Now to Avoid Penalties and GST Registration Cancellation
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…
CBDT Mandates Electronic Filing of Forms 42, 43, and 44
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…