The GST Council meeting, expected between December 20-25 in Rajasthan, will focus on critical rate changes in insurance and goods sectors. This 55th meeting, chaired by Finance Minister Nirmala Sitharaman,…
Supreme Court Confirms Income Tax on Salaries of Priests and Nuns in Aided Schools
The Supreme Court has upheld the Madras High Court decision requiring tax deduction at source (TDS) on salaries paid to nuns and priests working as teachers in church-run aided schools.…
New GST DRC-03A Form: Simplifying Tax Adjustment for Unsettled Demands
The Goods and Services Tax Network (GSTN) has launched a new form, GST DRC-03A, to streamline tax adjustments for unpaid GST demands, allowing taxpayers to link payments made under specific…
Truecaller India Offices Searched by Income Tax Department Over Tax Evasion Claims
The Income-Tax Department conducted searches at Truecaller's India offices on November 7, 2024, regarding alleged tax evasion and transfer pricing (TP) issues. Truecaller, the popular caller ID service with over…
GSTN Issues Key Advisory on Waiver Scheme Under Section 128A of CGST Act, 2017
The GST Network (GSTN) released Advisory No. 546 on November 8, 2024, detailing the Waiver Scheme under Section 128A of the CGST Act, 2017. This scheme provides significant relief to…
Higher GST and Land Issues Slow Solar PV Expansion in India: Key Barriers and Growth Insights
India’s solar PV deployment faces significant barriers, including increased GST on solar components and land acquisition challenges, according to the International Solar Alliance (ISA) report. The GST on solar project…
CBIC Notifies Handling of Cargo in Customs Areas (Amendment) Regulations, 2024
The Central Board of Indirect Taxes and Customs (CBIC) issued Notification No. 75/2024-Customs (N.T.) on November 7, 2024, to amend the Handling of Cargo in Customs Areas Regulations, 2009. Key…
Supreme Court Restores DRI’s Authority, Resurrects ₹23,000 Crore Tax Notices Against Major Corporations
In a significant ruling, the Supreme Court on Thursday reinstated the Directorate of Revenue Intelligence’s (DRI) power to issue tax notices, reviving demands for unpaid duties totaling ₹20,000–23,000 crore against…
ED Raids Amazon & Flipkart Sellers for Alleged FDI Violations
The Enforcement Directorate (ED) recently conducted searches in Delhi, Bengaluru, Mumbai, Hyderabad, and Panchkula, investigating sellers linked to Amazon and Flipkart over Foreign Exchange Management Act (FEMA) violations. The probe,…
GSTN Issues Advisory on ‘Other Territory’ Applications for GST Registration
On November 07, 2024, the GSTN released Advisory No. 545 for applicants selecting the ‘Other Territory’ category in GST registration. Here’s a summary for those applying under this classification: Important…