The Lokayukta police recently arrested a commercial tax officer from Division-5 in Koramangala, Bengaluru, for allegedly accepting a bribe. Investigations have revealed that the officer, identified as Shaikh, also engaged…
Bajaj Healthcare Appeals ₹18.49 Crore GST Demand Over ITC Refund Dispute
Bajaj Healthcare Limited recently received a GST demand notice of ₹18.49 crore from the Joint Commissioner, Vadodara-II, regarding a dispute over Input Tax Credit (ITC) refunds. The dispute centers around…
West Bengal Tax Authority Confirms ₹55 Lakh GST Demand on HDFC Life Insurance Due to Credit Error
The Additional Commissioner of Commercial Taxes, West Bengal has upheld a ₹55 lakh GST demand against HDFC Life Insurance Company Ltd. The GST Appellate Authority confirmed the order issued by…
GSTN Advisory: Biometric-Based Aadhaar Authentication for GST Registration in Ladakh
📅 Date: October 31, 2024📂 Categories: #GSTPortalUpdates #ImportantNews⌛ Read Time: 4 Min The Goods and Services Tax Network (GSTN) has introduced biometric-based Aadhaar authentication and document verification for GST registration…
CBDT Notification: Specified Forms for Electronic Submission in Income Tax Rules
📅 Date: October 31, 2024📂 Categories: #CBDTNotification #NotificationsAndCirculars⌛ Read Time: 4 Min The Central Board of Direct Taxes (CBDT), via Notification No. 5/2024 dated October 30, 2024, has announced that…
CBDT Circular: Condonation of Delay for Income Tax Returns Claiming Deduction Under Section 80P for AY 2023-24
📅 Date: October 31, 2024📂 Categories: #CBDTNotification #NotificationsAndCirculars⌛ Read Time: 4 Min The Central Board of Direct Taxes (CBDT) has issued Circular No. 14/2024 on October 30, 2024, addressing the…
CM Siddaramaiah Sets Monthly Tax Collection Target to Drive Karnataka’s Revenue Growth
Karnataka Chief Minister Siddaramaiah has tasked the state's tax officials with achieving an ambitious monthly tax collection target of Rs 10,200 crore to reach the 2024-25 annual goal of Rs…
India Considers Deferring OECD’s Pillar 2 Tax Rules Due to Minimal Revenue Gains
The Indian government may delay implementing the OECD's Pillar 2 tax rules, which set a minimum 15% corporate tax rate for multinational enterprises (MNEs) with turnover exceeding 750 million euros.…
CBDT Issues Tolerance Range Notification for Transfer Pricing (A.Y 2024-25)
📅 Date: October 29, 2024📂 Categories: #CBDTNotification #PressRelease⌛ Read Time: 4 Min The Central Board of Direct Taxes (CBDT) has issued Notification No. 116/2024, dated October 18, 2024, specifying the…
Finance Ministry Updates Land Route for India-Bhutan Trade via Ultapani
📅 Date: October 29, 2024📂 Categories: #CBIC #CustomsNotification⌛ Read Time: 4 Min The Ministry of Finance, Department of Revenue, has released Notification No. 71/2024-Customs (N.T.), dated October 29, 2024, revising…