📅 Date: October 28, 2024📂 Categories: DGFT | Notification and Circular⌛ Read Time: 4 Min The Director General of Foreign Trade (DGFT), through Public Notice No 28/2024-25 dated October 28,…
Finance Ministry Updates Excise Duty on Blended Aviation Turbine Fuel
📅 Date: October 28, 2024📂 Categories: Central Excise⌛ Read Time: 4 Min The Ministry of Finance, Department of Revenue, has issued Notification No. 27/2024-Central Excise on October 28, 2024, amending…
Tamil Nadu GST Department Sets Turnover Limit for DCTOs
📅 Date: October 28, 2024📂 Categories: State GST Notification and Circular⌛ Read Time: 4 Min The Tamil Nadu GST Department has issued Notification No. 3/2024-TNGST on October 28, 2024, establishing…
Maruti Suzuki’s Rs 139 Crore GST Demand Upheld by Haryana Appeals Authority
Maruti Suzuki India (MSI) faced a setback as the Haryana GST appeals authority upheld a tax demand of ₹139.3 crore. This demand covers the period from July 2017 to August…
Delhi High Court Declares GST Cancellation Invalid Without Personal Hearing
The Delhi High Court has ruled that canceling GST registration without a personal hearing violates the principles of natural justice. This decision reinforces the importance of fair hearing procedures in…
Income Tax Department Releases Updated Common Offline Utility for ITR Filing
The Income Tax Department has launched the latest version of its Common Offline Utility (version 1.1.7) for filing Income-tax Returns (ITR 1 to ITR 4) for the Assessment Year 2024-25.…
GST Reform Needs Holistic Approach, Not Piecemeal Changes
Recent discussions by Goods and Services Tax (GST) Council ministers indicate recommendations for rate adjustments, exemptions for lower health insurance covers, and the potential merging of the compensation cess with…
Income Tax Department Releases Updated Utilities & Schema for ITR-7 Filing
The Income Tax Department has launched the latest version of utilities and schema for filing ITR-7, catering to entities required to file returns under sections 139(4A), 139(4B), 139(4C), and 139(4D).…
Finance Ministry Considering Scrapping Windfall Tax on Crude: Govt Official
The Finance Ministry is set to review the potential removal of the windfall tax on domestic crude oil production, as revealed by Tarun Kapoor, an advisor to Prime Minister Narendra…
RBI Predicts 6.8% GDP Growth for Q2FY25 Amid Mixed Economic Signals
The Reserve Bank of India (RBI) has projected a 6.8% GDP growth for the second quarter of FY25, slightly up from the 6.7% growth in the previous quarter. Despite this…