By: AdminDate: November 22, 2024Category: CBIC | Notification and Circular > CustomsReading Time: 4 Minutes The Central Board of Indirect Taxes and Customs (CBIC) has extended the deadline for manual…
Centre Revises PLI Scheme for Senior Executives of Public Sector Banks
By: AdminDate: November 22, 2024Category: PLI NewsReading Time: 4 Minutes The government has introduced a revised Performance-Linked Incentive (PLI) scheme for senior executives of public sector banks (PSBs). This updated…
India’s Current Account Deficit is Manageable: Piyush Goyal
Commerce and Industry Minister Piyush Goyal has expressed confidence in India's ability to manage its Current Account Deficit (CAD). Speaking at a recent event, he attributed this resilience to strong…
CBDT Urges Taxpayers to Rectify Foreign Income Discrepancies Before 31st December 2024
The Central Board of Direct Taxes (CBDT) has reminded taxpayers, especially those with foreign income or assets, to address discrepancies in their reporting before the 31st December 2024 deadline. This…
GST Fitment Committee Reviews Taxability of Delivery Charges by Food Delivery Apps
Introduction The Goods and Services Tax (GST) Fitment Committee is reviewing the taxability of delivery charges imposed by food delivery platforms like Swiggy and Zomato. This review follows the Directorate…
CCI Penalizes Meta with ₹213.14 Crore Fine for Anti-Competitive Practices Related to WhatsApp’s 2021 Privacy Policy
The Competition Commission of India (CCI) has imposed a fine of ₹213.14 crore on Meta for abusing its dominant position through WhatsApp's 2021 Privacy Policy update, which mandated data sharing…
GST Officials Review Taxation of Delivery Charges by Swiggy and Zomato
The fitment committee, comprising state and central GST officials, is evaluating whether delivery charges from platforms like Swiggy and Zomato should remain taxed as part of food supplies. Key PointsInvestigation…
🟥 CBDT Circular on Condonation of Delay for Filing Forms 9A/10/10B/10BB
Date: November 18, 2024Category: CBDT Notification The Central Board of Direct Taxes (CBDT) has issued Circular No. 16/2024 concerning the condonation of delay under Section 119(2)(b) of the Income-tax Act,…
GSTN Introduces New Feature to Fix Invoice Matching Errors for ITC Claims
Date: November 16, 2024Category: GST Recent News The Goods and Services Tax Network (GSTN) has launched a new Invoice Management System (IMS) to streamline invoice matching, enabling taxpayers to claim…
Important GST Case Law: L&T-IHI Consortium Eligible for ITC on Advance Received for Atal Setu Project
Case: Bombay High Court - L&T IHI Consortium vs. Union of India & Ors.Writ Petition: No. 2980 of 2019 Key Highlights: ITC Allowed Despite Non-Compliance with Section 16(2)(b):The Bombay High…