The Central Board of Direct Taxes (CBDT), through Circular No. 18/2024 dated November 30, 2024, has announced an extension for the due date of filing Income Tax Returns (ITR) under…
Who Needs to File GST Annual Returns by December 31, 2024?
The deadline for filing GST annual returns for the financial year 2023-24 is fast approaching. Eligible taxpayers must file their returns through GSTR-9 or GSTR-9A forms by December 31, 2024.…
GST Compliance Calendar for December 2024
Here are the important GST compliance dates for December 2024: 1st to 7th December 2024 GSTR-1: For taxpayers with turnover greater than ₹5 crore, file GSTR-1 for the month of…
GST Exemption on Health and Life Insurance: Awaiting GoM Recommendations
The Central government is awaiting the Group of Ministers (GoM) recommendations, constituted by the GST Council, for a decision on exempting GST on health and life insurance policies, as stated…
Oral Statements Alone Cannot Sustain Tax Demand: CESTAT Ahmedabad Ruling
The CESTAT, Ahmedabad, in Krish Corporation v. Commissioner of C.E. and S.T.-Surat -I [Service Tax Appeal No. 10686 of 2014-DB], ruled that tax demands cannot be raised solely based on…
GST & Customs Pavilion Wins Bronze at IITF 2024 for Public Communication Excellence
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%,…