By: AdminDate: December 25, 2024Category: Press ReleaseReading Time: 4 Minutes Key Highlights In 2024, the Department of Revenue enhanced financial intelligence mechanisms and compliance with global standards to counter illicit…
CBDT Notifies Income Tax Exemption for Central Silk Board, Bengaluru
By: AdminDate: December 25, 2024Category: CBDT Notification | Notification and CircularReading Time: 4 Minutes The Central Board of Direct Taxes (CBDT), through Notification No. 129 dated December 24, 2024, has…
Ministry of Finance Year-Ender 2024: Key CBIC Reforms to Enhance GST Efficiency Published on: December 25, 2024
The Central Board of Indirect Taxes and Customs (CBIC) under the Ministry of Finance marked 2024 with impactful reforms, enhancing the Goods and Services Tax (GST) system in its seventh…
CBIC’s Customs Reforms and Advancements in 2024: Strengthening Transparency, Ease of Doing Business, and Compliance
By: Admin December 25, 2024 Categories: CBIC | Press Release Read Time: 4 Min The Central Board of Indirect Taxes and Customs (CBIC), under the Ministry of Finance, continues to…
CBIC Enables Voluntary Payment Electronically on ICEGATE e-Payment Platform: A Step Towards Digital Customs Processing
The Central Board of Indirect Taxes and Customs (CBIC) issued Circular No. 27/2024-Customs on December 23, 2024, introducing voluntary payment through the ICEGATE e-Payment Platform. This initiative aligns with the…
GST on Rides: Platforms and Unions Push for Review of SaaS Model Levy as CBIC Escalates Issue to GST Council
By: AdminDecember 24, 2024Categories: GST Recent News4 Min Read Ride-hailing platforms and drivers' unions are urging the government to review the GST applied to the Software-as-a-Service (SaaS) model. The Central…
Construction Industry Faces Challenges After GST Council Decision to Overturn SC Ruling in Safari Retreats Case
The construction and real estate sectors are navigating uncertainty after the GST Council's recent decision. The council has retrospectively amended the GST law, restricting Input Tax Credit (ITC) on construction…
Himachal Pradesh Invokes Kyoto Protocol to Demand GST Compensation
Date: December 23, 2024Category: GST Recent NewsRead Time: 4 Minutes The Himachal Pradesh government has urged the Centre to introduce compensation mechanisms for revenue losses caused by GST implementation. It…
55th GST Council Meeting: Key Recommendations
Date: December 21, 2024Category: 55th GST CouncilRead Time: 4 Minutes The 55th GST Council Meeting, chaired by Union Finance Minister Smt. Nirmala Sitharaman, was convened in Jaisalmer, Rajasthan, on December…
Maharashtra SGST Department Arrests Firm Director in ₹30.5 Crore GST Fraud
Date: December 23, 2024Category: GST Recent NewsRead Time: 4 Minutes The Maharashtra State Goods and Services Tax (GST) Department apprehended Sahil Lakhani, director of Palghar-based Shree Sushma Ferrous Alloys Pvt…