The Goods and Services Tax Network (GSTN) launched the Invoice Management System (IMS) to simplify invoice reconciliation and improve transparency in Input Tax Credit (ITC) claims. Effective from October 1st,…
🟥 Foreign Income Disclosure Deadline: December 31, 2024
Ravi Agarwal, Chairman of the Central Board of Direct Taxes (CBDT), encourages taxpayers with foreign income or assets to rectify any omissions in their income tax returns before December 31,…
GSTN Issues Steps to Recompute GSTR-2B for October 2024
Date: November 16, 2024Category: GST Law | GST Portal Updates | Important News The Goods and Services Tax Network (GSTN) has issued a notice advising taxpayers to recompute their GSTR-2B…
CBDT Launches Compliance-Cum-Awareness Campaign for AY 2024-25
Date: November 16, 2024Category: Income Tax | Press Release The Central Board of Direct Taxes (CBDT) has initiated a Compliance-Cum-Awareness Campaign for the Assessment Year (AY) 2024-25. This initiative aims…
Karnataka High Court Restrains ICTPI from Offering Tax-Related Courses
Date: November 16, 2024Category: ICAI | News The Karnataka High Court has issued an interim order restraining the Institute of Chartered Tax Practitioners India (ICTPI), a Bengaluru-based organization, from enrolling…
Department Cannot Pass an Order on the Date of Personal Hearing: Madras High Court
Case Overview The Hon’ble Madras High Court ruled in the case of M/s. SS Traders v. Joint Commissioner (ST) (Intelligence) [Writ Petition No. 15363 of 2021, dated August 16, 2024]…
India’s Direct Tax Collections Surge by 21.48% in FY 2024-25
By: Admin | September 18, 2024 | Categories: Tax Policy | 4 Min Read As of September 17, 2024, India’s Direct Tax collections for FY 2024-25 have shown remarkable growth,…
GST Council to Discuss Key Amendment; Retro Tax Relief Likely for Online Gaming Companies
📅 By Admin | September 07, 2024📂 Categories: #GST #RecentNews⏳ 4 Min Read The GST Council will meet on September 9, 2024, to review an amendment to the GST Act…
GSTN Issues Advisory on Reporting Supplies to Unregistered Dealers in GSTR-1 and GSTR-5
By: AdminDate: September 04, 2024Categories: GST Portal Updates | Important NewsRead Time: 4 Min GSTN Advisory on Reporting Supplies to Unregistered Dealers On September 3, 2024, the Goods and Services…
HC Directs Department to Consider Data in GSTR-9 Not Reported in GSTR-1 and GSTR-3B
By: AdminDate: September 03, 2024Categories: Important PronouncementsRead Time: 4 Min Calcutta High Court Directs Consideration of GSTR-9 Data The Hon'ble Calcutta High Court, in the case of Ankit Kumar Aggarwal…