-
Audit Plays Catalytic Role in Promoting Efficiency and Effectiveness: CAG
In a recent address at the SRCC Business Conclave, the Comptroller and Auditor General of India, Shri Girish Chandra Murmu, highlighted the pivotal role of audits in driving efficiency and effectivene...
-
Circular No. 5/2024: New Guidelines for Income Tax Appeals & Litigation Reduction
Circular No. 5/2024 issued by the Government of India’s Ministry of Finance provides crucial guidelines under section 268A of the Income-tax Act, 1961. This circular aims to streamline the process of...
-
CBDT Expands Scope of Filing Appeals and SLPs by the Income-tax Department.
CBDT Expands Scope of Filing Appeals and SLPs by the Income-tax Department 1. Introduction: The Central Board of Direct Taxes (CBDT) has recently issued Circular No. 5/2024, dated 15-03-2024, which ex...
-
Revised Applicability of Peer Review Mandate (Phase II & III)
The Institute of Chartered Accountants of India (ICAI) has announced revised criteria for the applicability of the Peer Review Mandate for Practice Units. This decision comes in response to requests f...
-
ICAI to Reschedule May 2024 CA Exams due to Lok Sabha Election
Introduction: The Institute of Chartered Accountants of India (ICAI) plays a pivotal role in shaping the future of accounting professionals. With its commitment to maintaining examination integrity an...
-
CBI Nabs GST, Income Tax Officer and Bank Manager in Bribery cases
Introduction: The Central Bureau of Investigation (CBI) has made significant strides in combating corruption by apprehending several government officials involved in bribery cases. This article delves...
-
Income Tax Act: Press Trust of India Limited Notification (Section 10(22B)
The Ministry of Finance, Department of Revenue, under the Central Board of Direct Taxes, has issued Notification No. 32/2024 dated 15th March 2024, regarding tax exemption under section 10(22B) of the...
-
CBDT approves ‘National Forensic Sciences University, Gandhinagar’ under section 35
Introduction: The Ministry of Finance, through the Department of Revenue and the Central Board of Direct Taxes, issued Notification No. 31/2024 dated 13th March, 2024, pertaining to the Income-tax Act...
-
CBDT approves Sardar Vallabhbhai National Institute of Technology for Scientific Research
Introduction: The Ministry of Finance, through the Central Board of Direct Taxes, has issued Notification No. 30/2024-Income Tax, dated March 13th, 2024. This notification confers approval upon Sardar...
-
CBDT approves IIT, Kharagpur for scientific research under Income-tax Act, 1961
The Ministry of Finance, Department of Revenue, Central Board of Direct Taxes, has issued Notification No. 29/2024 dated 13th March, 2024, pertaining to the Income-tax Act, 1961. This notification gra...
-
Article: Understanding E-Invoicing under GST: Key Rules, Notifications, and Forms.
Understanding E-Invoicing under GST: Key Rules, Notifications, and Forms 1. IntroductionThe introduction of e-invoicing under the Goods and Services Tax (GST) regime has been a significant step toward...
-
SCN Reply: Reply to the notice received for payment of GST on Royalty.
Reply to the notice received for payment of GST on Royalty Date: <DD/MM/YYYY>To, The Proper Officer ______ Division, ______ CommissionerateDear Sir/Madam,Sub: Reply to the notice received for payment...
-
Article: Navigating the Complexities of Casual Taxable Person under GST Regime
Navigating the Complexities of Casual Taxable Person under GST Regime Editorial Note:The Goods and Services Tax (GST) laws in India have introduced the concept of a Casual Taxable Person (CTP) to cate...
-
DGFT Partners with DHL to enable MSMEs to explore international markets
Introduction: The Ministry of Commerce and Industry, Government of India, through the Directorate General of Foreign Trade (DGFT), continues its efforts to enhance India’s presence in the global e-com...
-
Representation to Resolve GST Section 16(4) Issues
Introduction: Mopidevi Venkata Ramana Rao, former Minister of Andhra Pradesh and current Member of Parliament, addresses a crucial issue plaguing businesses across India. In a letter to Hon’ble Financ...
-
CBI Arrests Inspector CGST While Accepting Bribe
Introduction: In recent developments, the Central Bureau of Investigation (CBI) has made a significant arrest involving corruption. An Inspector from the Central Goods and Services Tax (CGST) departme...
-
Ministry of Home Affairs Extends 50% GST Support for Kendriya Police Welfare
Introduction: The Ministry of Home Affairs (MHA) has announced a significant welfare measure aimed at supporting the personnel of Central Armed Police Forces (CAPFs) and their families. Under the lead...
-
Article: Decoding the Concept of Aggregate Turnover under GST Regime.
Decoding the Concept of Aggregate Turnover under GST RegimeThe Goods and Services Tax (GST) has brought about a paradigm shift in the Indian taxation system, with the concept of Aggregate Turnover pla...
-
MCA seeks feedback on Digital Competition Law Report and Draft Bill
MCA invites public comments on Report of Committee on Digital Competition Law and Draft Bill on Digital Competition Law The Ministry of Corporate Affairs (MCA) had constituted Committee on Digital Com...
-
Article: Unveiling the Intricacies of GST Audits: A Comprehensive Guide to Sections 65 and 66
Unveiling the Intricacies of GST Audits: A Comprehensive Guide to Sections 65 and 66In the complex landscape of the Goods and Services Tax (GST) regime, audits play a crucial role in ensuring complian...