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No new anti-profiteering investigations under GST from April 1, 2025From April 1, 2025, new anti-profiteering investigations under GST will cease, allowing businesses to set prices independently. Ongoing cas...
GST bodies get power to waive off certain penaltiesThe government has introduced changes to GST laws, allowing authorities to waive certain interest and penalties on past tax demands. Effect...
GSTN clarifies on validity of notices, orders without digital signature of taxmenThe GST Network clarified that show cause notices and assessment orders issued on the GST portal do not display digital signatures but are ...
Income Tax Department increases thresholds for filing appeals in tax disputesThe Income Tax Department has increased the minimum thresholds for filing appeals in tax disputes. Appeals can now be filed only if the dis...
GSTN to launch invoice management system from Oct 1The GST Network will introduce the Invoice Management System (IMS) from October 1 to help taxpayers match their records with those issued b...
Cos with multi-state presence will have to register as ISD with GST authorities by April 1, 2025By April 1, 2025, companies with multi-state branches must register as Input Service Distributors (ISD) under GST law to distribute input t...
More IT biggies to get tax notices after ₹32,000 cr demand to Infosys, source saysTax Notice: Indian tax authorities may send notices to more IT firms after Infosys received a ₹32,000 crore tax demand for alleged evasion ...
Instant flour mixes for dosa, idli, dhokla cannot be classified as sattu; 18% GST should be levied: GAAARThe company sells flour mixes of gota, khaman, dalwada, dahi-wada, dhokla, idli and dosa in powder form and pleaded that it is akin to Satt...
GSTN rolls out form for tobacco manufacturers to report inputs, outputs to tax authoritiesThe GST Network (GSTN) has introduced a new form, GST SRM-II, for manufacturers of pan masala and tobacco products to report inputs and out...
CBIC issues instructions for initiating early GST recoveryThe CBIC has authorized Principal Commissioners or Commissioners to demand GST dues within three months of a demand order if necessary for ...
GST to be paid by telcos along with instalments towards spectrum chargesThe spectrum will be assigned for 20 years and successful bidders will be allowed to make payments in 20 equal annual instalments in the co...
Income Tax department notifies cost inflation index for current fiscalThe Income Tax Department has notified the Cost Inflation Index (CII) for the fiscal year 2024-25, set at 363, to calculate long-term capit...
GST officers working on registration mechanism for 'shared warehouse' for e-commerce suppliersGST authorities are developing a mechanism to address taxation and registration issues for shared warehouses used by e-commerce companies, ...
GSTN rolls out special procedure for tobacco manufacturers to register machines with tax authoritiesThe GST Network (GSTN) has introduced an online facility for manufacturers of pan masala, gutkha, and similar tobacco products to register ...
Central & state GST officials to conduct joint audits of firmsAs per industry estimates, there are about 11,000 such cases of dual investigation by both the central and state authorities or under litig...
GST Council may soon clarify tax exemption to RERAThe GST Council is expected to clarify that Real Estate Regulatory Authority (RERA) will not be subject to Goods and Services Tax (GST), as...
GSTN to share data with RBI's frictionless credit platformThe Indian government has allowed the GST Network to share data about GST-registered businesses with the Reserve Bank's 'Public Tech Platfo...
GST authorities issue notices over input tax credit discrepanciesGST authorities have issued notices to companies for discrepancies in input tax credit claims, prompting scrutiny of annual returns against...
Former Essar energy internal auditor moves to private practiceKotwal, who started his career with Arthur Anderson, had also set up the internal audit function at Dhabol Power Company apart from spendin...
Audit, advisory firm Singhi & CO joins Moore Stephens NetworkSinghi & Co, a Mumbai based audit and advisory firm has joined accounting and business advisory network of independent firms Moore Stephens.