15 May Investments via PLI schemes top priority: FM Nirmala Sitharaman
Finance Minister Nirmala Sitharaman on Thursday underlined the government’s priority to incentivise and facilitate...
Author: editor
15 May What the Govt’s new GST compliance measures and how they impact businesses
In two significant measures to curb tax evasion and increase compliance under the Goods and Services Tax (GST)...
13 May RBI to banks: Treat GST-exempted informal units with Udyam Assist certificate as micro units for priority loans
The Reserve Bank of India (RBI) has informed all financial institutions including banks and NBFCs to treat informal ...
13 May Shell firms under scanner of tax authorities over fake ITC claims
Thousands of entities and their beneficiaries that allegedly created multiple shell firms to represent ...
11 May GST e-invoicing limit reduced to 5 Cr. from the existing limit of 10 Cr. w.e.f. 1st August, 2023
The CBIC released Notification No. 10/2023-Central Tax dated May 10, 2023, to amend Notification No....
11 May Govt. brings directors, nominee shareholders, formation agent of Companies/ LLPs under the purview of the PMLA Act
The Department of Revenue, Ministry of Finance, has released a Notification vide F. No. P-12011/10/2023-ES...
11 May GST: Automated returns scrutiny set to roll out
Businesses will have to more careful while filing returns as the automated scrutiny system for the goods and services tax (GST) is about to use advanced artificial intelligence and data analytics to monitor mismatches....
10 May Finance Ministry Refuses To Act On Insurers Plea In GST Violation Case: Report
Finance Ministry has reportedly refused to act on insurers plea seeking for relief in the penal action the industry is facing penal action for violation from tax authorities for Goods and Services Tax (GST) input tax credit violations, The Economic Times reported an official. The Finance...
10 May Gaming, cement GST clarity likely at Council meeting in June
The much-awaited clarity on online gaming tax rates is expected at the next meeting of the GST Council, which is likely next month. The council is also set to decide on revising the rates for millets and cement at the meeting. A council meeting in June is...
09 May Income tax evasion in India: A Comprehensive Guide to Avoid Penalties
Under the Income Tax Act, penalties are levied for various defaults committed by a taxpayer. Apart from penalty on defaults like not making payment of Self Assessment Tax, default in payment of taxes, default on furnishing return of income and others, Income Tax department also...