26 May CBDT notified the persons exempted from the provisions related to ‘Angel Tax’
On May 24, 2023, the CBDT issued Notification No. 29/2023, which specifies the specific group or ...
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26 May Important Guidelines and Procedure for Complete Scrutiny of Income Tax Returns during FY 2023-24
The CBDT has released Guidelines under F.No.225/66/2023/ITA-II dated May 24, 2023, outlining the mandatory process...
25 May GST Council is unlikely to take up any rate rationalisation at its upcoming 50th meeting
The Goods and Services Tax (GST) Council is unlikely to take up any rate rationalisation at its upcoming 50th...
25 May DPIIT seeks GST rate reduction for certain segments of leather sector
The Department for Promotion of Industry and Internal Trade (DPIIT) has sent proposals for reducing goods and...
25 May CBIC issued Circular on Amnesty scheme for one time settlement of default in export obligation by Advance and EPCG authorization holders
CBIC has issued Circular No. 11/2023-Customs dated May 17, 2023 pertaining to Advance and Export Promotion...
25 May Key GST GoMs Likely To Be Reshuffled
The Goods and Services Tax Council will have to appoint a new chairperson for the key group of ministers (GoM)...
25 May E-invoice in GST: Know how enterprises with over Rs 5 cr turnover can generate e-invoice in GST
The Central Board of Indirect Taxes and Customs (CBIC) under the finance ministry through a notification last ...
22 May Income Tax Dept. issued update on Aaykar Sampark Kendra
Starting from June 01, 2023, the Income Tax Department has announced that the Aaykar Sampark Kendra...
22 May Windfall tax on crude oil down to nil from Rs 4,100 per tonne
The windfall tax on crude petroleum has been slashed to nil from Rs 4,100 per tonne, as per a notification...
22 May Finance companies ask RBI not to rename penal interest as `charges’ to avoid attracting GST
The Finance Industry Development Council, a representative body of NBFCs in India, has requested the Reserve...