Kerala High Court reaffirms the constitutionality of GST Section 16(2)(c) and CGST Rule 36(4) In a recent development, the High Court of Kerala at Ernakulam, in Case No. WA Nos.1853 & 1857/2023, has upheld the constitutional validity of specific provisions …
GSTN Advisory No.621 Dated. 15 January 2024: Introduction of Table 14 & 15 in Form GSTR-1 In a recent development, the Goods and Service Tax Network (GSTN) issued Advisory No. 621 on dated 15 January 2024 pertaining to introduction of …
Effective Rebate under Section 87A of Income-Tax Applicable to New Regime in FY 2023-24 Explore the amendments to Section 87A of the Income-Tax Act, effective from April 1, 2024, providing valuable insights into the rebate available to individual residents in …
Gujarat High court expressed its dissatisfaction with the department’s failure to adhere to the guidelines In a recent development, the Gujarat High Court has summoned three high-ranking officials from the state and central GST departments to address concerns regarding the …
A Highlight of the Performance of DGGI in 2023 According to a Press release by PIB on 11th January 2024, the Directorate General of GST Intelligence (DGGI), the agency has demonstrated exceptional performance in combating GST evasion and ensuring fiscal …
TDS Deduction from Salary: A Guide for Salaried Individuals In the ever-evolving landscape of income tax laws, staying informed is crucial for salaried individuals looking to optimize the TDS deduction from their salary and to save tax. With changes effective …
Interview with Former CBIC Chief Mr. John Joseph on GST for Online Gaming In a recent discussion, John Joseph, former chairman of the Central Board of Indirect Taxes and Customs (CBIC) and current Strategic Adviser with DeepStrat, highlighted key insights …
Six Types of High Value Cash Transactions That May Trigger Towards a I-T Notice on You The Income Tax Act imposes restrictions on cash transactions above specified limits, aiming to combat black money and tax evasion while promoting transparent business …
The Finance Act of 2020, effective from the Assessment Year 2021-22, introduced an amendment in the rule of determining NRI status To ascertain whether an individual qualifies as a Non-Resident Indian (NRI), it is crucial to determine their residential status …
Opting for Composition Levy Scheme of GST under Section 10 and Process of Related Filing Requirements as per Rule 3 Learn about the Composition Levy process under CGST Rule 3, providing crucial information for businesses opting to pay tax under …
Income Tax Scrutiny on NRIs – Focussing on 181 Days Threshold Triggering the Tax Liability In recent developments, the Income Tax Department has intensified its scrutiny of Non-Resident Indians (NRIs), requesting sworn statements to ascertain the exact number of days …
HC concluded that Continuing Criminal Proceedings under Section 174 of IPC would amount to an Abuse of the process of Law Quashing of Criminal Proceedings u/s.174 of IPC by Jharkhand HC: In a recent development, the Jharkhand High Court has …
CBIC Notice Dated 4 January 2024: Calling Feedback/ Suggestion from Stakeholders by 31 january 2024 The Central Board of Indirect Taxes and Customs (CBIC) has recently issued a crucial notice on 4th January 2024, inviting valuable feedback and suggestions from …
Exporters are also awaiting for potential simplifications in the Input Tax Credit (ITC) process in the Budget 2024 Announcement In the upcoming Union Budget for the financial year 2024-25, there are expectations of key adjustments in the Goods and Services …
Key Expectations of Personal Income-Tax Payers from Interim Budget 2024 As we eagerly await the unveiling of the interim budget on February 1, 2024, all eyes are on the potential adjustments to personal income tax, a topic that captures the …
GST Dept informed Supreme Court of its intention to file petition seeking transfer of all related cases from High Courts to Supreme Court The Supreme Court has served notice to the Central Government in response to a plea from online …
29,273 bogus firms have been exposed, allegedly involved in suspected fraud by way of Input Tax Credit (ITC) evasion amounting to Rs. 44,015 crores In a relentless effort to combat fraud in the Goods and Services Tax (GST) and enhance …
E-Way Bill generation Without e-Invoice Details for B2B & B2E Transactions is Restricted from 1st March 2024 – E-Way Bill System Update 5 Jan 2024 Stay informed about the latest changes in the E-Way Bill System. Starting March 1, 2024, …
HSN Code Related Changes Effective from 1 February 2024 Stay informed about the latest changes in the HSN Code requirement. In accordance with notification No. 78/2020 –Central Tax, dated 15th October, 2020, taxpayers are now required to include at least …
CBIC Notification No. 4/2024 Dated 5th January 2024: Special Reporting Procedure Applicable to Manufacturers of Tobacco, Pan Masala etc Notification 4/2024: In a significant move to enhance transparency and compliance in the manufacturing sector under GST, the Central Government, exercising …