- 24 Oct 2024 06:24 PM
- New
GST Council Newsletter August 2024
Source: https://taxguru.in/goods-and-service-tax/gst-council-newsletter-august-2024.html
Second National Conference of Enforcement Chiefs of State and Central GST Formations took place on August 20, 2024, in New Delhi, chaired by Revenue Secretary Sanjay Malhotra. This conference followed a special drive aimed at identifying and eliminating fake GST registrations. It included attendance from various enforcement and intelligence authorities such as the CBDT and the Directorate of Enforcement. The Revenue Secretary emphasized the need for a balance between enforcement actions and the ease of doing business, urging the identification of masterminds behind fraudulent activities. Presentations covered technological initiatives to combat GST evasion, along with case studies addressing issues in various sectors. The need for a national register of enforcement actions was highlighted, and participants discussed the importance of engaging with the trade community to foster compliance. The conference served as a platform for sharing experiences and strategies among GST enforcement officials.
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- 23 Oct 2024 06:43 PM
- New
UP police seize 12 kg gold worth ₹9 crore during checking at Yamuna Expressway
Mathura Police seized 12.5 kg of illegal gold worth ₹9.25 crore from a car on Yamuna Expressway, leading to arrests and investigations by GST and IT departments due to lack of official documents.
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- 21 Oct 2024 06:38 PM
- New
Top events on Oct 20: GoM meet on GST rejig, Congress first candidate list for Maha polls, PM in Varanasi, more
Top events on October 20: Key events include PM Modi's visit to Varanasi for inaugurating projects and announcing ₹1,360 crore in initiatives. Additionally, Congress will release its first candidate list for Maharashtra Assembly Elections; read to know more
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- 21 Oct 2024 06:41 PM
GST changes: What is likely to get cheaper? Health insurance, packaged water, shoes on the list
A Group of Ministers (GoM) has recommended reducing GST rates on several essential items like packaged water, bicycles, and exercise notebooks while also providing tax relief to senior citizens on health and term life insurance premiums.
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- 17 Oct 2024 05:48 PM
ED conducts raids in Gujarat in GST fraud case
About 23 premises in cities of Rajkot, Junagadh, Ahmedabad, Bhavnagar and Veraval were being raided by the federal agency after a case was filed under the Prevention of Money Laundering Act (PMLA), a report said.
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- 15 Oct 2024 07:16 PM
A Comprehensive Guide to Calculating and Maximising Input Tax Credit with a GST Calculator
Discover how to calculate and maximise your input tax credit with a GST calculator. Use tools like the Bajaj Finserv GST Calculator to manage taxes.
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- 11 Oct 2024 06:19 PM
Empanelment of CAs/Cost Accountants for Special GST Audit
Source: https://taxguru.in/goods-and-service-tax/empanelment-cas-cost-accountants-special-gst-audit.html
The Office of the Commissioner of CGST and Central Excise (Audit) Thane is inviting online Expressions of Interest (EOIs) for the empanelment of Chartered Accountants and Cost Accountants. This is for conducting special audits of GST-registered persons as mandated under Section 66 of the Central Goods and Services Tax Act, 2017. Interested candidates must submit their EOIs online through the Central Public Procurement Portal, with the submission deadline set for October 27, 2024. Eligible applicants should have at least five years of experience, be registered with the relevant professional institutes, and meet specific compliance criteria. The selection will be based on various parameters, including experience, turnover, and audit assignments completed. The appointed auditors will examine the financial records of GST registered persons to ensure compliance and report findings within a stipulated timeframe. Non-compliance with the eligibility criteria or misconduct may result in cancellation of empanelment. The panel will be valid for two years, with opportunities for new firms to join based on need.
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- 10 Oct 2024 06:05 PM
E-way bills hit yet another record in September, signalling festival season boost
E-way bill generation hit a new record of 109 million in September, marking an 18% year-on-year rise as supply chains ramp up for festival season demand. This surge signals robust economic activity and improved compliance.
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- 09 Oct 2024 06:13 PM
Centre seeks to enable cheaper large TVs in India, incentives for ACs too
New Delhi: Televisions and air conditioners are the next in line in electronics and appliances industries to receive a Centre-backed boost—driven by new incentives, revisions to customs duties and public procurement programmes. The most critical part of the new set of moves involves abolition of basic customs duties on open cells for television panels—which can reduce the overall pricing of large-screen TVs by a significant margin.
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- 09 Oct 2024 06:16 PM
Income tax reform: Go beyond simplifying India’s unwieldy code
The government has initiated action on its budget promise to revamp India’s Income Tax code and invited suggestions from the public on four areas of reform: simplification of language, reducing litigation, easing the compliance burden and getting rid of obsolete provisions.
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