The Income Tax Department has recently introduced a new report related to tax payments, which is now accessible in the “Reports” section of the AIS portal. This report is designed to provide a comprehensive summary of taxes paid for a specific Assessment Year (A.Y).
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“Accused Aggarwal demanded Rs 1.50 lakh bribe from Sharma. He agreed to accept Rs 50,000 cash in hand. The complainant was told to deposit Rs 1 lakh in the bank account of the CA. The complainant who did not want to give the money lodged a complaint to the CBI. A trap was laid and Aggarwal was caught red-handed while accepting the bribe near Mohali,” a CBI officer said.
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The buoyancy in the goods and services tax (GST) collections will continue in the remaining part of the year, according to SANJAY KUMAR AGARWAL, chairman of the Central Board of Indirect Taxes and Customs (CBIC). In conversation with Shrimi Choudhary at his office in North Block, he attributes the rise in collections to improved compliance.
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The crackle sold to companies for use as toppings on ice creams may now be subject to a higher goods and services tax (GST) rate of 18 per cent, and not 12 per cent. The Authority for Advance Rulings (AAR) has held that crackle sold to ice cream companies should not be categorised as sugar boiled confectionery but rather as an industrial input.
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Having arrested four persons in January this year in an alleged fake billing case, the Punjab GST Department has now adjudicated 12 firms and imposed a penalty of Rs 50.19 crore against them.
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Pilot projects to test biometric and geotagging authentication during the GST registration process have been delayed due to disagreements over access to the Aadhaar identity database, a senior government official said.
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GST Policy Wing has issued the clarification on the applicability of the e-invoicing to the supplies made to the Government departments or agencies, through Circular No. 198/10/2023-GST dated: July 17, 2023.
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The Goods and Services Tax Network (“GSTN”) has issued Advisory No. 603 dated September 19, 2023 stating that the geocoding functionality for the “Additional Place of Business” address is now active across all States and Union Territories.
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The Centre is planning multi-agency action involving the Enforcement Directorate, Finance Ministry, intelligence agencies and state police forces to investigate a mammoth GST fraud unearthed by the Noida Police, News18 has learnt.
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The government is gearing up to invite bids to operate the goods and services tax tech platform based on a flexible task structure, unlike the present contract with Infosys, which has fixed costs, two senior officials said.
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The Supreme Court bench comprising of Justices Aniruddha Bose and Bela Trivedi today heard the appeal by Tamil Nadu government against the 2021 decision of the Madras High Court striking down the online gaming ban law.
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With a hike in the certain goods carried by road (CGCR) tax and the electricity duty on cement, its price is all set to increase by Rs 5 to 10 per bag in the coming days.
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The CBIC vide Notification No. 46/2023-Central Tax dated September 18, 2023, in accordance with the Central Goods and Services Tax Act, 2017 (“the CGST Act”) and the Integrated Goods and Services Tax Act, 2017 (“the IGST Act”)
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The Authority for Advance Rulings (Tamil Nadu) has held that transport services for students and staff of certain schools will not be subject to GST. Thus, fees collected by the service provider directly from the parents will also not be subject to any GST.
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Based on specific intelligence, officers of the Serious Fraud Investigation Office (SFIO), Ministry of Corporate Affairs, in collaboration with Commissioner of Police, Mumbai, arrested Shri Nalin Prabhat Panchal, a Chartered Accountant by profession on September 13, 2023, for failure to honour the summons issued in connection with the prosecution of Nityank Infrapower & Multiventures Private Limited.
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Officials of the Central Goods and Services Tax (CGST) in Maharashtra’s Palghar have arrested the proprietor of a private company for allegedly availing and passing on fake input tax credit (ITC) to the tune of Rs 18.66 crore, an official said on Sunday.
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Observing that the next 25 years are ‘critical’ for India to achieve developed nation status, Union Minister Nirmala Sitharaman on Saturday appealed to auditors to embrace technology and educate smaller companies to grow.
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Bengaluru-based gaming platform Gameskraft is discontinuing its fantasy offering Gamezy Fantasy — which allowed cricket enthusiasts to pick virtual teams, participate in virtual tournaments and win prizes — from Monday.
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Madhya Pradesh state government is now set to approve the Ordinance for new GST rates on online gaming. The Ordinance will be presented in the cabinet meeting, which is planned for September 16. Notably, the meeting will be chaired by the Chief Minister Shivraj Singh Chouhan.
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In a recent meeting convened by deputy CM Ajit Pawar to discuss additional revenue sources in the wake of the rising fiscal deficit, the Goods and Services Tax (GST) department proposed a hike in the tax on liquor served in restaurants and hotels below the grade of 3 stars. Such places currently pay 5 percent, and the proposal is to up this to 10 to 15 percent, which will help the government increase revenue by Rs 300 to Rs 600 crore annually.
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On Friday, the Supreme Court issued notice on a petition filed by the Madras Tax Bar challenging the constitutional validity of Sections 149 and 150 of the Finance Act, 2023 that seek to substitute Sections 109 and 110 of the Central Goods and Services Tax Act, 2017 (CGST Act). The sections in question relate to appointments and conditions of service of members to the Appellate Tribunal under the CGST Act.
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