Month: December 2024
Circular No. 20/2024 dated 30.12.2024
CBDT issued Circular No. 20/2024 dated 30.12.2024 regarding Extension of due date for determining amount payable as per column (3) of Table specified in section 90 of Direct Tax Vivad Se Vishwas Scheme, 2024.
DGFT Trade Notice 26/2024-25 dt 30.12.2024
DGFT issued Trade Notice 26/2024-25 dated 30.12.2024 regarding Standard Operating Procedure (SOP) for Export Authorisations for Restricted Seeds and Planting Materials.
DGFT Trade Notice 25/2024-25 dt 30.12.2024
DGFT issued Trade Notice 25/2024-25 dated 30.12.2024 regarding Procedure for filing application for obtaining import Authorisation for import of Low Ash Mettalurgical Coke subject to Country-wise Quantitative Restrictions (QR).
DGFT Notif. 46/2024-25 dt 30.12.2024
DGFT issued Notification No. 46/2024-25 dated 30.12.2024 regarding Imposition of Minimum Import Price (MIP) on import of Soda Ash covered under Chapter 28 of ITC (HS) 2022, Schedule -I (Import Policy).
DGFT Notif. 45/2024-25 dt 30.12.2024
DGFT issued Notification No. 45/2024-25 dated 30.12.2024 regarding imposition of Minimum Export Price (MEP) on Export of Honey.
Simplification to be the focus for taxation in 2025
Simplification of direct and indirect tax policies will be the main focus area for the government in the New Year after beginning the review of the six-decade-old income tax law and rationalisation of the GST rate in 2024. With monthly gross GST Collections establishing at around at Rs. 1.8 lakh crore and gross direct tax collections steadily at 20 per cent rate, the effort to ease compliance burden for individuals as well as corporates will gain traction.
2 arrested for Rs 100 crore GST fraud from Bihar, police probing Pakistan links
Two men have been arrested for allegedly committing a Goods and Services Tax (GST) fraud worth approximately Rs 100 crore by creating a shell company, police said on Saturday.
EEPC India proposes ‘faceless’ GST audit system to boost ease of doing biz
The Engineering Export Promotion Council (EEPC), India on Sunday proposed the introduction of a faceless GST audit system to boost ease of doing business in the country.
Trade and tax bodies push for revised return provisions in Union Budget 2025
Trade and tax professional organisations anticipate a revision of the late free structure and inclusion of provisions for revised returns in the goods and services tax (GST) in the upcoming Union Budget 2024, which will be presented by finance minister Nirmala Sitharaman in Feb.