Notification No. 50/2024-Customs dated 30.12.2024
Notification No. 50/2024-Customs dated 30.12.2024 Seeking give effect to the fourth tranche of tariff concessions under India-Australia ECTA
Month: January 2025
Circular no. 243/37/2024-GST dated 31.12.2024
CBIC issued Circular no. 243/37/2024-GST dated 31.12.2024 providing Clarification on various issues pertaining to GST treatment of vouchers
Circular no. 242/36/2024-GST dated 31.12.2024
CBIC issued Circular no. 242/36/2024-GST dated 31.12.2024 providing Clarification on place of supply of Online Services supplied by the suppliers of services to unregistered recipients.
Circular no. 241/35/2024-GST dated 31.12.2024
CBIC issued Circular no. 241/35/2024-GST dated 31.12.2024 regarding Clarification on availability of input tax credit as per clause (b) of subsection (2) of section 16 of the CGSTax Act, 2017 in respect of goods which have been delivered by the supplier at his place of business under Ex-Works Contract.
Circular no. 240/34/2024-GST dated 31.12.2024
CBIC issued Circular no. 240/34/2024-GST dated 31.12.2024 providing Clarification in respect of input tax credit availed by electronic commerce operators where services specified under Section 9(5) of Central Goods and Services Tax Act, 2017 are supplied through their platform.
Advisory to Taxpayers on Extension of E-Way Bills Expired on 31st December, 2024
It is hereby informed that the technical challenges encountered in the e-way bill generation process have been resolved, and the portal is now functioning smoothly. In connection with the technical issues faced earlier, the following facilitation measures have been put in place:
Gross and Net GST revenue collections for the month of Dec, 2024
The gross and net GST revenue collections for the month of December, 2024 is published herewith.
Gift vouchers won’t attract GST, clarifies Council
In a significant move during its 55th meeting in Jaisalmer, the GST Council clarified that transactions involving vouchers will be treated as neither a supply of goods nor services and, consequently, will not face taxation under the Goods and Services Tax (GST) framework, sources have told ET Bureau.
ITR Filing Deadline: Income Tax Department extends belated, revised ITR filing deadline to January 15, 2025 for these taxpayers
The Income Tax Department has extended the revised and belated income tax return (ITR) filing deadline to January 15, 2025 for Indian resident individuals. Individuals who have already filed an ITR on or before the deadline, they can file a revised ITR if required. Belated ITR is filed when the individual has not filed any ITR on or before the deadline and wants to file an ITR after the original deadline has passed. The original deadline to file an ITR for individuals was July 31, 2024.
Pre-Budget Memorandum 2025 Direct Taxes an International Taxation
The Institute of Chartered Accountants of India considers it a privilege to submit this Pre-Budget Memorandum – 2025 on Direct Taxes and International Taxation to the Government. The Pre-Budget Memorandum – 2025 contains suggestions for the consideration of the Government while formulating the tax proposals for the year 2025-26.